Word: swiss
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Dates: during 1990-1999
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...enlisting political help. On April 8, a day before he was to testify at D'Amato's hearing, Bronfman invited Hillary Rodham Clinton to his New York apartment for a fund-raising lunch. That morning, New York magazine had published a story on the search for Jewish money in Swiss banks. Bronfman ripped the pages out and gave them to Clinton. "Will you please read these?" he said. "You will understand how important it is that I see your husband tomorrow." Clinton scanned the article and asked, "Swiss banks, do you think you can do anything about them?" Bronfman looked...
Bronfman told the Swiss he had not come to Bern to talk about money; he had come to talk about process. He wanted to work with the Swiss on a new survey of exactly how many Jewish accounts had existed and how the money left could be returned to rightful owners. Finally the two sides agreed to set up an audit, then discuss a final resolution. In the meantime, the process would be kept quiet...
...bankers broke the confidentiality agreement and publicized a long, detailed Swiss view of the problem. Immediately afterward, the World Jewish Congress issued a statement debunking the Swiss declaration. "I was furious," says Bronfman. "I had just been talking to 500 Jews in Jerusalem who asked me what was going on. I said I couldn't tell them anything because we had agreed with the Swiss not to have any publicity. Then their statement came out. I think it was written out of anger and bad judgment on their part. I stopped trusting them...
...next afternoon, Bronfman met President Clinton in the White House. After the Jewish leader had described the Swiss bank issue, Clinton looked pensive. Then he said, "Edgar, if it is necessary, I will work with Senator D'Amato on legislation on this matter." Moving fast, the President ordered Secretary Eizenstat to investigate the U.S. archives. With the ammunition Singer and D'Amato had dug out of the Safehaven trove, emotional Senate hearings in April and again last October matched testimony from Holocaust survivors with hard evidence of Swiss service to the Reich...
...Swiss banks mounted a weak defense. In May they agreed to set up a commission to examine Jewish accounts, headed by American banker Volcker, then said the investigation would take five years. "Holocaust survivors can't wait five years," snapped D'Amato. By early February, New York lawmakers proposed kicking Swiss banks out of the state if they failed to open their banks to local auditors searching for Jewish accounts. New York's Governor warned that Swiss banks could lose their operating licenses, and the state comptroller halted overnight deposits in Swiss banks. New York's city council threatened...