Word: moneymen
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...clearly undervalued; foreign money was pouring into Canada and aggravating an inflationary trend. Yet Canadian officials did not want to try to guess what official price would be right. So they decided last week to let the Canadian dollar sell for an indefinite period at whatever price foreign moneymen would pay (which by week's end was just under 97 U.S. cents). The move followed the example of West Germany, which last fall let the mark's value float for four weeks before it finally boosted the official rate from...
...European moneymen raised questions about whether King's fast attempt to save I.O.S. was a defensive maneuver to help his own stock, and they worried about the interlocking relationships between King and I.O.S. Fund of Funds, I.O.S.'s second largest mutual fund, has put $60 million of its $473 million of assets into King Resources or projects in which the company is involved. King Resources and the fund jointly own 22 million acres of Canadian Arctic oil leases; critics contend that the value of these lands was exaggerated...
Serious film makers are usually at odds with moneymen, and this year's emphasis on youthful rebellion served to deepen the difference. Warner Brothers' contribution to flackery was several hundred students bused in to organize a demonstration. In the middle of a group of spectators and tough French cops, a small group of students unfurled some innocuous banners and began to croon, "All we are asking is give peace a chance." Then the protesters launched into a version of "We Shall Overcome." The cops had heard that one before, and scented trouble. One of them began to advance...
...moneymen who were vying to take over. By week's end the rescuer had not been chosen, but the flamboyant, 42-year-old Cornfeld was forced to resign as chairman and chief executive of the I.O.S. empire, which throughout Europe is now called "S.O.S...
Among the world's central bankers, Martin symbolized the nation's financial conscience. In times of crisis, when balance of payments deficits threatened to start a run on the U.S. stock of gold, foreign moneymen repeatedly said that Martin's reassuring presence was worth $1 billion to U.S. reserves. Some Washington experts believe that European bankers could have pushed through an increase in the price of gold, which would have amounted to a devaluation of the dollar, if Martin had not skillfully resisted the move for years...