Word: branched
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Dates: during 1980-1989
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...antiabortion groups as Operation Rescue that block abortion clinics and harass their clients. "It's quite ironic that Cardinal O'Connor is so angry over this act of civil disobedience, when he has espoused a form of it himself," said Ellen Carton, executive director of the New York State branch of the National Abortion Rights Action League. The Cardinal offered an answer as he gave the benediction for the interrupted Mass at St. Patrick's. Said O'Connor: "I must preach what the church preaches, teach what the church teaches...
...prospective customer says he expects a six-figure cash windfall soon and would like to bring the money "quietly" into the U.S. At first the banker responds cautiously. "This money isn't, ah, tainted, is it?" When the American assures him it is not, the officer of the Curacao branch of the French-owned Credit Lyonnais Nederland smiles and orders another tonic water. In that case, says the banker, he can arrange a so-called Dutch sandwich...
Under this multilayered plan, the Paris bank would set up a corporation for the customer in Rotterdam, where he would deposit his cash in the bank's local branch. The American would control the newly created Dutch corporation through an Antilles trust company, but his identity as the owner would be protected by the island group's impenetrable secrecy laws. The Caribbean branch would then "lend" the American his own money held in Rotterdam...
...money-laundering center can be spotted by the huge surplus of cash that flows into the local branch of the Federal Reserve System. In 1985 the Miami branch posted a $6 billion excess. But after several years of intense federal probes of South Florida banks, Miami's cash glut fell last year to $4.5 billion. Much of the business went to Los Angeles, where the cash surplus ballooned from $166 million in 1985 to $3.8 billion last year. Despite such rocketing growth, the staffing of federal law-enforcement offices in L.A. still lags far behind the levels in Miami...
...group that deviates from these basic rules runs the risk of losing University affiliation. If it decided to stay with Harvard, its defection might prompt the national branch to consider its position. If its Harvard affiliation were withdrawn, the University's name would be kept clean...