Word: zaccaro
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...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...
...note: "Has anyone told you that you are cute when you're mad?" Ferraro's reply: "Vice Presidents are not cute.") The couple declared a net worth of $3.78 million, nearly all of it in real estate. They did not release copies of the IRS forms that Zaccaro files in connection with his businesses. Only those documents, experts say, would depict the full scope of his holdings and financial habits...
...figure. Mondale edged close to a complaint about the intense public focus last week. "It may have occurred in the past," he said, "that when a man ran for office, they dragged the wife before the public and went through their records and their businesses the they have Mr. Zaccaro. It may have occurred, but I cannot remember when...