Considering the tribulations of Cambridge life, a good mugging might even be refreshing.

In any case we shouldn't be surprised that brigandage is on the rise, when we consider that exactly 1/7 of the Gorkom (or Politburo, or Central Committee-City Council seems such an inaccurate description of a body that systematically appropriates privately owned housing stock); that 1/7 which actually constitutes far more that 1/7 of the seniority, mass and volume o the Council, is none other than William Walsh.

Walsh is accused of attempting to defraud a bank to fund a condominium development deal. But the alleged misdeeds had none of the elegance and cleverness of Tamany Hall or the Chicago Machine; alas, even subterfuge is in Cambridge, well second rate.

Walsh was reportedly out to bilk a savings bank for many years ran a television commercial featuring animated characters from the Wizard of Oz as spokespersons.

Evidently, the prodigious wits at "The Dime," were too clever for Walsh.

If he is found guilty, We have an appropriate punishment for him: a semester of Visiting Professor of business Administration Marc J. Epstein's ethics course at the Business School, where undoubtedly he'll learn the first rule of "Business Ethics"-that is, don't get caught.

NEW SPEAK

"I don't know what's to be embarrassed about. Lots of people contribute to the party."

Democratic National Committee spokesperson Catherine Moore, upon learning that Aldrich Hazen Ames, the C.I.A. operative accused of being a top level spy for Russia, contributed a total of $5,000 to the Democratic party in 1990 and 1991.