Word: trading
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Dates: during 1990-1999
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...they've only owned up to a possible $32 million in unclaimed assets that "could have belonged to European Jews or other non-Swiss residents." But the big bankers have been severely embarrassed by recent revelations that the Nazis stashed concentration camp gold in secret Swiss accounts, and that trade with this nominally neutral nation helped prop up Germany's war effort. Will $600 million make the bad publicity go away? Not if the victims of that war effort have anything to do with...
...York City's autocratic numero uno Rudy Giuliani is pressing ahead with plans to build a mayoral fortress in the World Trade Center, a bulletproof bunker with a hotline to the White House. But the project isn't getting the respect a real grown-up $15 million command-and-control center deserves. Lefty lawyer and radio commentator Ron Kuby has dubbed the facility the "Nut Shell." The New York Daily News is comparing it to Saddam Hussein's bunker, and other detractors say it will cost tens of millions of dollars more than Giuliani projects. Yet the mayor who squeezed...
Asia's crisis is hobbling the U.S. economy, but it's a slow-acting poison. The U.S. today announced a record $14.5 billion trade deficit for April -- but by now the situation is probably even worse. "Unless Asia recovers and starts buying U.S. exports again, U.S. growth for the rest of the year will probably be wiped out, with serious repercussions for our economy," says TIME reporter Bernard Baumohl. Even more serious than the trade deficit is the $47.2 billion all-time high in the current account deficit -- the indicator of the amount America has to borrow from overseas. Baumohl...
...recession has set off alarm bells in Washington," says TIME correspondent Bruce Van Voorst. "If the yen continues to fall, it will put pressure on China and other Asian economies to devalue their currencies to remain competitive, and that would have a disastrous effect on the already huge U.S. trade deficit...
...advocate using a nom de hack as an alternative to the legislative approach urged by the Federal Trade Commission last week. Privacy Online: A Report to Congress does an exhaustive job of detailing the sneaky practices of many websites. The FTC found, for instance, that 92% of the 1,400 sites it randomly surveyed collected personal information about their users; only 14% ever disclosed that practice...