Word: bankes
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Dates: during 1970-1979
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...upper class sees social pushiness as a trait of the new rich. Quarreling with a salesperson or bank teller is considered gauche?it should be handled discreetly by the husband's secretary. An Internal Revenue Service investigator observes that the new rich are the ones who cheat flagrantly on their income taxes. "The traditionally wealthy," says he, "are accustomed to paying high taxes and know the graceful ways to avoid...
...marry until she was 35, a mother of two, an executive feminist who wears black dresses and pearls, and head of her own Manhattan public relations firm, Letitia Baldrige Enterprises, Inc. At 51 she serves on the board of directors of three companies (the New York Bank for Savings, Dean Witter Reynolds Inc., and Outlet Co. of Providence) and writes a weekly column, "Contemporary Living," which is syndicated in some 40 newspapers by the Los Angeles Times...
...said of the means. Over the years, the thrust has changed for the worse. In the early days, the purpose was to guard against abuse by telling employers what they were forbidden to do. Today business people commonly echo the complaint of Willard Butcher, president of Chase Manhattan Bank: "Washington has begun to dictate not only what we must do but also how we must do it." Alfred Kahn, the former head of the CAB who is now Carter's anti-inflation chief, insists that "the best lesson is to minimize coercion. Regulators should be less precise...
While the Saudis' loyalty to the dollar for the moment is firm, much mystery still surrounds their investment policy. World attention has been caught by the exploits of rich individual Saudis like Ghaith Pharaon, who bought control of the National Bank of Georgia from Bert Lance...
What then do the Saudis buy? They are known to gobble up U.S. Treasury securities, and have bought the bonds of such corporate giants as AT&T, General Motors and U.S. Steel. SAMA also puts deposits into 23 blue-chip American banks and some top foreign banks, though it limits these deposits so that they never exceed the bank's capital (in Citibank's case, the formula works out to about $2.8 billion). Overall, the Saudis told Blumenthal's delegation last year, their investments have an average maturity of only seven years, and bankers figure they...