Word: weres
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Dates: during 1980-1989
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-- Interest rates were rising then, while they are stable or falling now.
Many investors, especially short-term speculators, were badly shaken. The biggest losers were Wall Street arbitragers, who make money by buying the stock of takeover targets and selling it at a higher price when the deals go through. The high anxiety about the junk-bond market sent the stocks of...
Darman's observation -- oddly reminiscent of Jimmy Carter's much maligned 1979 "malaise" speech on the nation's shrinking horizons -- was acute. But even as he was speaking, Darman and others in Government were obscuring the size of the federal deficit through slick bookkeeping and legislative tricks and promising bold...
Such hypocrisy is becoming more and more common in the Administration and Congress as the contradictions, limitations, frustrations and injustices they have created become increasingly apparent. Three key indicators of the degree to which Government has lost its bearings were evident last week:
The catastrophic-health-care program, which lobbying groups for the elderly hailed at its passage, imposed an annual surtax of up to $800 on well-heeled Medicare beneficiaries, who balked at having to pay for benefits that were often duplicated by their private insurance. Last summer they began an intense...