70 Year Magazine Archive

Letter from Washington

by Cato

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There was more art than chance at Ronald Reagan’s press conference on the stock market. The artistry was shown early by a network TV camera, positioned across the hallway from the Blue Room to catch the President walking in a vigorous take-charge stride to the East Room and the waiting vulturous White House press pool. The camera showed the extent to which the White House sought to please the press. The networks had never before been allowed that camera position, which in directors’ jargon provides “continuity.”

Why did Reagan go to such elaborate lengths? Because he knew that this was the performance of a lifetime. Every statement, gesture, and expression would be under a tight media lens. Was Reagan panicked by Wall Street’s meltdown? Did he understand the gravity of it? Would he show leadership?

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