Word: rulers
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Dates: during 1990-1999
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...held a total of $400 million in the bank. The outraged victims of the shutdown, who included Indian and Pakistani families and some 30 municipalities, stood to receive just 75% of their money, up to a maximum of about $25,000. But Sheik Zayed bin Sultan al-Nahayan, the ruler of Abu Dhabi who acquired control of B.C.C.I. for $1 billion last year, was still fuming because the clampdown shuttered the bank without warning just as he was planning to restructure it. "He will do nothing unless there is incredible political pressure that he simply cannot resist," says a highly...
...could an impeccably honest Bedouin sheik get stuck in a mess like this? Despite his solid-gold reputation, Sheik Zayed bin Sultan al-Nahayan, ruler of Abu Dhabi and President of the United Arab Emirates, found himself last week at the center of the largest global banking scandal ever. As the most recent owner of the notoriously corrupt Bank of Credit & Commerce International, which regulators closed earlier this month, Zayed has become the unwitting goat for nearly two decades of alleged fraud by the bank's Pakistan-based managers and for years of neglect by banking authorities around the world...
This atavistic trend is a direct result of the Soviet capitulation in the cold war. The core of communism was a strong center: it was from there that the orders and the troops came. A single ruler could intimidate or punish the farthest corner of his domain. The Yugoslavs used to say, "We have six republics, five ethnic groups, four languages, three religions, two alphabets -- and one Tito." Now that there is no Tito, things fall apart; the center cannot hold...
Meanwhile B.C.C.I.'s far-flung empire is imploding. According to investigators, as much as $10 billion is missing from the company's books. Sheik Zayed bin Sultan al-Nahayan, the ruler of Abu Dhabi, has pumped in $1 billion to keep the bank afloat since taking it over last year and has dismissed hundreds of the Pakistani bankers who ran B.C.C.I. in its heyday. Abu Dhabi, the Bank of England and the Federal Reserve are struggling to come up with a workable restructuring plan that will satisfy regulators amid continuing disclosures of illicit banking activity...
Finding himself one moment a rebel, the next the de facto ruler of Ethiopia, Meles Zenawi allowed himself a wry comment during a press conference in London last week. Asked about the banner hanging behind him, a red flag emblazoned with the image of an AK-47, the modern guerrilla's weapon of choice, the leader of the Ethiopian People's Revolutionary Democratic Front smiled. "I suppose we won't use the Kalashnikov anymore," he said, giving voice to widespread hopes that the decades of civil war in Ethiopia were finally over...