No Consensus on Treating Economy Amid Slump
Washington report notes a rapid shift from sluggishness to decline in the US economy with unemployment rising toward 7 percent and forecasts split on a quick upturn. Debates center on whether to pursue stimulus via tax cuts or restraint to curb inflation, while Congress and the Ford administration weigh risks and timing.
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Washington
Ford Administration
New Democratic Congress
Paul McCracken
Council of Economic Advisers
Henry Kaufman
Wall Street
Salomon Brothers
William Simon
Secretary of the Treasury
Alan Greenspan
President’s Council of Economic Advisers
Arthur Okun
Council
Simon
Ford administration moves to raise antitrust penalties nationwide
The Ford administration backs legislation to increase penalties for corporate antitrust violations and to curb corrupt settlements. The plan would raise fines to 1 million for corporations and 500 000 for individuals, and lift prison terms from one to three years, targeting price fixing and other offenses while facing heavy lobbying amid a split Congress. It also seeks disclosure of all contacts between corporate and government officials in antitrust settlements.
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Washington
American Telephone and Telegraph Company
Bell Telephone System
At&t
Telephone
Exxon
Ford Administration
House of Representatives
Senate
House
International Telephone and Telegraph Corporation
Department of Justice
Ford
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Dick Turner
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the Economist of London
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Big Savings
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