Word: aba
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Dates: during 1930-1939
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...home feeling that they had been cheated out of a just revenge for two years of New Deal badgering. Itching to stick out their tongues at Franklin D. Roosevelt, they had been muzzled just at the moment when the President might have noticed them. Instead of offering defiance, the ABA officially proffered peace in a dramatic speech from Jackson Eli Reynolds of Manhattan's First National Bank (TIME, Nov. 5, 1934). As far as rank & file ABA members were concerned, the famed "truce with the White House" was rammed down their gullets...
Last week the nation's bankers met again, this time in New Orleans, home town of retiring ABA President Rudolf S. Hecht. The climate was milder, the bankers bolder, the New Dealers more conciliatory...
President Roosevelt dispatched greetings to the 3,500 ABA delegates through RFChairman Jesse Jones, writing: "I am gratified ... to know that all banks are now in a strong position, and I hope they will take full advantage of the new Banking...
...Commerce, the President warmly welcomed a group of his oldtime bad boys, the bankers. At its annual convention last autumn the American Bankers Association kept its rebellious members under iron control, with the result that an official peace treaty was signed with the President. Last week, although the ABA officials served notice that they intended to fight the Banking Bill, endorsed in his fireside broadcast only last fortnight, President Roosevelt cheerfully told them that his mind was still open...
Nevertheless, the peace treaty had been officially ratified. Rudolf Hecht, ABA President-elect, and three other ABA officials called at the White House. When they departed, Banker Hecht remarked to newshawks: ''We told the President that we were four ball players for the all-American team he proposed. . . . He accepted our proffer...