. . . or click on the link here for Audio Player – ABC World News This Week – ending January 6, 1991 – Gordon Skene Sound Collection.
This week in 1991 saw an inching towards all-out confrontation between the U.S. and its allies and Iraq over the occupation of Kuwait.
Months of saber rattling, posturing, negotiations, appeals, threats and troop buildups were coming to a head. Last minute negotiations between Iraqi officials and the Bush White House were having little, if any effect on what was rapidly becoming a foregone conclusion. Shooting was going to be involved; it was a matter of sooner rather than later, but how soon?
Meanwhile, the rest of the world spun away, this week of January 6th in 1991.
The 102nd Congress was gathered on Capitol Hill for swearing in and getting back to work. As many remarked, it was Politics as usual. Slapping backs and “come, let us reason together” didn’t go past the first few hours before wrangling and politicking gave way to accusations and heated arguments.
News this week from El Salvador was disturbing, with word of an execution style slaying of three U.S. Servicemen whose helicopter was downed. Denials were quickly offered, but many felt it was the work of Salvadoran rebels. The incident was viewed as an excuse for the U.S. to send another $40 million in military aid to the Salvadoran government.
Looming on the horizon was news of potential Banking problems, with word from the Governor of Rhode Island that The Heritage Loan and Investment Company had collapsed and that it’s President was charged with embezzling millions and who managed to disappear two months earlier. The problem was with the Private Insurance Group, which in order to cover losses, found themselves unable to cover its remaining institutions and the $1.7 Billion on deposit. The result was roughly half of Rhode Island‘s banks and financial institutions were forced to shut down, leaving depositors with no way to retrieve their money. The governor of Rhode Island pledged to cover most of the deposits, even if it meant the State Treasury had to put up the cash.
And that’s just a little of what went on this week – the one ending on January 6th in 1991, as presented by ABC Radio’s World News This Week.
