Word: iranian
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Dates: during 1980-1989
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...that looked relatively simple in principle, but the technical details were still complex. Iranian negotiators and U.S. banks disagreed on the amount of the loans and the interest accrued by the frozen Iranian deposits. Anticipating such knotty problems, representatives of the U.S. banks that hold the largest amounts of Iranian cash, including the Bank of America ($1.8 billion), Manufacturers Hanover Trust Co. ($416 million) and Chase Manhattan ($369 million), had been meeting quietly in New York and London for several days. Consulting with them were officials of the Bank of England and the U.S. Federal Reserve System. Once they heard...
...funds. Carswell was back in his office at 7 a.m., talked to Christopher by telephone, then rushed off to a 7:30 a.m. breakfast at the White House. There, in a meeting described by one participant as "unusually upbeat," the President approved an order to "preposition" some of the Iranian money...
...movement of Iranian money from the various European branches could not be executed quite so quickly. Still, the task apparently could be handled mainly by telephone once each bank determined the precise amounts to be credited to Iran. Said a banker in Frankfurt: "All I need is a phone and a key to get in the front door. It's not a complicated thing." Most of the branches keep funds on deposit at their home offices in the U.S., and each bank's top officials apparently could order them transferred to the Federal Reserve System...
...Friday filled with crisis-atmosphere meetings in Washington, London and Algiers, the money mechanics got the most intense attention. But at the same time an American response to the latest Iranian package was carefully drafted by Christopher after frequent consultations with Washington. It was sent to Tehran through the Algerians in time to be on the desks of Iranian officials on Saturday morning...
...bitterest bureaucratic foe, patiently studied his briefing books. Not once did he betray his annoyance. Staunch discretion and a willingness to let others take credit have been the building blocks of Christopher's career. Those qualities, say admirers, have made him an ideal chief negotiator for the Iranian hostage situation. Quiet and imperturbably dogged, he is the master of thankless tasks...