Books: Phase II Fallout

THE NIXON RECESSION CAPER by RALPH MALONEY 192 pages. Norton. $5.95.

The proceedings open with a suitably clever premise—grade-A Alec Guinness, actually. Four respectable citizens, pillars of a Fairfield County country club, have lost their upper-tax-bracket jobs during the present little economic adjustment. They make up the champagne casualties — the affluent walking wounded. Sandy Campbell is an ex-vice president of a mutual fund, shot down with the market. Jack Carmody is an ex-ad-agency ace, gone up in smoke with his TV cigarette accounts. Sam Deitsch is a dress manufacturer who laid it on...

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