Word: bankes
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Dates: during 1970-1979
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...least three people turned down the top Fed job: David Rockefeller of the Chase Manhattan Bank, A.W. Clausen of Bank of America and Robert Roosa of Brown Brothers Harriman & Co. investment bankers. The final choice came down to Volcker and Bruce MacLaury, president of Brookings. When Carter phoned Volcker last Tuesday, the banker's main concern was to make sure that he and the President agreed on the independent role of the Federal Reserve. "I am satisfied on the basis of my conversations with the President that he has a good understanding of the problems," Volcker said later...
...which calls their kinds of talents and energies automatically into the public sector. They have available chairs of classics at Brown University and directorships at Gulf Oil, what have you." A Southern Governor agrees: "It was probably much easier for David Rockefeller to be chairman of the Chase Manhattan Bank, a powerful position in which he exercised leadership and control, than to weather the strains of public office, as did his brother Nelson...
DAVID ROCKEFELLER, chairman of the Chase Manhattan Bank: John McCloy [lawyer and banker] and Henry Kissinger for their leadership in world affairs; Andrew Wyeth for his leadership in bringing the arts to a wider public; Rockefeller University President and Nobel Winner Joshua Lederberg for his leadership in the scientific community; General Electric's Reginald Jones for his business leadership; and Patrick Haggerty [general director of Texas Instruments] for his business leadership and his role in helping maintain America's technological leadership...
Included in the 18 who lost subsequent bids for election was Dick Clark, the highly respected liberal Senator from Iowa who fell victim to a right-wing, right-to-life attack. Bill Baxley, crusading attorney general of Alabama, lost a race for Governor; Luther Hodges, successful bank chairman, lost a Senate primary in North Carolina to a man who outspent him 20 to 1; Yvonne Brathwaite Burke, California Congresswoman, lost a race for state attorney general; Andrew Pickens Miller, Virginia's attorney general, lost a race for Senator. Vermont Governor Thomas Salmon, who ably fought the land developers...
...executive of American Motors. Economics Professor Marina Whitman will start next month as chief economist and vice president at General Motors. The biggest losers among the businessmen were Arthur Taylor, eased out of the presidency of CBS, and Richard Kattel, the boy wonder of Atlanta's go-go banking days, who resigned his chairmanship of Citizens and Southern National Bank. The Comptroller of the Currency had classified $11 million of the bank's loans as questionable...