Word: saxonism
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...Lorelei Lee ("A kiss on the hand may be quite Continental, but diamonds are a girl's best friend"), most European women welcome the new wave of hand kissing, and to their men it has always seemed a more intriguing approach to a woman than the aseptic Anglo-Saxon handshake. As a Viennese satirist wrote...
...Gaullists include Konrad Aden auer, increasingly suspicious of U.S. aims, former Defense Minister Franz Josef Strauss, former Foreign Minister Heinrich von Brentano, and Bundestag Deputy Karl Theodor Baron von Guttenberg. They are all more or less sympathetic to De Gaulle's concept of a little Europe, with "Anglo-Saxon" influences diminished...
...Friend at Chase Manhattan. Last week the annual meeting of the American Bankers Association in Washington heard the strongest anti-Saxon attack ever made by a big, prestigious banker. Said David Rockefeller, president of Manhattan's state-chartered Chase Manhattan Bank: "I believe the Comptroller would be well advised to show greater restraint in exercising the immense power he now possesses. It would be a dubious honor for him to go down in history as the man who undermined the dual banking system...
Like many state bankers, Rockefeller has a particular reason to be upset. Saxon has permitted Manhattan's First National City Bank to open 26 branches in fast-growing suburbs, while Rockefeller's competing Chase has so far been limited by New York State to only eight branches. Beyond that, Saxon wants to permit national banks to offer longer and bigger mortgage loans and to extend their limits on other loans. This is all the more controversial because some federal officials are worried that bankers are already taking on many bad credit risks...
...Help from Bobby. Saxon has been colliding with strong forces ever since 1961, when he came to Washington from a job as counsel to Chicago's First National Bank. He has quarreled with Bobby Kennedy about the Justice Department's attempts to block bank mergers, with the Federal Reserve Board about whether banks should be allowed to underwrite state and municipal revenue bonds, and with the Securities and Exchange Commission over whether bank stocks should be regulated by the SEC. Last spring, after Saxon asked regional banking supervisors to drum up support for him among the national bankers...