Word: brokering
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Western intelligence sources scoff, saying they have clear evidence that Barbouti was the key broker for the chemical factory. Though they have yet to find proof that he knew the Libyans planned to make nerve gas there, at least one official flatly labels Barbouti "the central villain" of the plot and "the subject of intense scrutiny for some time." In fact, both the Swiss and West German governments are conducting criminal investigations of his role in the Libyan project, and tax authorities in England and Scotland are looking into his Byzantine business affairs...
...because he had built a headquarters for a foreign-owned petroleum group. For nearly a decade he moved around the Middle East and Europe, finally settling in London with his wife and three children. Along the way, he picked up a multimillion-dollar fee as a broker in a Saudi crude-oil deal. That was just the beginning of his good fortune...
...Cabinet departments. Darman has been a policy adviser, a crisis manager, an editor of Bush and Reagan speeches, a campaign strategist and, above all, a negotiator of intricate deals. The one he found "most exciting," he says, occurred when, as a young Justice Department official, he helped broker Vice President Spiro Agnew's resignation. And the most significant? He names the 1986 economic-summit communique, improving policy coordination among the industrial democracies. Years hence, he predicts, that agreement will be seen as historic...
...typical shady deal they are believed to have detected is the "bucket trade," in which a broker slices an extra profit margin by buying a contract from a confederate at a bit more than the going price in the pit, or selling one for a bit less. For example, if a customer asks the broker to sell a soybean contract of 5,000 bushels and the market price is $7.50 per bushel, the crooked broker may sell the contract to a colleague for $7.40. That gives the colleague a discount of 10 cents per bushel, or $500, some of which...
...biggest fear among law-abiding Chicago traders and brokers is that evidence of shady dealings will inspire Washington to clamp down on the freewheeling markets. Already Texas Democrat Kika de la Garza, chairman of the House Agriculture Committee, plans to investigate the Chicago exchanges. Congress could decide to beef up the relatively tiny agency that oversees the Chicago markets, the Commodity Futures Trading Commission, or transfer the authority to the Securities and Exchange Commission. "Figuratively speaking, at least," laments a futures broker, "there'll be police in the pits from...