Word: lynching
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...year clerk at First National Bank of Chicago set in motion a simple scheme that nearly bilked his employer out of $68.7 million. Aided by a gang of accomplices and his knowledge of a few secret codes, Gabriel Taylor, 27, electronically transferred the money from accounts belonging to Merrill Lynch, United Airlines and Brown-Forman distillers to accounts that some of the conspirators had set up under assumed names at two banks in Vienna. Before the gang could collect its loot, First Chicago discovered the fraud and alerted the FBI, which last week located the money and arrested Taylor...
...codes and knew the names of the appropriate executives at various corporations. The gang's original plan called for stealing $232 million from the accounts of quite a few companies, including Hilton, but the group eventually settled on taking the $68.7 million from United, Brown-Forman and Merrill Lynch. The Chairman was able to recruit Taylor, who had no previous police record or employment problems, by offering him a cut of $28 million...
...Senate committee hearings the next day, former Treasury Secretary Donald Regan took time off from promoting his new book to urge suspension of all index futures trades. "The public has every reason to believe the present game is rigged," said Regan. "It is." Having spent 35 years at Merrill Lynch, including nine as its chairman, he should know...
Regan now works out of a spacious office looking up the Potomac toward the White House from Alexandria, tending to the substantial investment portfolio he assembled during his 35-year career with Merrill Lynch, the last ten as chairman of the board. Still full of what he calls his "Irish jollity," the feisty ex-Marine is unapologetic about his disclosures. "What do you mean 'kiss and tell'? To my knowledge I've never been kissed by anybody in the Reagan Administration...
Shame on you Harvard, you should show more concern and respect for your surroundings! Captain James R. Lynch U.S.Navy Kennedy School of Government