Word: bejski
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...Bejski commission concluded that the banks' practice of trading in their own shares amounted to illegal manipulation. Its report criticized Mandelbaum and other government officials for failing to take any action to prevent the banks from bringing on the stock crash...
...commission led by Moshe Bejski, a Justice of Israel's Supreme Court, last week censured 16 people who were top banking and government finance officials at the time of the country's infamous 1983 bank-stock crash. Most of them had left their jobs after the debacle. Now the Bejski panel has recommended that six senior banking officials be fired if they refuse to resign. The six are the heads of five major private banks and Moshe Mandelbaum, governor of the government-run Bank of Israel, which is the country's counterpart to the U.S. Federal Reserve. The commission urged...
...Bejski's 560-page report called for sweeping reforms in the Israeli banking system. The commission suggested that banks be prohibited from managing mutual-stock funds and acting as investment advisers and brokers. In addition, said the report, the Bank of Israel should tighten its regulation of private banks by appointing some of their directors as well as their auditors...
Though Israeli newspapers reacted to the report with headlines like EARTHQUAKE IN BANKING, there were no runs on banks or other financial disruptions. Since many Israelis blamed top bank officials for the 1983 crisis, the implementation of Bejski's harsh recommendations would probably increase public confidence in the financial system...
Long accounts of Jewish suffering and degradation at Nazi hands were beginning to get on Israeli nerves. Tel Aviv Magistrate Moshe Bejski was recounting how 15,000 inmates of Plaszow camp had been herded together to watch hangings in 1943. Snapped Prosecuting Attorney Gideon Hausner: "Fifteen thousand people were standing there and only a few hundred guards were facing you-why didn't you revolt and charge and attack these guards?" Staggered by the question, Bejski asked permission to sit, blurted: "After 18 years I cannot describe the feeling of fear . . . there was belief the war would...
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