Word: moneymen
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Thousands of moneymen also discovered that the glitter of gold and silver can be a sometime thing. Unrest in the Middle East and inflation in the U.S. sent the price of gold soaring to a high of $875 per oz. in late January, an increase of more than $300 in less than four weeks. That same month, silver went from $39.50 per oz. to $50.35 per oz. People rushed to determine the value of their ancestral sterling silverware or gold rings, and of that was soon in the melting ovens metal dealers. The inevitable sell-off followed even more quickly...
...major banks now routinely assess the credit risks of countries. The Institutional Investor, a U.S. monthly for moneymen, regularly publishes a summary of the ratings cited by world bankers. As the most creditworthy nation, the U.S. is ranked first among the 98 countries listed in the latest survey, while Poland is rated 71st and Zaire is at the bottom. The Soviet Union ranked 27th and Brazil 50th...
...LDCs would be insufficient to cover their deficits. De Vries, however, was among a minority of economists who correctly argued that OPEC would rapidly increase its imports and who predicted that international banks could handle the remaining petrodollar surplus. Now that optimist De Vries has turned pessimist, world moneymen are becoming very nervous...
Large U.S. banks argue that instead of blocking foreign investment, Congress should remove the regulatory shackles from American moneymen. In particular, they want changes in laws that prohibit U.S. banks from operating in more than one state, so that they too could buy American financial institutions. Says Chase Manhattan President Willard Butcher: "I would at least have liked the chance to bid on Crocker Bank." Thousands of small American banks, though, are expected to continue lobbying hard against any legislation that would permit large domestic banks to enter their markets. They are no more eager to be swallowed by Chase...
Then clever moneymen discovered another loophole in the rules: give the gifts or bonuses to the depositor's friend. Gifts of cash generally have proven more popular than appliances and other goods, possibly because cash can be more easily divided...