Word: trusts
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Dates: during 1950-1959
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...campaign progressed, Candidate Eisenhower depended more and more on the counsels of Manager Adams. Ike's trust was especially earned in the episode of Dick Nixon's expense account, when many of the Eisenhower staff members panicked and began screaming for Nixon's head. Adams' advice was simple: "Sit tight and wait." Then he helped set up Nixon's effective television speech...
...famous Von Stauffenberg conspiracy to kill Hitler. When the plot failed, John's brother was shot; John himself fled to England. Many Germans regarded John as a traitor for joining the British when Germany was fighting for her life. The U.S. and West German intelligence agencies did not trust him. Largely at British insistence, he got the secret-service...
...biggest insurance companies, U.S. (for "United Services") Trust & Guaranty, was padlocked by the courts, and 128,000 investors and policy holders, mostly in low-income groups, were faced with a loss of more than $5,000,000. Said Texas Insurance Commission Chairman Garland F. Smith: "I don't know any bankruptcy in the history of Texas that will affect more people. It's hard to sleep, thinking about those people who lost their money...
...victims thought Smith and the commission had been dozing for months while the company's troubles piled up. It was founded by Albert Benton Shoemake, 59, a Waco insurance promoter, who had gone broke with another insurance company in 1938. In 1945 he founded U.S. Trust & Guaranty under an old Texas law that permitted him to charter an insurance company to handle some banking too, thereby duck regular bank-examiners' inspections. His insurance charter should have been issued only after he filed articles of incorporation with the secretary of state. But U.S. Trust & Guaranty never took...
Instead, charged the commission, Shoemake set up the Arkansas Fire and Marine Insurance Co., fed it some of U.S. Trust & Guaranty's assets. Last week, as the Texas attorney general threw U.S. Trust & Guaranty into temporary receivership, he charged Shoemake with "manipulating accounts to create a false appearance of solvency," and turned up with a shocking fact: while the State Insurance Commission waited for Shoemake to tidy up his business, more than $4,000,000 had disappeared, and the company...