ECONOMIC CONDITIONS: Peak of recession; Wall Street turnaround begins
REGULATORY CHANGES: FHLBB loweres net worth requirements to 3%, over 20 year period; Garn–St. Germain, deregulating banks, savings & loans
PRESIDENT: Ronald Reagan
SECRETARY OF THE TREASURY: Donald Regan
SECRETARY OF STATE: George P. Shulz
SECRETARY OF DEFENSE: Caspar Weinberger
SUPREME COURT:
CONGRESS: Speaker, Tip O’Neill (D)
FEDERAL RESERVE CHAIRMAN: Paul Volcker
NY FEDERAL RESERVE: Anthony M Solomon, President
HIGHEST PAID CEO: Steven Ross – Warner Communications
$22,554,000
Inflation adjusted: $50,021,000
BUSINESS ROUNDTABLE: Clifton Garvin, CEO & Chairman of Exxon Corp, Chairman; Ruben Mettler, CEO & Chairman of TRW, Chairman
COUNCIL ON FOREIGN RELATIONS: David Rockefeller, Chairman
KEY BANK MERGERS:
KEY NON-BANK MERGERS: US Steel and Marathon Oil; Coca-Cola and Columbia Pictures
CORPORATE GOVERNANCE: