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...latest White House broadsides against the Federal Reserve were set off by the decision of major U.S. banks, led by New York's Chase Manhattan, to raise the prime rate from 12% to 12½%. It was the third increase in the key lending rate in less than two months and pushed the prime to its highest level since October...

Author: /time Magazine | Title: Uproar over Interest Rates | 5/21/1984 | See Source »

...story of Lincoln's presidency is not Age Old but hoary enough to call for some originality in its retelling. Vidal's contribution is to show his hero through the eyes of three associates: Private Secretary John Hay, Treasury Secretary Salmon P. Chase and Secretary of State William H. Seward. The two Cabinet members spend much time squabbling; Hay frequents a Washington brothel. All three observers are, unfortunately, tongue-tied when it comes to reporting on Honest Abe: "As usual, Hay wondered what the President was thinking; as usual, he did not have the slightest clue. ... How, Seward...

Author: /time Magazine | Title: Books: Gone with the Winds of War | 5/21/1984 | See Source »

...along the coastal road. They crossed Christian Phalange and Lebanese Army checkpoints without incident, then suddenly spotted a Syrian checkpoint straight ahead. Realizing that they had strayed into hostile territory, they turned the car around and tried to flee. Syrian soldiers opened fire on the retreating auto and gave chase. By the time a special commando team from Israel had been sent to the scene in an effort to rescue its stranded countrymen, the three officials had been captured. They were flown to Damascus, where the Syrian government announced that they would be held as prisoners...

Author: /time Magazine | Title: Lebanon: No Picnic All Around | 5/14/1984 | See Source »

...because moderns have little interest in either. When it comes to things they are interested in-doctors, lawyers, Presidents-they have replaced skull-bashing and suffocation with more subtle ordeals. Aspiring doctors must first survive the pressure cooker of a sleepless year of internship, aspiring lawyers the cutthroat paper chase of first-year law school. And those who aspire to the most exalted title of all, President, are required to traverse a campaign trail of Homeric peril. Its length is ludicrous: three years for any serious candidate; its requirements absurd: giving up privacy, often family and almost always...

Author: /time Magazine | Title: Essay: The Appeal of Ordeal | 5/14/1984 | See Source »

...Anatole Hotel in Dallas. Jackson aides rounded up two church buses to get the tour under way-90 minutes late. But one bus broke down and limped onto a goat farm near the town of Grand Prairie; reporters and camera crews had to hire a fleet of taxis to chase after the candidate. All of which seemed apt for a major campaign that has generated more excitement with less money and organization than any other in memory. In a self-satisfied moment, Jackson put it this way: "If Hart or Mondale had my budget, they could not compete...

Author: /time Magazine | Title: Campaigning in Free Verse | 5/7/1984 | See Source »

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