Word: banker
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Dates: during 1960-1969
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Asked about the present and foreseeable future of the U.S. economy, Chicago Banker Tilford C. Gaines was exultant. "The only words I can use," he said, "are 'excellent,' 'buoyant' and 'ebullient.' " Asked to write a pair of memos to Lyndon Johnson on the state of the economy, Gardner Ackley, chairman of the President's Council of Economic Advisers, had trouble finding any dark spots, replied mostly in superlatives...
...determination to continue to defend the pound, and use every orthodox monetary and fiscal tool to get Britain's creaking economy moving again. Not everyone was convinced that Wilson's new budget (TIME, April 16) can do the job as well as he hopes. One banker reminded the Prime Minister of the fate of King Canute who ordered the tide to recede - and ended up a wetback. Replied Wilson cockily: "I, unlike Canute, have waited until high tide before giving my command...
Rigid Auditing. A longtime Providence banker who was brought into Textron by Founder Royal Little in 1954 as Little's heir apparent, taciturn, trim-waisted Rupe Thompson runs his far-flung company with a staff of only 83 people on one floor of a Providence office building. He allows his divisions to operate almost autonomously, much as at General Motors, a corporation that Thompson has studied minutely and admires mightily. His staff coordinates the company's affairs, channels profits where needed. "I'm all for delegating responsibility," says Thompson, "but I also ask for accountability." That takes...
...most conservative idea for reform is that of Europe's most influential central banker, Bundesbank President Karl Blessing, who is less interested in expanding the supply of reserves than in heading off inflation. He would keep the current monetary system largely intact but limit the amount of dollars and sterling that countries can hold in their reserves. He calls for a ratio of one-third currency, two-thirds gold. Blessing is basically endorsing an idea conceived by Suardus Posthuma, former managing director of The Netherlands' central bank-but Posthuma proposes a 60-40 ratio in favor of gold...
...usually just that: fought and decided on local issues and parochial personalities. But for this year's round of élections municipales, Charles de Gaulle decided to think grand. Ordered onto the hustings were no fewer than 16 of his Cabinet officers, including Premier Georges Pompidou, a onetime banker and literary critic who had never run for anything in his life. Everywhere the invading Gaullist commandos were given lavish support by the regional stations of the government-controlled radio and television...