Word: bankes
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Dates: during 1970-1979
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...lovely wife" in the best political tradition. He can't help being baby-faced and short. Nor is he responsible for the school board president's mooning from a car on the highway. Likewise, the mayor had no way of knowing that the day he made a symbolic bank withdrawal that his disturbed brother would rob another bank. But the most important spectacle for which Kucinich has been unfairly blamed is the financial collapse of the city of Cleveland...
When the city needed to refinance $15 million in debt last December he offered the leading bank, Cleveland Trust, full collateral in the form of income taxes and city property, and a private investor agreed to underwrite the city's debt. The bank turned down these offers. Kucinich charges that at a private meeting he likens to a "street mugging," the chairman of Cleveland Trust made extension of credit conditional on the sale of the city-owned electric company to its private competitor. According to the mayor, the proposed sale called for the private company to pay the city about...
...INTERESTS in Muny Light are clear; the next question is why Cleveland Trust backs them. Cleveland Trust controls 2.2 per cent of outstanding CEI common shares, registers CEI stocks, lends it large sums of money, manages a $70 million CEI pension fund and four bank accounts, and even has an interest in the utility's building. Cleveland Trust directors serve on CEI's 11-member board...
Harvard holds approximately $25 million in certificates of deposit from Chemical Bank, Citibank, First National Bank of Dallas, and Continental Illinois and roughly $200,000 worth of equity shares in Republic of Texas, Siguler said...
Harvard holds certificates in Continental despite its unrestrictive policy because the bank is not currently lending to the South African government, Siguler said. "Once we find that it is making loans, we'll let the investment mature or immediately sell it," he said...