Word: westerners
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Dates: during 1980-1989
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...first because it is accompanied this time by a serious Soviet attempt at internal reform. Detente II has yielded an arms reduction agreement (the INF treaty) of marginal strategic importance but of such profound psychological impact that the peace movement, which only five years ago threatened to overthrow Western nuclear policy, has been eclipsed...
...Western alliance is stronger than ever. Europe is embarked on full economic integration. NATO, whose imminent demise is annually declared by critics, has shown remarkable cohesiveness, withstanding with nary a blink the planned removal of an American air wing from Spain and its relocation to Italy...
...pull to isolationism is likely to be challenged not by realism but by two other energetic foreign policy models, both more attuned to the moralism that characterizes America's approach to the world. One is an internationalism of the kind envisioned briefly in the mid-1940s by the Western founders of the U.N. but made impossible by the cold war. In the absence of intractable ideological conflict between the U.S. and the Soviets, internationalism would no longer be a hopelessly utopian idea. (In fact, even during the cold war, when the U.S. and the Soviet Union found a temporary convergence...
Nobody likes to pay for other people's mistakes -- least of all the bankers at Great Western Financial of Beverly Hills. So the California giant, the third largest savings and loan association in the U.S., with assets of $31 billion, was indignant in 1987, when the fees it pays the Federal Savings and Loan Insurance Corporation for insurance coverage on deposits went up by 150%, to $43 million a year. Healthy S and Ls like Great Western were being forced to subsidize the cash-starved agency's efforts to rescue scores of poorly managed, insolvent institutions...
Last week Great Western announced that it would try to escape the FSLIC burden by applying for coverage from the Federal Deposit Insurance Corporation, which protects commercial banks. Since banking problems have not become as severe as the S and L crisis, the FDIC has not raised its premiums as much as the FSLIC and would charge the California institution only $17 million. Congress passed a law in 1987 prohibiting most federally insured S and Ls from abandoning the FSLIC, but Great Western's executives plan to circumvent the ban by merging with a Washington State savings bank that...