The Nation: An Ovation For Bert

No hard feelings—at least not in public As Bert Lance strode into the grand ballroom of New York City's Waldorf Astoria Hotel last week, more than 800 young brokers and bankers burst into prolonged applause. The warm welcome by members of the Investment Association of New York meant mainly that Lance still had friends far from his native Georgia. Partly out of respect for his feisty fight against leaving Washington, but more clearly out of appreciation for the conservative economic views that he had voiced as Jimmy Carter's Budget Director, the audience gave Lance three standing ovations and interrupted his...