Word: aba
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...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...
...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...
...days later a potent delegation of bankers accompanied by Francis M. Law, retiring ABA president, went to the White House to thank the President for his kind words. Banker Law. arriving by taxi, found that he had no money in his pocket. A correspondent of the Wall Street Journal lent him 25? and impishly put an account of the transaction on the Dow-Jones news ticker. Before the delegation was ushered into the Presidential office Mr. Roosevelt had got the news from his ticker. He met Banker Law grinning. The New York Herald Tribune solemnly quoted the President...
Next day a short resolution was steamrollered through the ABA machine, promising cooperation, requesting in very meek terms a balanced budget. But a majority of the delegates were as boisterously antagonistic as ever. They howled applause as Pundit David Lawrence delivered a sizzling attack on the New Deal. In their lobby talk they agreed with the New York Herald Tribune that the President had thoroughly ''buttered'' them...
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...