Word: friedel
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...surprisingly, bank officers are beginning to draw grim little circles around those areas of the globe that they no longer consider good credit risks. Reports TIME'S European economic correspondent Friedel Ungeheuer from Brussels: "In black Africa, no nation with the possible exception of Nigeria, an oil exporter, is still considered a good credit bet. Apart from Singapore, New Zealand, Australia, Taiwan, and Malaysia, all of the Far East is out. In South America, only Brazil and Venezuela, another major oil producer, can still count on jumbo loans. For most of the developing world, the borrowing spree is just...
European Economic Correspondent Friedel Ungeheuer, who reported foreign reaction to the U.S. monetary moves, studied economics at Harvard (Class of '56) under John Kenneth Galbraith. "After breaking his leg in a skiing accident," says Ungeheuer, "Galbraith regaled his students with an unsentimental view of human fallibility, reminding them that man's greed and short memory make monetary history eminently repeatable." Such lessons, notes Ungeheuer, "blessed us with that indispensable tool of economic journalism: magnificent hindsight." Last year, however, when reporting on the coming gold rush for TIME, Ungeheuer demonstrated the much rarer gift of economic foresight, predicting...
...Eurodollars into the economy do not go far enough. In London, Geneva and other offshore finance centers, no sooner were the Fed's money-tightening moves announced than finance men began huddling with their lawyers, looking for ways to circumvent the new rules. Reports TIME'S European economic correspondent Friedel Ungeheuer from Brussels: "The game of the week is finding loopholes in the Fed's effort to keep Eurodollars out of the U.S. Like water finding the same level in connected containers, an ocean of money can flow through even the smallest opening...
...machines to catch the latest gold fixings and dollar-mark exchange rates, and swapped anxious rumors. Inter-continental Arab finance ministers ducked quietly into Bill Miller's first-floor suite at the Inter-continental Hotel to get his assurances that the dollar would be defended. Reported TIME Correspondent Friedel Ungeheuer: "An undercurrent of fear and confusion about what has been happening on the money markets ran through the corridors of the modern Sava Center, where the I.M.F. sessions were held. Cecil de Strycker, governor of Belgium's central bank, confided: 'The only thing that is certain...
...faculty filed out. Barnard Bailyn, Winthrop Professor of History, turned in his fall class to plan his new Core course. David H. Donald, Warren Professor of American History, dropped out to work on a book and the new Afro-Am executive committee. Frank B. Friedel, another Warren Professor, headed for the hinterlands on sabbatical. Thomas Holt, associate professor, is nowhere to be found...