Bad Option

Reed will go in April

Only a year ago, the Washington gossip was that Thomas Reed, the Special Assistant to the President, would go on to bigger things. A former Secretary of the Air Force under Presidents Ford and Carter, a longtime associate of President Reagan's and a consultant to the National Security Council staff, Reed was thought to have had a good shot at a number of high-level openings down the road. No longer. Reed's troubles go back to 1981, when he made an investment of $3,000 in call options on shares of stock in the Amax mining company. When...

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