Word: steered
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Dates: during 1970-1979
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...forms, cutting across rivalries as well as boundaries. Westdeutsche Landesbank Girozentrale, for instance, joined with National Westminster, Chase Manhattan and the Royal Bank of Canada to start "Orion." The constellation is divided into three parts: a commercial bank, a merchant bank, and a marketing wing that will steer customers of the four shareholding banks to Orion. Another new banking combine is London Multinational, which is backed by Baring Brothers, New York's Chemical Bank, Credit Suisse, and Chicago's Northern Trust. Still another grouping, called Atlantic International, brings together, among others, Banco di Napoli, National Shawmut of Boston...
...Federal Reserve's prime job is to prevent just such disasters. After Texas Congressman Wright Patman, an archenemy of banks and railroads, blocked the Nixon Administration's efforts to prop up the Pennsy with a $200 million loan guarantee, the Federal Reserve moved swiftly to steer the financial system out of danger. The board made a special point of offering to advance credit to commercial banks through its "discount window," providing them with much needed funds for relending to corporations that had to pay off commercial paper. The mechanism was conventional, but the need for speed...
...foundation to channel money into cancer research. Much of his estate will go to the foundation. Characteristically, he has made his arrangements without fanfare, and with attention to legal nuance. In concentrating on detail, however, he seems to have missed one major item: the selection of a successor to steer one of the largest and last personal financial empires...
...calf is a bum steer...
...private, studious, moderate jurist of 61, Blackmun could emerge as the court's pivotal figure. He may have the deciding vote in many important cases. With Republican appointees in the majority, suggests University of Chicago Law Professor Philip Kurland, a leading court watcher, the Burger Court may steer slightly away from the Warren Court's judicial activism-but hardly toward the conservatism that "Vice President Agnew and Attorney General Mitchell are seeking to create...