Word: setbacks
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...Stock Exchange sensed that Wednesday would not be an ordinary day. The Federal Reserve Board's decision to raise the prime rate had already rocked the stock market, triggering a frenzied sell-off that had sent the market plummeting by a startling 26 points on Tuesday-the worst setback it had suffered in nearly six years. Now, at brokers' booths and trading stations, everybody was fretting about what worried investors would do next. "We're going to get sellers," said one broker as he strode onto the floor...
Under mounting pressure from SALT supporters at home and abroad, the U.S. Senate seemed to edge closer to approval of the pact last week despite the setback caused by the uproar over the Soviet combat brigade in Cuba. That issue was somewhat defused when Senate Foreign Relations Committee Chairman Frank Church, who had helped trigger the crisis, introduced a mild resolution that he had worked out in advance with the White House. He proposed that before SALT can be approved, "the President shall affirm that. . . Soviet military forces in Cuba are not engaged in a combat role and will...
Callaghan, 67, took his setback philosophically. "My mind is quiet," he later said privately. He promised his inner circle that he would stay on as leader at least through the 1980 conference in Blackpool...
...prevent such a setback, the President is pouring money, manpower and perks into Florida. Last week, Rosalynn Carter visited the state for the second time in 21 days. Self-contained and smiling, she could barely suppress her irritation when questioned about Kennedy's growing support: "I don't find the growing support. What we do is not predicated at all on what Senator Kennedy does. It doesn't matter what he does." Citing her husband's "solid record" of accomplishment, she noted the nation was not at war, 8 million more Americans were employed and progress...
Talbott wallows in spicy off-the-record quotes. Using the words of one U.S. negotiator, he describes the letdown which followed a setback in the negotiations "as a kind of post-coital depression." While this technique might work in a Time article, it just can't sustain a 270-page book...