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...because it was during the late 1970s that the bank made most of the $3 billion in reckless loans that led to its near collapse. The agency contends that the directors should have monitored more carefully what was going on at Continental. Ideally, corporate directors are wise and prudent overseers of an institution's full-time staff. But many of the country's 15,000 banks get only minimal supervision from their boards. In a poll released last week by Egon Zehnder International, a consulting firm, 29% of bankers surveyed said their boards of directors fill roles that...

Author: /time Magazine | Title: Rolling Heads | 12/17/1984 | See Source »

...many issues, Weinberger is regarded as the leading hard-liner in the Reagan Administration. He has been skeptical even about pursuing nuclear arms-control negotiations with the Soviets. Yet last week's speech, which he wrote himself and delivered to the National Press Club, was prudent. And the precision of his manifesto was welcome from an Administration that has seemed disconcertingly vague about its foreign policy goals. Weinberger cleared the speech in advance with the White House and got approval from the National Security Council. A few hours before he delivered it, he gave a copy to Secretary...

Author: /time Magazine | Title: The Watchword Is Wariness | 12/10/1984 | See Source »

...particulars. But it was plainly necessary. It constitutes the most important single "foreign policy" action by Reagan so far. Another clear achievement was the missile deployment for NATO, in the teeth of all-out Soviet opposition. Dealings with China, despite decades of a deep Republican commitment to Taiwan, were prudent and professional. The same may be said, at the risk of considerable disagreement, about the Reagan policy toward South Africa. In other instances, policy was muddled through lack of skill and understanding, as in the Middle East...

Author: /time Magazine | Title: Essay: Reagan II: A Foreign Policy Consensus? | 12/10/1984 | See Source »

...Washington, Moscow and European capitals last week, the general reaction was the same, a kind of prudent hopefulness, positive but well short of jubilant. The distance between the U.S. and the Soviet Union had become vast and worrisome. Even an uncertain plan to re-engage is better than hostile solitude. "The main thing is that the talks are taking place," sums up Sir Geoffrey Howe, the British Foreign Secretary. "But don't let's have any terrifically high expectations of sudden change. It's going to be a very long business. It will require...

Author: /time Magazine | Title: Back on Speaking Terms | 12/3/1984 | See Source »

...Some of the authors' imaginings come appealingly to life. The air in the Territories is so clear, for instance, that if someone pulls a radish out of the ground, it can be smelled half a mile away. Clownish, somewhat dim-witted werewolves loyally guard flocks of cow/sheep, but prudent householders stay out of their way when the moon is full...

Author: /time Magazine | Title: Books: Monstrous | 11/5/1984 | See Source »

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