Word: wallenbergs
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...ROUND the world, the chances for investment abound (see Capital Opportunities). But too often there is no capital to invest. As President Marcus Wallenberg of Stockholm's Enskilda Bank pointed out to the conference delegates, the demands for investment funds have far outrun the savings from which the capital must come...
...Banker Wallenberg, one of the chief reasons undeveloped countries today cannot find the foreign capital once readily supplied is that the savings in the industrialized countries are too low for the need. With money short all over, they have had to tighten up on credit and interest rates to check inflation, bringing on a survival-of-the-fittest competition among borrowers. Therefore, "projects with relatively low earning power...
Furthermore, said Wallenberg, "present rapid technical development has created new domestic investment opportunities on an increasing scale. This by itself tends to keep more money than usual at home in these industrial areas. At the same time, the normal outflow of capital to underdeveloped countries is discouraged by political uncertainties, threats of nationalization and transfer-of-earnings difficulties−conditions that are more characteristic of underdeveloped countries than of advanced...
After that, while the Swedish Foreign Office kept up a steady barrage of protests, and Swedish public opinion angrily demanded Wallenberg's release. Moscow said nothing. Last week the Soviets finally broke the silence. Raoul Wallenberg, Soviet officials told the Swedish government, died of a heart attack in Lubianka prison on July 17, 1947, nearly ten years ago. His arrest and detention, they said, were undoubtedly the result of "the criminal activities" of then State Security Chief Viktor Abakumov, who was executed in 1954 for "crimes against Soviet laws" as an accomplice of his boss, Lavrenty Beria. There...
Best guess as to why the Russians really had imprisoned Wallenberg in the first place was that he had worked out an elaborate plan for the restoration of Jewish property seized by the Germans, and the Russians wanted to seize it for themselves. What had actually caused his death could only be inferred from the fact that the Soviets blamed all on that old scapegoat. Security Chief Abakumov, without benefit of postmortem...