Koreans vote in first direct presidential election in 16 years
South Koreans vote as tensions rise over potential fraud and disruption as polls open at 7 am. Officials report heavy turnout and warn of possible protests if the ruling party wins. Kim Dae jung and Kim Young sam press for fair counting while Roh Tae woo pledges honesty.
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Reagan signs five year extension of independent counsel law
President Reagan signed a five year extension of the independent counsel law despite doubts about constitutionality. The law continues court appointed probes into alleged wrongdoing by senior government officials and had been threatened with a veto.
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Bill
Washington
Reagan
Independent Counsel Law
U.S. trade deficit hits a record in third quarter
The Commerce Department reports a record 43.4 billion current account deficit for July to September. Investment earnings turn negative for the first time since 1958, with foreigners owning more U.S. assets than Americans hold abroad. Analysts see total net debt near 400 billion by year end.
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Commerce Department
Japan
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Democrats cheer Kennedy as court nomination advances
Senate leaders Byrd and Biden voiced support for Supreme Court nominee Anthony Kennedy after seven hours of testimony. Byrd expected Kennedy to don the robes, while Biden said he found him honorable and open minded amid questions on equality and civil rights.
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Robert Byrd
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Reagan
Robert Bork
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