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Dates: during 1990-1990
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Connecticut Democrat Joseph Lieberman, backed by 19 of his Senate colleagues, urged the President to establish an oil-price task force to monitor the industry. "American consumers are being ripped off on a massive scale," said Lieberman, adding, "The Soviet Union and China have done more to help America in the last five days than our own oil industry." Senate minority leader Robert Dole hinted that Congress might have to rein in prices if the oil industry refused to do so. "Oil companies never learn," he said. "They're just asking for some kind of an excess-profits...

Author: /time Magazine | Title: The Gulf: Barbarians At The Pump | 8/20/1990 | See Source »

...A.B.A. had decided to reconsider after 1,500 of its 360,000 members quit in protest, costing the organization $300,000 in dues. The vote was a victory for pro-life forces, who had waged a $50,000 campaign, with the help of the Roman Catholic Archdiocese of Chicago. U.S. Attorney General Dick Thornburgh also pitched in, warning the group that the A.B.A.'s role as an evaluator of federal judges could be compromised by the pro-choice stance...

Author: /time Magazine | Title: Flip-Flop: The A.B.A. drops pro-choice | 8/20/1990 | See Source »

...growing risk of a downturn increases the pressure on the Federal Reserve to lower interest rates. But Federal Reserve Chairman Alan Greenspan remains wary of inflation, particularly in the face of the latest oil shock. To help persuade Greenspan that it is time to budge, Treasury Secretary Nicholas Brady last week repeated Administration calls for cheaper borrowing costs. "Everybody wants lower interest rates," Brady said. "At this point in time in the U.S., economic growth is very important." Concurs Lyle Gramley, a former Federal Reserve governor who is chief economist for the Mortgage Bankers Association: "To refuse to ease interest...

Author: /time Magazine | Title: The Gulf: Full Tilt into Trouble | 8/20/1990 | See Source »

Martinez will need his war chest to help him overcome an unfavorable performance rating among voters that peaked at 62% in June. Hobbling the Governor are two well-publicized gaffes, a flip-flop on a controversial tax in 1986 and a resounding defeat in the legislature when he tried to push through new restrictions on abortion rights last fall. But Republicans, including George Bush, have stuck by Martinez, largely because Florida is too important to the G.O.P.'s goal of capturing the South to risk abandoning an incumbent Governor. Last year the G.O.P. gained a majority in Florida's congressional...

Author: /time Magazine | Title: Here Comes Talkin' Lawton | 8/20/1990 | See Source »

...belated condemnation of the invasion. But Mubarak, who had just cause for outrage since Saddam had assured him only a week earlier that Iraq had no such intention, did not respond forcefully until after the U.S. pressed Egypt to join a multinational force. "I'm not going to help foreign troops," he declared, "but I will help Arab troops." Even as he called for the emergency Arab summit, however, he authorized U.S. aircraft to fly over Egypt and cleared the way for the U.S.S. Eisenhower to pass through the Suez Canal. If Mubarak was publicly humiliated by his misbegotten assurances...

Author: /time Magazine | Title: The Gulf: Me And My Brother Against My Cousin | 8/20/1990 | See Source »

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