Word: ccc
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...workers in the California Conservation Corps (CCC), many of whom were assigned the task of stripping trees of fruit as Malathion-carrying helicopters circled overhead, refused what they thought was hazardous duty...
...want you to think CCC, FDR, WPA," Brown said, referring to the Civilian Conservation Corps and the Works Progress Administration, two programs designed by Roosevelt to battle the depression...
...Government connection surfaced when it turned out that a fourth of the export credits extended by BNL had been backed by the Commodity Credit Corporation. The CCC, an arm of the Department of Agriculture, provides guarantees to spur sales of U.S. farm products. But the department's own inquiry revealed that the CCC had no idea whether the credits it had backed were used to purchase U.S. farm commodities that actually reached Iraq, or were resold to third countries for hard currency. Possibly some of the credit guarantees backed shipments of nonagricultural products like transportation spare parts...
...indiscretions of BNL and the CCC were badly kept secrets. Says Italian Senator Francesco Forte, a member of a parliamentary commission investigating the BNL affair: "It was widely known in Italy that the way to finance operations with Iraq was through Atlanta." Regulatory negligence in the U.S. banking industry was common during much of the past decade. Congressional watchdogs had been complaining for three years about reports that CCC credits were not carefully supervised. And the Reagan and Bush administrations consistently turned a blind eye to Iraq's pursuit of missiles and chemical weapons. Says W. Seth Carus, a missile...
...assistance apparently did not end when the war did in 1988. Even after the potential misuse of CCC guarantees was disclosed, and despite Iraq's worsening financial condition, the Bush Administration approved an additional $500 million credit line for this year under the same CCC program. Officials argued that any previous problems involving diversion or misuse of its guarantees had been solved...