Word: legerdemain
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...Angeles, the Magic Castle, an eleven-year-old theater-restaurant devoted to the art and craft of legerdemain, is enjoying its most successful year. Says Resident Card Wizard Charles Miller, "Magic is surging; the rewards are better both financially and what you might call soul filling. Even the oldtimers are better." In North Hollywood, Magician Mark Wilson employs a full-time staff of 20 to devise and build special effects to astound audiences at conventions and trade shows...
...TRAVEL. He roamed the island, picking up work as he went. Seven years later, after earning a degree in psychology, he convinced the Canada Council that magic was an art form in need of further investigation. The council, which provides governmental funding for the arts, bankrolled his studies of legerdemain with Professor Dai Vernon at the Magic Castle. In three months, he had mastered the trade of the tricks. Two producers caught his act in Toronto and built a hit around him. Today, with a combination of optical illusions, paraphernalia and misdirection, Henning holds audiences in the palm...
Such financial legerdemain has become a specialty of Lazard and Rohatyn since the late 1960s, when Lazard Chairman Andre Meyer turned pessimistic about the future of conventional investment banking (basically, the underwriting of stock and bond issues) and decided to diversify. Lazard, the American arm of an international firm that also has offices in London and Paris, pushed into investments in oil wells, cattle herds and California vineyards, and organized a "mergers and reorganizations" group-a kind of financial salvage crew-under Rohatyn...
BANK RECORDS. Worried about the financial legerdemain of white-collar criminals, the Secretary of the Treasury took advantage of the misnamed Bank Secrecy Act of 1970 to impose far reaching regulations. Effective in 1973, U.S. banks were required to keep copies of checks of $100 or more for five years; if the Government asked to see specific copies, the individual who wrote the checks would not necessarily be informed, though the bank could resist on its own and force the Government to get a subpoena. The regulations further specified that banks must automatically report to the Internal Revenue Service cash...
...late, however, the Kissinger magic has come under attack as a kind of international legerdemain that is at least partly mere illusion. Critics, including Scoop Jackson and liberal academicians, charge that detente has been unproductive, that Kissinger's personal style of diplomacy pays more attention to principals than principles, that he has neglected relations with such proven allies as Europe and Japan for deals with America's ideological enemies in Moscow and Peking. They are hard problems, partly because final judgments remain to be uncovered by events...