Word: funds
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Dates: during 1960-1969
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...accusation was leveled by Senator William Proxmire after Budge ad mitted that he had considered an offer to become president of the six mutual funds managed by Investors Diversified Services, the biggest company in the fund business. Budge eventually declined the $80,000-a-year bid, but only after pondering over it for more than two months. A Senate banking subcommittee has called on him to explain how he could justify negotiating for a job in an industry that the SEC regulates...
...Under attack for having accepted an $18,000 private expense fund raised by California supporters, Nixon, the G.O.P. vice-presidential candidate, went on TV to explain and ask for a public verdict. One contribution he would never give up, Nixon said, was his daughters' dog Checkers?hence the name given the speech...
...paper gold. Called Special Drawing Rights, or SDRs, the new reserves will reduce nations' dependence on the diminishing supply of real gold in global finance and create new assets to sustain the growth of world trade. The SDRs will exist only in the ledgers of the International Monetary Fund. Its 111 member nations will be able to draw on these reserves to settle accounts among themselves, and central banks will have to accept them, just like gold, dollars or pounds. The step means that the IMF may one day regulate the world's money supply the way that...
SDRs will be allocated to the IMF members in proportion to their quotas in the fund. The chief beneficiaries will be the U.S. and Britain. Under the deal reached in Paris, $3.5 billion in SDRs will be issued next year. More than $700 million will go to the U.S. An additional $3 billion will be issued in each of the succeeding two years. That is not quite as much as the U.S. hoped for as a start, but it is more than Continental nations wanted...
...Washington's top-dollar-a-year man brought hordes of high-powered executives to the capital to organize and run the World War II and Korean mobilization efforts. He served as informal financial adviser to five Presidents, from F.D.R. to L.B.J., and was at different times a big fund raiser for both parties. Throughout U.S. industry, scores of high executives owed their jobs to a Weinberg introduction or recommendation...