Word: 80s
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...said. When the caches were gathered up in 1972, he added, 10 were found empty. One of them had contained eight kilos of plastic explosive, leading left-wing politicians to voice suspicion that the plastic had been used for the neofascist terrorism that plagued Italy in the 1970s and '80s...
...late baseball great Jackie Robinson, Freedom was formed with a special mission: to serve the churches, businesses and homeowners in the African-American community who were typically denied credit by mainstream institutions. Freedom helped finance the renovation of the Apollo Theater, for instance. But like many banks in the '80s, Freedom sought to cash in on expanded powers granted under deregulation by moving aggressively into new lending areas, including risky commercial real-estate ventures. Analysts say the bank strayed too far from its home base. As a result, the number of loan defaults at Freedom jumped 20% in the past...
Vietnam and Watergate left us guilt ridden, acting almost as if we deserved punishment, and look what we got: 10 years of inflation and stagflation, three recessions and a stock market lower in 1982 than in 1972. Today we feel guilty about our '80s binge. We've been bad; send us to our room...
...Stanton, the longtime president and "conscience" of CBS, who was crushed when Paley cast him aside rather than accept him as successor. It was a pattern that would be repeated with one heir apparent after another. By the end of his reign, Smith says bluntly, Paley, well into his 80s, "had become an albatross for the network...
BUSINESS: '80s borrowing means '90s burdens...