Word: banker
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...million budget gap. Washington has limited home rule, with congressional oversight, because it is a district and not part of any state; a federal takeover has been floated because of the fiscal mess. The local news, meanwhile, is having a global impact: Masahiri Ymaguchi, a top Tokyo banker, told the Associated Press that the dollar fell against the Japanese yen today because of Washington's problems. TIME Washington correspondent Ann Blackman reports that Congress will probably set up an independent financial review board to oversee city spending. She says Barry planted the seeds for the crisis years ago by building...
...frequently turned to their in-house banks for loans. According to government and congressional investigators, hundreds of other loans went to relatives and friends of bank managers and directors, as well as to real-estate operators who had the appropriate political connections. Laissez-faire took on new meaning as bankers used their institutions as personal cajas chicas, or petty-cash drawers. One oft-cited example of banker extravagance: only weeks before its collapse, Banco Latino chartered an Air France Concorde supersonic jetliner to speed friends of the bank to a party celebrating the opening of a Paris branch. The estimated...
While the bankers played, government oversight was, to put it mildly, minimal. Wearing his central-banker hat, Tinoco ensured that new regulations governing the industry did not take effect and that oversight remained inadequate. According to later investigations, regulatory officials were paid to look the other way or lacked the authority or manpower to intervene...
...conservatism was William F. Buckley Jr. in the early '60s. His cutting wit had the patina of moral certitude, in a fight his liberal opponents were often too genteel to win. Buckley's heirs (William Safire, Buchanan, P.J. O'Rourke) helped lift from Republicans the stigma of the pruney banker. On the radio side, conservative talk also had '50s and '60s pioneers: cantankerous Joe Pine and Bob Grant. Grant and Limbaugh, who have broadcast back to back on New York City's WABC since 1988, have set the limits -- one growly, the other comic-pompous -- for Right Radio...
Nominee Paul M. Weissman '52, managing director emeritus of Bear Stearns & Co., is an investment banker with an MBA degree from the Wharton School of Business at the University of Pennsylvania...