Word: moneymen
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...fully aware of all that. He knows that playing politics with the economy could be disastrous. Preserving financial stability during these uncertain and jittery times would have been difficult enough for Paul Volcker, and it will be doubly daunting for Alan Greenspan as he proves his mettle to anxious moneymen around the world...
...virtually all his own. He was the valiant tamer of U.S. inflation, the tightfisted money manager who stopped one of the worst price spirals in this century and made it bearable once again for Americans to go to supermarkets and shopping malls. But that was not the only reason moneymen around the world slept more restfully knowing Volcker was in charge. He was a crisis manager extraordinaire, a five-star monetary marshal who helped save the financial system from panic when it was threatened by Mexico's debt crisis in 1982 and Continental Illinois bank's near collapse...
...policy. Brazil's Finance Minister, Luiz Carlos Bresser Pereira, said he saw the bank's move as a prudent shoring up of its foundations. Said a top Argentine official: "It's the first sign that U.S. ^ banks are prepared to share the burden of the debt crisis." Other foreign moneymen welcomed Citicorp's action because it might mean that all U.S. banks will start treating Third World debt under the same terms as Japanese, West German and Swiss banks, which have already established substantial loss reserves. A "spectacular maneuver," said Michel Cahier, a commentator for La Tribune de l'Economie...
...world by the omission of some of the regular processes which have been appointed from of old." What railroad men and land speculators were to the 1870s, investment bankers and risk arbitragers are to the 1980s. Perhaps a , modern-day Thorstein Veblen could explain the eagerness with which moneymen like Boesky vied with one another in acquiring the luxurious trappings of a baronial life-style. But the insider-trading scandal, a grotesque perversion of the Reagan free-market ethos, was perhaps the inevitable consequence of the gospel of wealth run amuck...
...known as Wall Street's Watergate. That hardly seems an exaggerated description for the drama of financial power and corruption that was exploding on both coasts of the U.S. last week. An enormous scandal was spreading at the core of America's investment community, touching some of the biggest moneymen in the country. A civil and criminal investigation was peeling back layer after layer of evidence in a bid to uncover the full pattern of illegalities that had come to light in the $2.5 trillion U.S. stock market. There was even that ultimate Watergate touch: the disclosure that for weeks...