Word: zaccaro
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Dates: during 1980-1989
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...very private person, and he's not the candidate?I am." Before finally agreeing to release his tax returns, "we got through a whole discussion, and ... his reaction then was, 'Gerry, I don't want to hurt you, you know?here they are.' " Still, when a defense of Zaccaro would have been foolish, she demurred. After learning early this year that he had, in 1979, bought back her half-share in the Manhattan building, she said, " 'Why did you do it?'... He said, 'It was legal.' And I said, 'Sure it was, but it doesn't look...
When it came to explanations of the financial disclosure exemption she has claimed as a House member, however, Ferraro was earnest but unpersuasive. Her tax returns report income from Zaccaro's business, and he pays the property taxes on all four of their homes. Yet to claim an exemption, a House member must get no benefit from a spouse's wealth, nor even have "the possibility of an inheritance from the interest." Ferraro's basic argument is that because she and Zaccaro have separate incomes, his wealth and its sources are irrelevant to her congressional performance...
...Zaccaro's week did not finish so buoyantly. In a New York City courtroom on Thursday, he was obliged to explain his questionable performance as the paid, court-appointed conservator of an elderly woman's assets: in the past year Zaccaro borrowed $175,000 from her funds to use in his business. He reported the loans to a representative of the court, and when notified that he had acted improperly, paid the money back promptly with 12% interest. He did nothing illegal, but the judge could remove him as conservator. Said a New York banker: "He's an honest...
...Zaccaro's troubles are certainly not all his doing. He is an Italian American who owns real estate in New York's Little Italy; questions about any possible underworld ties are constantly asked, as if such a connection were inevitable. Even the most tenuous bits of information made huge, unfair headlines: a pornography distributor is a tenant in one Zaccaro building; a reputed mobster rents an apartment in a building Zaccaro inherited from his father 13 years ago and immediately sold; an imprisoned swindler once owned a building that Zaccaro managed. TIME learned that U.S. Attorney Rudolph Giuliani asked Zaccaro...
...fascination with Zaccaro's finances began two weeks ago, when Ferraro announced that his tax returns would not be made public, as she had promised earlier. "The hesitance to release her husband's tax returns," wrote George F. Will in his syndicated column, "may mean he has not paid much in taxes." Indeed that had been the common suspicion. On an ABC news program, This Week with David Brinkley, Ferraro said her husband had relented because "people were jumping to the most outrageous conclusions on a lot of things." Columnist Will, an interviewer on the program, asked if the disclosures...