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...Continental's $30 billion in deposits. Last week bank officials appeared to have virtually given up looking for another bank or for some wealthy buyer to infuse new money into the institution. Instead, they were meeting in Washington with is federal regulators to discuss a drastic, last-resort solution in which the Government would assume ownership of Continental. If the deal is concluded, it will be the first nationalization of a major bank in U.S. history...
CONVENTION. Between strategy meetings with Walter Mondale and work sessions with aides who are drafting her acceptance speech, Geraldine Ferraro took time last Saturday afternoon to meet with TIME Correspondent John F. Stacks. Savoring the sun on the deck of a rented Lake Tahoe resort home, Ferraro was relaxed and jocular and occasionally complained about the inevitable "sexist" questions. Her husband John Zaccaro and her daughters Laura and Donna sat near by and sometimes interjected thoughts of their own. Excerpts from the interview...
That was the assessment of TIME's European Board of Economists, which held its twice-yearly meeting last week in the Italian resort town of Cernobbio, outside Milan. Said Hans Mast, a University of Zurich lecturer and Executive Vice President of Credit Suisse: "Europe's substantial pickup seems to believe recent theories about the inevitable stagnation of the old Continent in contrast with the youthful vigor of the U.S. and Japan. We still seem to possess talents for aggressiveness and innovation in world markets...
...leaders visited Mondale in Minnesota and down-played the threat the National Organization of Women had made the weekend before to stage a floor fight for a woman vice-presidential candidate. NOW's president, Judy Goldsmith, stressed that nomination of a woman from the floor would be "a last resort." Mondale soothingly commented: "I understand .. . that's politics...
...circumstances and grave events, organized to defend our brothers." Paul Eidelberg, a professor at Bar-Ilan University outside Tel Aviv, argues that there is a difference between Israeli and Arab terrorism: "Arab violence against Jews is ultimately against the very existence of the Jewish state. In contrast, when Jews resort to violence against Arabs, they are not denying Israel's right to exist as a sovereign state." That sentiment reaches right into the government. Science and Technology Minister Yuval Ne'eman said in May that while he condemned "blind terror," the assaults on the mayors had "positive results" because...