Word: bankes
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Dates: during 1970-1979
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...apparently united the Christian Democrats and the remnants of the Popular Unity Party to draw up concrete plans for a transitional government in Chile. Moffitt claims the Christian Democrats trusted Letelier because he was a graduate of the military academy in Chile, a lawyer at the Inter-American Development Bank, and "he was never identified with the far left of the Socialist Party...
...military junta led by General Augusto Pinochet overthrew the democratically-elected government of President Salvador Allende." One of the purposes of the report is to air "the conflicts between the officially stated human rights policy of the U.S. government and the behavior of private U.S.-based corporations and banks." Moffitt and Isabel Letelier assert that without private bank assistance Pinochet could never have turned down a 1977 U.S. government offer of $27.5 million in economic assistance, a loan with attached human rights concessions. In 1976, the U.S. Congress, over the opposition of former President Gerald R. Ford, voted to stop...
Moffitt explains that if Pinochet had to answer to President Carter, he would not have outlawed the PDC in March of 1977. Instead, the report states, the same month the party was outlawed, U.S. banks loaned him $51 million. In January, 1978, Pinochet exiled 12 Christian Democrats for participating in illegal political activities and the same month, the report indicates, "the bank consortium headed by Wells Fargo lent the government $125 million and Exxon purchased approximately $100 million worth of shares of the La Disputada (copper) mines...
Neva Magketla '78, an SASC member, said yesterday, "Radcliffe should immediately divest itself ot its holdings in all banks that have made loans to the South African government, like First National Bank of Boston and the Bank of America...
According to the June 1977 treasurer's report, Radcliffe owns $480,000 of stock in the Bank of America and about 140,000 of stocks and bonds in First National Bank of Boston, as well as holdings in other South African-related banks...