Word: swap
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Dates: during 1980-1989
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...best mythologizer, telling reporters and acquaintances stories about himself that bent the truth. Blissfully free of self-doubt, he could be a victim of self- delusion. At the National Security Council, he exaggerated his closeness to the President. In running the contra supply network and the arms-for-hostages swap, he seemed to shuttle between fantasy and reality, as he devised the most bizarre schemes to reach his goals. He spoke often of duty and what was right, yet he carelessly used money from the profits of the arms sales to pay food bills and buy snow tires...
...case centers on the activities of Fannie Mae, which buys mortgages from lending institutions and sells them to investors, during the early 1980s. At that time the organization decided to swap large numbers of mortgages whose value had been depressed by high interest rates for similar mortgages held by savings and loan associations. Reason: both parties in the deal incurred losses that they thought could be written off their taxes. But the IRS later ruled that these were paper losses that could not be deducted...
...Economists, where he has served for 14 years. The task of searching for new members of the board, which is carefully chosen to represent diverse economic and political viewpoints, has become something of a regular activity during the past decade. Since the board was founded in 1969 to swap views on economic trends with TIME's editors, four members -- Greenspan, Murray Weidenbaum, Martin Feldstein and Beryl Sprinkel -- have left to serve as chairman of the Council of Economic Advisers. Jokes Alexander: "We're running out of economists to give to our country." Three other board members -- Walter Heller, Arthur Okun...
After once again piously reaffirming America's resolve not to succumb to terrorism by striking deals with hostage-takers, Reagan did just that. In what was sarcastically referred to as "The Swap That Wasn't a Swap," Daniloff was returned to the U.S. and the Soviet spy went home to Moscow--but it wasn't a trade, the President said. The two actions were not related...
...Administration constructed a legal loophole: trading the destroyers for military bases in Newfoundland, Bermuda and the West Indies. While the matter was still being debated, a legal brief supporting the President's position was published in the New York Times. Roosevelt also wrote a personal letter justifying the swap to Senator David Walsh, the leading congressional foe of aid to Britain. In the letter F.D.R. cited a questionable historical analogy of his own: Thomas Jefferson's bold action in negotiating the Louisiana Purchase without consulting Congress...