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Word: toed (lookup in dictionary) (lookup stats)
Dates: during 1970-1979
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Usage:

Low gutter language is seldom heard in the world of high finance, but a lot of strong oaths were echoing last week through the paneled offices of private bankers. Fearful that they might be trapped in the crossfire of the U.S.Iranian economic war, many European moneymen were distressed at the...

Author: /time Magazine | Title: Business: Fallout from a Financial War | 12/17/1979 | See Source »

That weapon was being battered last week. In hectic trading, the dollar plunged before recovering slightly. Gold, the traditional shelter in troubled times, rose to a record close of $434 per oz. in London, up $52 in five weeks. Traders worried mostly about the volatility of the Iranian confrontation, and...

Author: /time Magazine | Title: Business: Fallout from a Financial War | 12/17/1979 | See Source »

Many European and U.S. bankers have been at odds since mid-November. It was then that Chase Manhattan and six other large U.S. banks in an eleven-member syndicate used their voting majority to declare a $500 million loan to Iran in default. That raised fears of still further defaults...

Author: /time Magazine | Title: Business: Fallout from a Financial War | 12/17/1979 | See Source »

Pressure is mounting on Chase in Europe to reconsider and reverse the default. One reason: the bank apparently did not tell its European partners that Iran had asked for a transfer of its funds to pay the interest on the loan, but that this payment had been blocked by President...

Author: /time Magazine | Title: Business: Fallout from a Financial War | 12/17/1979 | See Source »

West German bankers have been particularly angry. Morgan Guaranty, one of Chase's U.S. partners in the defaulted $500 million loan, went into a German court and attached Iran's 25% investment in two big German companies, Friedrich Krupp and Deutsche Babcock. Last Tuesday, a day after a...

Author: /time Magazine | Title: Business: Fallout from a Financial War | 12/17/1979 | See Source »

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