Word: bankes
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...Sunday, Aug. 28, three of the Ribicoff committee's staff men flew to Atlanta. They had been dispatched to interview former Lance associates and examine bank records, since the committee in the past had been embarrassed by its lack of independent knowledge. Only a month earlier the committee had given Lance what one member termed "our Good Housekeeping Seal of Approval." The investigators found what they considered evidence of potentially criminal behavior by Lance as a banker. By midweek they notified Ribicoff and Percy...
...report, Heimann found that on numerous occasions Lance may have used an airplane owned by the National Bank of Georgia for both personal and political purposes from 1975 to 1977. The comptroller considered this matter serious enough to refer to the Justice Department for possible prosecution. Political use of the plane could be viewed as a corporate campaign donation and thus a violation of federal election laws. Personal use of the plane, if written off as a business expense and deducted from income taxes, could be a tax crime...
Heimann had also found a new, clear-cut instance of Lance's highly dubious practice of drawing large personal loans from banks with which his own bank had established correspondent relationships. The comptroller's report showed that Lance and his wife LaBelle got nearly 20 loans totaling close to $4 million from Georgia's Fulton National Bank between 1963 and 1975?much of the time when Lance headed the Calhoun First National Bank. In numerous documents related to these loans, the Fulton bank noted that "satisfactory balances are maintained by Calhoun National Bank," implying a direct connection between the loans...
...There is some evidence," Heimann's report concluded, "tending to support the view that, but for the correspondent accounts, the loans would not have been made." Heimann noted, however, that such a quid pro quo is not of itself illegal. It must also be shown that the Fulton bank received benefits from Calhoun's interest-free deposit. In this case, Heimann found that Fulton's services to Lance's bank actually cost more than the revenues from the Calhoun money...
...each year, the Edward S. Mason Program in Economic Development brings 20 to 25 public officials from foreign countries--ranging from Brunei to Swaziland--to Harvard, where they complete studies for a master's degree. Many of these representatives of the Third World elites--a potpourri of cabinet ministers, bank directors and corporate managers--enroll in undergraduate economics and government courses...