Word: moneymen
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...posted a current-account surplus of $69 billion last year, but that is down from $87 billion two years earlier. (One reason is the surge in Japanese travel, which boosted the country's deficit in tourism spending from $3.7 billion in 1985 to nearly $20 billion last year.) Japanese moneymen are not likely to start selling off their investments all over the world, since those were made with long-term goals in mind. But some of the boldness may go out of Japan's acquisitiveness as the country adjusts to its new financial conditions at home...
...coke smugglers can accomplish this feat because they have plenty of help. They rely on a booming money-laundering industry that serves a clientele ranging from tax-avoiding corporations to the Iranscam schemers. The system depends on the collaboration, or often just the negligence, of bankers and other moneymen who can use electronic-funds networks and the secrecy laws of tax havens to shuffle assets with alacrity. The very institutions that could do the most to stop money laundering have the least incentive to do so. According to police and launderers, the basic fee for recycling money of dubious origin...
...budget deficit is. How it rolls like a tidal wave of red ink over the Administration and Congress, undermining the dollar, pushing up interest rates, shaking the international monetary system and threatening to put future generations of Americans in hock to foreigners forever. How, whenever moneymen gather, finance ministers moan, central bankers chide, and all stare in horrified fascination. How could America get itself into such a mess...
...outcome of one of the most intensely watched corporate takeover fights in the 197-year history of the court. When clerks appeared at 10:30 with copies of Chancellor William Allen's 79-page ruling, the aggressive crowd tore the documents from the court officials' hands. Dialing their offices, moneymen shouted into their cellular phones, "The Time-Warner merger...
Politics will be very much on the minds of central bankers and finance ministers when they convene in April in Washington at the semiannual meeting of the IMF and World Bank. At a series of closed-door meetings, the world's leading moneymen will tackle the details of the U.S. proposal in earnest. They will probably have little trouble agreeing that debt relief is a worthy goal. After that, nothing will come easy...