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...America's 14,300 banks, killing hundreds of small institutions and stunting the growth of larger ones. Earlier this month federal regulators closed nine insolvent banks in a single day; during all of 1987 they expect to shut down nearly 200, a post-Depression record. Says L. William Seidman, chairman of the Federal Deposit Insurance Corporation (FDIC): "The banking industry will have its worst year since...

Author: /time Magazine | Title: Bleak Year For the Banks | 12/28/1987 | See Source »

Given the closer collaboration between Swiss and U.S. officials, more American criminals are likely to switch to such havens as Luxembourg, Austria, Panama and Hong Kong. Says Richard Stricof, a tax expert with Manhattan's Seidman & Seidman accounting firm: "If I were doing something that I didn't want federal authorities to know about, I would pick a place that was inconspicuous. Switzerland...

Author: /time Magazine | Title: Swiss Secrecy: Don't Bank on It | 12/7/1987 | See Source »

...members of the prodivestment slate, PeterH. Wood '64 and Consuela M. Washington, wereelected to the Board in last year's contest.Another pro-divestment candidate, Gay W. Seidman'78, was elected in the 1986 election...

Author: By Mark M. Colodny, | Title: Mass. Atty. General Ends Election Probe | 11/10/1987 | See Source »

...Seidman '78, an Overseer and formerpresident of the Crimson, is writing adissertation in sociology at the University ofCalifornia at Berkeley, comparing labor movementsin South Africa and Brazil. She is grateful toGarth, Megan and Gavin for pointing outHuntington's contributions in South Africa.PhotoThemba NkosiSouth African workers in Durban in December,1985 celebrating the creation of a new democraticmovement, the Congress of South African TradeUnions...

Author: By Gay Seidman, | Title: Mr. Huntington Goes to Pretoria | 11/5/1987 | See Source »

...stake in First City. The FDIC intervention, financed by annual premiums that U.S. banks pay to the federal agency, kept the Government from having to pay depositors an estimated $1.8 billion if the bank had gone out of business. But "this is no bailout," asserts FDIC Chairman L. William Seidman. "In terms of the stockholders and management, the bank has failed...

Author: /time Magazine | Title: Here Comes the Cavalry | 9/21/1987 | See Source »

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