Word: brainard
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Dates: during 1980-1989
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...industrial strength and ability to compete? Just how much overseas investment is good for the country, and how much of America should foreigners be allowed to buy? What other kinds of control might follow? What will happen if nothing is done to stem the buying tide? Warns Lawrence Brainard, chief international economist for Manhattan's Bankers Trust: "By the end of this century, the U.S. may have the most modern manufacturing sector in the world, but it won't own it." Says Democratic Representative John Bryant of Texas: "America has been selling off its family jewels...
...meaning that the bank's new aims will appear to eat up more resources more quickly. A much bigger worry, however, is that the institution will fail to come up with enough funds to encourage the kind of policy changes needed for long-term Third World growth. Warns Lawrence Brainard, a senior vice president of Manhattan's Bankers Trust: "Barber Conable will not be able to pull a rabbit out of the hat to solve the debt crisis...
...outline of the White House position drew cautious praise last week from U.S. bankers, who have $230 billion at risk in Latin America alone. Said Lawrence Brainard, senior vice president of Manhattan's Bankers Trust: "What we expect from Baker is a totally new approach. The U.S. must assume leadership to avoid being overtaken by the crisis." Added Princeton University Economist Peter Kenen: "Baker has learned very quickly what the international realities are. He is going about this in a sensible way." Even so, some bankers feared that the debtors might be allowed too much freedom, which could encourage them...
Some bankers were initially hesitant. Lawrence Brainard, a former vice president of Chase Manhattan, remembers the day that the bank first faced the issue: "In early 1974 I joined a small group of senior bankers discussing a request by Denmark for a balance of payments credit. The key question in the meeting was whether private commercial banks had any business making unsecured loans to sovereign borrowers [governments]. After much soul searching, we turned down the request." Next day, however, a competitor stepped in to make the loan. "Within several months," recalls Brainard, "the resistance of my banking colleagues to sovereign...
Yale Provost William Brainard said in a Yale Daily News interview that Yale has discussed the "possibility of significant cooperative relations involving instructional computing with people from...