Word: baumohl
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Dates: during 1990-1999
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...replacement, currently head of Clinton's National Economic Council, spent nearly three decades amassing a fortune at the Wall Street firm Goldman, Sachs & Co., and resigned as chairman to join Clinton in 1992. In Rubin, Wall Street gets an ally in a top post, says TIME business reporter Bernard Baumohl. Rubin will probably be an advocate for smaller government, lower long-term interest rates and smaller budget deficits -- positions that will serve him well in building bridges with the new Republican congressional majorities, Baumohl says. "Rubin has had far fewer dealings with Congress than Bentsen -- so these positions are important...
ASSISTANT EDITORS: Ursula Nadasdy de Gallo, Andrea Dorfman, Brigid O'Hara-Forster, William Tynan, Sidney Urquhart, Jane Van Tassel (Department Heads); Bernard Baumohl, David Bjerklie, Val Castronovo, Georgia Harbison, Ratu Kamlani, Sue Raffety, Susan M. Reed, Elizabeth Rudulph, Susanne Washburn, Linda Young...
...Charles Krauthammer, John Rothchild, Richard Schickel, Walter Shapiro, R.Z. Sheppard, John Skow, Martha Smilgis, Mark Alan Stamaty, Richard Stengel, Andrew Tobias, Claudia Wallis, Michael Walsh, Robert Wright ASSISTANT EDITORS: Ursula Nadasdy de Gallo, Andrea Dorfman, Brigid O'Hara-Forster, William Tynan, Sidney Urquhart, Jane Van Tassel (Department Heads); Bernard Baumohl, David Bjerklie, Val Castronovo, Georgia Harbison, Ratu Kamlani, Sue Raffety, Susan M. Reed, Elizabeth Rudulph, Susanne Washburn, Linda Young...
ASSISTANT EDITORS: Ursula Nadasdy de Gallo, Andrea Dorfman, Brigid O'Hara-Forster, William Tynan, Sidney Urquhart, Jane Van Tassel (Department Heads); Bernard Baumohl, David Bjerklie, Val Castronovo, Georgia Harbison, Ratu Kamlani, Sue Raffety, Susan M. Reed, Elizabeth Rudulph, Susanne Washburn, Linda Young...
...today. American Express Bank International will give up $33 million seized by U.S. Customs agents in 1992 and $7 million made in money-laundering transactions on behalf of a Mexican drug organization. (Two bank officials were convicted on laundering and fraud charges earlier this year.) TIME assistant editor Bernard Baumohl, who covers business, says the troubles are part of a domino effect in law enforcement following the world's largest international banking scandal -- the Bank of Credit and Commerce International (BCCI). "The Justice Department has been aggressively trying to find a weak link in the international money-laundering business...