Word: moneyman
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...come-splitting potential. Philip M. Stern, a would-be tax reformer who is, I am afraid, trying to do away with this convenient practice, says that in 1964 the wife of a man with $1,000,000 in taxable income was worth $2,766,153.75 to him if his moneyman knew the right finaglings...
Pleased. President Johnson, who has been pressuring for a substantial easing in monetary policies, let it be known he was "pleased." But many a moneyman growled that the Chase's rate cut seemed too much, too soon. "A case of acting without regard to supply and demand," insisted President Mills Lane Jr. of Atlanta's Citizens & Southern National Bank. Fitting deeds to the dogma, other commercial banks, led by Manhattan's First National City, next day cut their prime rates only half as much, from 6% to 5½%. If the rate settles across...
That was when Dr. Guido Carli, now 52, governor of the Bank of Italy and a sound moneyman if ever there was one, took action. Carli traveled to Washington, came back with a $1.2 billion line-of-credit offer. Though little of the credit was actually used, its mere promise helped stabilize the lira. Next, Carli imposed a tight-money policy on Italy's banking system; among other things, banks were limited in the amount of their foreign borrowing. Under prodding from Carli, the Italian government cut its own spending, added taxes on autos and gasoline...
...first quality of a central banker," says Carli, "is to be coldblooded. The bank governor must be a little independent of the currents and undercurrents of public opinion, to express problems in less emotional terms." Another moneyman widely admired among his colleagues is West Germany's Otmar Emminger, 54, who works as a director under Bundesbank President Karl Blessing. Emminger, who managed to attend five meetings last week, helped organize Working Party III, is a thoroughgoing internationalist who believes strongly in monetary cooperation be cause "we are all in the same boat...
...nomination. Then again, Lyndon Johnson looks like even more of a shoo-in for November, so many of the kingmakers decided they might as well sit this one out. "On a ten-to-one shot, what's the use of jumping off the building?" asked one important G.O.P. moneyman...