Word: dealers
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Dates: during 1980-1989
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...retired last January from $18,512 job as building inspector in Miami after city investigators accused him of working fewer hours than he claimed. Virgilio R. Gonzalez, 56, master locksmith, runs general discount store in Miami with his wife. Eugenic Martinez, 60, heads leasing department of Miami Chevrolet dealer. James McCord, 63, electronics expert whose letter to Judge John Sirica began to unravel coverup, runs small solar-energy firm in Fort Collins, Colo. Frank Sturgis, 57, self-styled "Communist fighter," sells videotapes in Miami. Claims "Watergate financially destroyed me." Plotted bizarre attempt by Cuban exiles to invade U.S. naval base...
...widespread reputation as a hot-shot wheeler-dealer, bolstered by a term as president of the Hasty Pudding, his membership in the A.D Club, and his role as chairman of the "special gifts" section of the senior solicitation, has made Andrew Farkas someone that most seniors know, or at least have an opinion about. "It's not very easy to walk around the streets of Cambridge with Andy Farkas," notes Michael T. Crane '82, a close friend and future roommate. "You don't get very far very fast. We say hello to a lot of people." The range of opinion...
...that the President's reluctance to distance himself from Donovan threatened to make it "a shoestring Lance case." That was a reference to Jimmy Carter's refusal to abandon his Georgia buddy Bert Lance, whom he had appointed Budget Director, until disclosures about Lance's wheeler-dealer banking practices forced Lance to resign his Cabinet post...
...traders, headed by President Richard Taaffe and Chairman David Heuwetter, used an accounting quirk in the way Treasury securities are valued in so-called repurchase deals. These are short-term transactions in which a bank or brokerage house raises cash by selling a Treasury security to another dealer on a promise to buy it back when the deal expires. Since typical repos last for only a few days, traders normally do not take account of the accrued interest on a bond, bill or note when valuing it in the transaction. Instead, when the interest is paid by the Treasury...
...Butcher argue that Chase had no obligation because the bank had been merely a transfer agent between the brokerage houses and Drysdale. Their arrangement had been with Chase, the brokerage houses argued, not with Drys dale. Chase seemed to be breaking the most fundamental rule of Wall Street: a dealer stands behind his deal. Said one an gry brokerage house executive: "We had taken a negative view of Drysdale's opera tions from the start, and we never had any direct dealings with them at all. We did not know for whom Chase was acting." Added a colleague: "This...