Word: mutually
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Dates: during 1970-1979
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RUSSIA AND THE WEST. Brezhnev, who has committed his own prestige to an improvement of relations with Western Europe, did not conceal his anger that West Germany has not yet ratified the treaties of Moscow and Warsaw (TIME, March 20). The treaties, which call for mutual renunciation of force in settling disputes, are central to Soviet hopes of confirming the political status quo on the Continent while keeping the Communist bloc tightly insulated from contacts with the West. Brezhnev threatened that the consequences of a failure by Bonn to approve the treaties would be extremely serious. Said he: "The Federal...
...wrong questions. "Who's paying?" he demands to know. "Who's behind the candidate? Who's really winning?" This is another strong tenet in the Anderson credo -one that unites him both philosophically and tactically with Ralph Nader, with whom he shares material and mutual admiration. They are both obsessed by the influence of private power and big money on public men and public policy. Almost by reflex, Anderson seems to smell danger in the contacts between Government officials and private industry...
Alarmed by the scandals that have rocked I.O.S., Switzerland has tightened its securities laws. These now prevent the selling "from a Swiss base" of mutual funds that are not registered with the Swiss Federal Banking Commission. To register them now would rob I.O.S. of one of its few remaining assets-freedom from legal surveillance. The new Swiss laws thus have the effect of giving I.O.S. notice to abandon its Geneva headquarters...
When Bernard Cornfeld's mutual-fund empire came tumbling down in a spectacular mid-1970 crash, his main company, Investors Overseas Services, sank so low that moneymen might well have figured it had nowhere to go but up. Not so. Under Cornfeld's successors, I.O.S.'s troubles have been endless. The several mutual funds that it manages have gone on dwindling in value, to about $982 million last week, from $2.3 billion in the late 1960s. Roughly 300,000 investors, mostly Europeans, still have money tied up in I.O.S.-and they are hurting. Anybody...
Nassau Haven? I.O.S. cannot move its sales or executive offices to Ferney-Voltaire, though. Like the Swiss, French authorities are increasingly antagonistic toward the foundering empire. Indeed, I.O.S.'s troubles have stirred such wide suspicion of unregulated mutual funds that the company cannot easily find a suitable haven anywhere in Europe. A move to Nassau in the Bahamas is rumored...