Word: itt
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Viewed in isolation, each single charge was shocking enough. Yet the persistent allegations about Watergate, about safes full of secret campaign cash and about ITT are so familiar by now that it is tempting to dismiss them as repetitive and tedious. Nonetheless, they suggest, in sum, that something is very much wrong with the mood and morality of Richard Nixon's Administration...
...tale of the attempt by the International Telephone & Telegraph Co. to overthrow Chile's Marxist Salvador Allende unfurled last week before a Senate subcommittee. Armed with reams of memorandums, working papers and personal letters from ITT's files, a Senate subcommittee established that the strange tale essentially began in September 1970, immediately after Allende garnered a plurality of 36% of the vote in Chile's popular presidential election, virtually assuring him of victory in the three-way runoff in Congress the following month. ITT officials, motivated by both misplaced patriotism and fear for the future...
John McCone, an ITT director and former head of the CIA, testified last week that he had offered as much as $1,000,000 in corporate funds to CIA Chief Richard Helms and National Security Adviser Henry Kissinger at the behest of ITT Chairman Harold Geneen. The money, he said, was to help bankroll whatever plans the U.S. Government might have to "encourage the formation of an anti-Allende coalition in Chile." McCone, who is still a consultant to the CIA, explained that what Geneen had in mind was not to create "chaos," but to channel money "to people...
...within a few days, the public has learned of a second ITT scandal--involving that corporation's attempt to give the Central Intelligence Agency $1 million to overthrow the government of Chile--and a $200,000 Nixon campaign gift (subsequently returned) from Robert Vesco, a financier currently indicted in a $224 million securities fraud case. Last week two important developments underscored the Watergate case's importance...
Allende has charged that the nationalization has prompted a retaliatory United States trade boycott. His claim seems justified: Anaconda and Kennecott Copper, giants on the American corporate landscape, were crippled by the move, and one-side-revelation of the ITT case last year was that the conglomerate contemplated toppling Popular Unity to safeguard its investments...