Word: heimann
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More than underlining his differences with Volcker, however, Greenspan must stress his similarity in one major respect: unwillingness to be manipulated for partisan political purposes. Says John Heimann, vice chairman of Merrill Lynch Capital Markets and a former U.S. Comptroller of the Currency: "The most important thing he has to do is give the markets convincing evidence that he is free of influence from the White House." Without that evidence, foreign investment in U.S. securities, a crucial factor in underwriting the budget deficit, might well dry up. That in turn would undoubtedly lead to a vicious spiral of increased interest...
...Third World countries is, if anything, more parlous. Most debtors have fallen victim to a general sluggishness in the world economy, which has reduced their export income and thus their ability to pay. "Lack of economic growth in the U.S. and abroad is the real time bomb," says John Heimann, vice chairman of Merrill Lynch's Capital Markets Group...
...Chase Manhattan Bank: "Never underestimate the ingenuity of a government when it needs money." Critics point out that the new legislation will create an unusual two-tier system in which American investors will continue to pay taxes on bond earnings while foreigners will not. For this reason, John Heimann, former U.S. Comptroller of the Currency, calls the tax repeal a "cynical decision" that invites abuses. American drug dealers and other tax dodgers could use foreign middlemen to invest their cash tax-free in U.S. bonds...
...Hans L. Heimann Cranston...
...rink, because the Omni's owners were failing to pay off $90 million in debts. And last week Richard Kattel, boy-wonder chairman of Georgia's largest bank, Citizens and Southern National (assets: $3.5 billion), quit in frustration. His reason: Comptroller of the Currency John G. Heimann, the chief U.S. banking regulator, had just forced C & S to reclassify as questionable an additional $11 million in loans, mostly on real estate. That will convert the skimpy $3.2 million profit that the bank reported for 1977 to a $7.8 million loss...