Word: banker
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Dates: during 1960-1969
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...avert those twin perils, said the globally respected central banker, the U.S. must cut its budget deficit in the fiscal year starting July 1 from a prospective $20 billion to less than $8 billion. Achieving such a reduction would require not only prompt enactment of the Administration-backed 10% income-tax surcharge but budget cuts at least as large as anything Congress has proposed. Moreover, said Martin, he has already told President Johnson that unless the U.S. slashes its balance of payments deficit, that problem will inexorably lead to a world devaluation of currencies. "This would...
...come to Washington to retain the status quo in the mortgage market," said Multimillionaire San Francisco Mortgage Banker Raymond H. Lapin, 49, when he took over the $28,000-a-year presidency of the Federal National Mortgage Association nine months ago. What was needed, he said was nothing less than "changes in structure, policy and objectives" of the nation's largest mortgage facility. Skeptics smiled wisely, knowing that such grand plans are often as not pulverized by the ponderous machinery of Government. Yet last week, when Lapin ordered a radical change in the way FNMA conducts its business, there...
...Volkswagen's massive contribution to the postwar economic recovery that West Germans refer to as the Wirtschaftswunder was almost exclusively the work of Heinz Nordhoff, a courtly engineer whose only passion, he once said, was "to build cars, sell cars and build cars." The son of a Hildesheim banker, Nordhoff served long enough in World War I to be shot in both knees. In 1925, he took an engineering degree from the Polytechnic Academy in Berlin and began his career by designing aircraft engines in Munich. Joining Opel, General Motors' subsidiary, in 1929, Nordhoff worked as a sales...
...members' course,"-6,980 yds. of wide Bermuda-grass fairways and huge, rolling greens, flanked by towering pines and largely free of man-made hazards. "We don't have to spend money building bunkers or maintaining them," explains Clifford Roberts, 74, the austere, bespectacled New York investment banker who, as Jones's deputy, rules both Augusta National and the Masters tournament with an iron hand. "We don't want to look at the ugly things the year round." No tennis courts, no swimming pool, no children's playgrounds adorn the Augusta National-nothing, in short...
...millionaires' conference," as it was called, was almost as evangelical as it was economic. British Banker Sir Siegmund Warburg announced a new holding company that would pump an initial $100 million in capital into Israeli businesses. Sir Isaac Wolfson, head of Britain's Great Universal Stores, personally got fellow delegates to sign individual pledges of $24,000 to set up a company to insure new Israeli enterprises. Retired Republic Corp. Chairman Victor M. Carter pronounced himself "happy and satisfied" with a personal $2 million investment in Israel, then produced plans for $30 million worth of new projects involving...