Word: swiss
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Dates: during 1980-1989
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...official: "It's the first sign that U.S. ^ banks are prepared to share the burden of the debt crisis." Other foreign moneymen welcomed Citicorp's action because it might mean that all U.S. banks will start treating Third World debt under the same terms as Japanese, West German and Swiss banks, which have already established substantial loss reserves. A "spectacular maneuver," said Michel Cahier, a commentator for La Tribune de l'Economie, a Paris financial daily. "American financial circles appear to be ready to stop fooling themselves and the rest of the world...
Jennifer M. Walser '90 found a space freshman year by sheer luck. She brought a car to Harvard during freshman week and left it at the Swiss Chalet Inn near the Alewife T stop for several days. When she returned to get it, she did not have a ticket and figured that the owners of the inn had not noticed it. Walser says that she ended up leaving the car at the inn for most of the year...
...Only about $3.5 million of the $30 million that Iran paid for U.S. weapons was spent to assist the contras. Another $1 million was spent on other covert activities that Secord would not fully describe, and $2 million is still unaccounted for. Nearly $8 million is sitting in frozen Swiss bank accounts controlled by Secord's business partner, the Iranian-born Albert Hakim. What will eventually happen to this money is uncertain...
These and other portions of Secord's tale remain to be confirmed, challenged or expanded by subsequent witnesses, prominently including former National Security Adviser Robert McFarlane, who will testify this week; Hakim, who has the most detailed records of the maze of Swiss bank accounts through which Iranian and contra arms money flowed; and eventually North. But only one or two of these witnesses will be in a position to give testimony as detailed and sweeping as Secord...
Another bone of contention was the $7.9 million paid by Iran for U.S. weapons and left in Swiss accounts. Legislators contended that it is Government property, since it derives from the sale of federal assets. Secord insisted that it properly belonged to the "enterprise," meaning essentially Hakim and him. Under that interpretation, observed House Counsel Nields, "you could have gone off and bought an island in the Mediterranean." Yes, said Secord, "but I did not go to Bimini." The allusion to Gary Hart's troubles set off a gale of laughter. Secord eventually asserted that he intended to donate...