Word: branches
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...case was all but closed. In June, Drogoul, 43, former manager of the Atlanta branch of the Italian Banca Nazionale del Lavoro, pleaded guilty to 60 counts of a 347-count federal indictment that accused him of devising an elaborate "off-books" scheme to hide $4 billion in unbacked loans and unauthorized U.S.-backed credits to Iraq. But on the eve of a sentencing hearing that could condemn him to 390 years in prison, Drogoul replaced his public defender with the wily Cook, who moved to vacate the guilty plea...
...President is serious, his scheme is wrongheaded for another reason: it undercuts his professed desire to "right-size" government. Immediately after proposing the pay cut, Bush called for "a streamlined reorganization of the Executive Branch through a consolidation of agencies and bureaus that will enable us to do our job better." He struck at the right culprit -- the bloated bureaucracy -- but his method is madness. "As Presidents have sought control of the governments they oversee, they have added increasingly redundant layers of middle managers at the expense of those who do the real work," says Paul Light, a public affairs...
...crowd. Two workers rush over, hoist him by his spindly limbs and lay him down beneath a shade tree on the far side of the courtyard. The boy is suffering from severe dehydration, and the nurse hastily inserts an intravenous tube, hooking the bottle to a branch. It is too late. As the boy's eyes roll back beneath fluttering eyelids, an older woman gently presses them shut. The boy came from the village of Malwuen, 34 miles away, where both parents and eight of his brothers and sisters succumbed to starvation in the past six months. Four days...
While at Kissinger Associates, Eagleburger served on the board of the Yugoslav-owned LBS Bank, which was convicted of money laundering in 1988. About one-quarter of its business came from Banca Nazionale del Lavoro, whose Atlanta branch was instrumental in diverting U.S. agricultural loans to arms purchases by Saddam Hussein. Eagleburger has never been accused of any wrongdoing or even any knowledge of the banks' illegal practices, but Congressman Henry Gonzalez continues to pursue the theory that high officials in the Bush Administration have tried to cover up these activities. In addition, critics charge that Eagleburger's former financial...
There was, for example, the highly sensitive question of B.C.C.I.'s direct involvement in the secret arms-for-hostages deals in Iran during the 1980s, in which it acted as a broker and financier of weapons sales. Ollie North maintained three accounts at the B.C.C.I. Paris branch, and B.C.C.I. was used to transfer money to the contras...