Word: slowed
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Dates: during 1970-1979
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...bubble. Fifty years ago, a buyer had to put down only 10% of his own money to get a stock; he could use credit for the rest. Today, under a Federal Reserve rule, customers have to put up at least 50% of their own funds. The Fed can also slow bank credit to stop speculation from feeding a boom, a step it took last week. In addition, there was no watchdog Securities and Exchange Commission in 1929 (it was set up in 1934). Today the SEC closely polices financial markets to stop inside dealing and fraudulent company reports, which were...
...personal life as well as his public decisions, Volcker is a slow man with a buck. Instead of flying a regularly scheduled airline and getting a first-class seat so he can stretch his long legs, Volcker doggedly queues up to ride the cramped shuttle flight between Washington and New York, where his wife, who suffers from arthritis, still lives. A month ago, when the dollar was under attack, Volcker found himself marooned for six hours at New York's La Guardia Airport waiting for a place on the shuttle. Says one aide with a grin: "Perhaps...
DAVID GROVE: "I applaud," says Grove, a private consultant and senior economic adviser to Marine Midland Bank. "A slow and gradual approach to curbing inflation would not be very effective. I prefer a quick and dirty approach, and the Fed's actions are very much along that line. They will give the domestic public and foreigners the sense that we really are going to come to grips with inflation." Grove concedes that a dramatic and determined" credit squeeze would depress business activity and push up the unemployment rate. He also thinks the stock market had good reason to flop...
...treaty is rejected, Administration spokesmen declared, Western Europe might face the breakdown of NATO and eventual "Finlandization," as its members seek private accommodations with the Soviet Union. Warned Delaware Democrat Joe Biden, a leading pro-SALT Senator: "Our NATO allies have had their confidence shaken by our slow response to the energy crisis, by the decline of the dollar, and by what they perceive as American foreign policy setbacks. For the U.S. to repudiate SALT would send through Europe the most profound and far-reaching doubts about the U.S. as leader of the Western alliance...
...experience, I'm not saying that outside pressures and coercion are not factors or catalysts for change. Obviously at least to some extent, they are and in some cases they may be the only catalysts. In my experience, without a shadow of a doubt, those outside pressures tend to slow up the change process considerably. That is one of the most difficult and tragic things I've experienced as a minister in this country. Take sport for instance. I still think that if there had been better understanding in the outside world the process of change in sports would have...