Word: moneymen
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Dates: during 1960-1969
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...world's money managers gathered in Washington last week for the annual meeting of the International Monetary Fund. African financial chiefs approached the IMF with requests for more support. Asian delegates asked the U.S. Government to underwrite the proposed Asian development bank. Among the 2,000 moneymen from 103 nations who crowded into the Sheraton Park Hotel, such bankers as the U.S.'s David Rockefeller and Robert Roosa, Britain's Viscount Harcourt and Italy's Ettore Lolli swapped shop talk and negotiated private deals...
Conrad's Comrade. The "Citibank," as moneymen call it, last week dealt into another fast-growing business: credit cards. For $12 million, it will buy control of Hilton Hotels' profitable Carte Blanche, which bills $90 million a year. In a complex pact, Hilton and Citibank each will own half of Carte Blanche, but the bank will hold all the voting stock. Hilton figures that Citi bank's worldwide outlets will help Carte Blanche trump the two leaders in the field, American Express and Diners' Club. Moreover, Citibank is strong in the eastern U.S., and Carte Blanche...
...reform through the Group of Ten?but it would still prefer the IMF. In a book published this week, Monetary Reform for the World Economy, former Under Secretary of the Treasury Robert Roosa speaks up for new money to be created within the IMF?a position that European moneymen believe may reflect just what the U.S. wants...
...Dollar's Primacy. While the moneymen agree that the present reserve-currency system is inadequate, they sharply disagree about what to do. The U.S. and Britain are more or less allied on one side, and the Continental nations are on the other. Les Anglos, as Charles de Gaulle calls the Americans and British, are worried about prospects of trade deflation, which could lead to an international recession. Many Continentals are more worried about inflation-that the U.S. may soon again revert to its habit of inundating their economies with dollars over which they have little control...
...pointedly avoided any mention of devaluation in Washington and shunned the word crisis to describe the pound's troubles. Callaghan swapped political stories with Lyndon Johnson for 45 minutes, talked about the pound's situation with Treasury Secretary Henry Fowler, weighed in with Washington's moneymen in a round of dinners, luncheons and conferences. He also dined privately in Manhattan with 30 financial and business leaders. "Short of something cataclysmic," he said, "there is no reason why we should be in trouble...