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At Bretton Woods, in New Hampshire’s White Mountains, the soon-to-be-victorious Allies met in July 1944 to devise a new financial architecture for the post-war world. In this new order, trade would be progressively liberalized, but restrictions on capital movements would remain in place. Exchange rates would be fixed, as under the gold standard, bu
... See moreNiall Ferguson • The Ascent of Money: A Financial History of the World: 10th Anniversary Edition
During the court fight over the contested election, Rauh recalls, “Corcoran called to get me on the defense team and said, ‘This wonderful congressman …’ In [Abe] Fortas’ office these people were talking about what a great man we were defending. I just sort of automatically assumed it.… But it soon became clear that Johnson was not the shining knig
... See moreRobert A. Caro • Master of the Senate: The Years of Lyndon Johnson III
Of all Truman’s other proposals—on desegregation of public facilities, on the FEPC, on the poll tax—not one got through the Senate in 1946, 1947, or 1948. With Russell basing his arguments on constitutional grounds (“We are not defending the poll tax as such. We are defending the rights of the States to govern their own elections and to keep Federa
... See moreRobert A. Caro • Master of the Senate: The Years of Lyndon Johnson III
Operation MONGOOSE. Right after the Bay of Pigs invasion attempt failed, Kennedy launched a major terrorist operation against Cuba [beginning November 30, 1961]. It was huge—I think it had a $50 million-a-year budget (that’s known);
Peter Mitchell • Understanding Power: The Indispensible Chomsky
was after President Kennedy’s funeral that Congress passed legislation to provide full Secret Service protection to former presidents.
Jean Edward Smith • Eisenhower in War and Peace
King despaired. After nearly three years, his relationship with President Kennedy had run out of room. Although the movement needed federal intervention more than ever, realism told King he could not pressure President Kennedy an inch further. Brooding, he took the young Justice Department lawyer Thelton Henderson privately aside. “I’m concerned ab
... See moreTaylor Branch • Pillar of Fire: America in the King Years 1963-65
Surely Woodrow Wilson does not need their flattering omissions, after all. His progressive legislative accomplishments in just his first two years, including tariff reform, an income tax, the Federal Reserve Act, and the Workingmen’s Compensation Act, are almost unparalleled. Wilson’s speeches on behalf of self-determination stirred the world, even
... See moreJames W. Loewen • Lies My Teacher Told Me: Everything Your American History Textbook Got Wrong
his feisty