Word: manhattan
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Dates: during 1970-1979
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...market break came on Tuesday. That was when the naition's banks reopened after the Columbus Day holiday, and made their response to the Fed's discount-rate rise. Led by Chase Manhattan, the nation's third largest bank, several institutions immediately raised the prime rate (the interest charged the most credit-worthy corporate customers) from 13.5%, already a record, to a new peak of 14.5%. Since quarter-point raises are the norm, the effect of the full-point boost in the prime was electric. Not only did it push the interest charged to margin investors up close...
Shucking academe for the real thing, Volcker signed on as an economist with the New York branch of the Federal Reserve. After five years, Volcker jumped into private enterprise at the Chase Manhattan Bank. Five more years and he became chief financial analyst at the U.S. Treasury in Washington, D.C., a remarkable achievement...
...invent everything: dynamos, regulators, meters, switches, fuses, fixtures, underground conductors with their necessary connecting boxes, and a host of other detail parts, even down to insulating tape." They did, and on Sept. 4, 1882, Edison gave the order to throw the switch lighting up a small section of downtown Manhattan...
...loneliest boy in North Bergen, NJ. "You remember that kid," he says. "You probably beat him up a few times." He got attention by being funnier than anyone else around, managed to limp through school, then slide unhappily through a semester at New York University in Manhattan. He broke into television at CBS News, and then moved west in 1965. Soon after, he developed the concept for Room 222, which was then produced by Allan Burns. The two formed a team, and in 1970 Grant Tinker, Mary Tyler Moore's husband, asked them to write a show...
...Yale graduate, an aeronautical engineer with the proper degrees from--of all places--the Sorbonne. He unscrupulously altered his give-away Jewish name the same way he adjusted his resume--as it suited his needs. When his creditors threatened to blow his cover, he skipped town, cruising indifferently from Manhattan extravagance--lunching at Club 21 and collecting forged membership cards from places like the New York Racquet Club--to boarding house sleaziness in Atlanta, and at last to a dishonorable end in a San Diego jail. He conned his employers and an endless string of gullible patrons with the same...