Word: slush
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Dates: during 1970-1979
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Bribery at Home? When the wave of slush-fund and payoff scandals began to break, he also developed the idea of consent agreements. His bright young staff-average age is under 30-would collect evidence of wrongdoing and confront the companies with it. Then the corporations would continue the probe under SEC supervision, using untainted directors, lawyers and accountants to do the work. In the Gulf Oil case, the guilty company spent $3.5 million on its investigation...
...proposed reforms were mild enough, but they stirred a row when they were presented to the Democratic caucus. The main opposition came from Hays' old friends and allies, who argued, rather lamely, that the consolidated accounts would become a "slush fund" so offensive to the voters that the majority Democrats would all be thrown out of office. Among those who pointed with alarm was South Carolina's Mendel Davis, who once kept Liz Ray on his payroll as a favor to Hays. Other Democrats, mainly Southerners with safe seats, fought against tightening a system that handed...
...contention that this is not "an actor's film." Hal Holbrook is brilliant as Deep Throat, giving him an arrogance and condescension that make that famous nonperson's behavior explicable. So is Jane Alexander as the edgy mouse of a bookkeeper whom Bernstein persuades to talk about the slush fund at the Committee for the Re-Election of the President. Penny Fuller and Lindsay Anne Grouse appear as newspaperwomen who help out with leads at key moments?the former dizzily, the latter with touching reluctance to betray a lost love...
...Watergate Special Prosecutor's Office meted out tiny fines-usually $5,000 for the guilty corporation and $1,000 for the top officer-and closed its books. But the SEC, fearing that the political contributions had violated reporting rules, promptly reopened all the cases. It discovered several slush funds...
...Thomas V. Jones resigned as chairman of Northrop and is supposed to be replaced as president no later than June 16; after that, he may-or may not-stay on as chief executive. Gulf fired Chairman Bob R. Dorsey, even though his degree of knowledge of the slush fund was not proved...