Word: volckerism
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...banks announced they would create a $70 million humanitarian fund for the remaining survivors of the Holocaust and families of victims. Then the Swiss government said it would oversee the fund, but would not commit any public money until its investigation, headed by former U.S. Federal Reserve Chairman Paul Volcker, had been completed...
...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...
...first-name basis with the Asia-Pacific region's political and business leaders, as well as many of those in the U.S., where he co-chairs the U.S.-Hong Kong Economic Cooperation Committee with former U.S. Federal Reserve Board chairman Paul Volcker. More important, his family bridges the chasms separating the communist mainland from capitalist Hong Kong and a defiant Taiwan...
...look at records in Switzerland, the joint U.S.-Swiss commission, headed by former U.S. Federal Reserve chairman Paul Volcker, is hiring several Swiss accounting firms to go into the banks and check their accounts, while preserving the secrecy the Swiss take such pride in. Though the committee's accountants have been pledged the bank's full access, it is doubtful they will come up with much. The investigators will be permitted to look only at dormant accounts, that is, those in which there has been no activity and no communication with the owners. Earlier this year the Swiss Bankers Association...
...trace the "fate of assets which reached Switzerland as a result of National Socialist rule" in Germany. That includes questions of complicity with the Nazis, illicit profits, and illegal gold and currency transactions. Individual claims by the relatives of Jewish victims, however, will be left to the Volcker commission...