Word: traders
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Dates: during 1980-1989
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...savior in whom this earnest vision burns is a prosperous Jewish horse trader named Balaban. He buys an old mountaintop hotel, formerly a monastery, near Vienna and issues a prospectus promising horseback riding, swimming, and the painless eradication of embarrassing gestures and ugly accents. And soon the place is filled with aging Jews of both sexes who have become burdens to their assimilated children...
Glucksman then set about recasting Lehman Brothers in his own image. He appointed as president another trader, Robert Rubin. The two handed out higher year-end bonuses to other traders than to investment bankers. When partners began pulling out and trading profits suddenly shrank, the board voted to put the firm up for sale...
Hart has been able to tap a vein of idealism that is a permanent feature of the American political landscape but accessible only to an occasional candidate. "I haven't felt as excited about a campaign since Kennedy," says James H. Kean, 42, an export trader and retired Marine colonel from Mercer Island, Wash. "The neat thing about Hart's campaign is that it's mostly volunteers. It's that corny American democracy...
...Sentinel Financial Instruments, with perpetrating the largest criminal tax fraud in U.S. history. The defendants were alleged to have supplied investors with more than $130 million in bogus income tax deductions for the years 1979 and 1980. The previous record case: last September's indictment of Oil Trader Marc Rich and two of his associates for concealing more than $100 million in taxable income...
Charged were Michael Senft, 44, the firms' general partner, and Walter Orchard, 35, who had served both companies as chief tax trader. According to the 63-count indictment, Senft, Orchard and three other defendants provided their unwitting customers with tax write-offs without actually buying or selling any Government securities. Instead, the grand jury charged, the firms simply falsified documents to make it look as if trading had occurred, and then presented the phony records to their clients...