Word: scandal
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Dates: during 1980-1989
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Among the witnesses at congressional hearings on the Iran-contra scandal, former National Security Adviser John Poindexter was the only one "who didn't hang Oliver North out to dry." So says North, who last week sought to convince Federal Judge Harold Greene that he should not be forced to testify at Poindexter's upcoming trial. North claimed that his memories of the secret arms sale to Iran had become so intertwined with the account Poindexter gave Congress that he could no longer distinguish between them. The implication was that he could not give evidence against Poindexter without violating...
...result, the agency has a bad case of bureaucratic burnout. Approval of new drugs requires mountains of corporate filings, and delays in processing applications now run well over two years. That has led to more scandal: this summer investigators discovered that a few generic-drug developers had bribed underpaid FDA employees to speed up the agency's responses to the paperwork for their products. Three FDA reviewers have already pleaded guilty, and more prosecutions are expected. "This past year has been one of the most difficult in FDA's history," said Commissioner Frank Young last week...
They apparently are, since many small countries have successfully attracted banking business by creating discreet, tax-free havens. In Luxembourg total bank deposits have grown from $40 billion in 1984 to more than $100 billion last year. In the wake of a drug-money scandal involving the Florida operations of Luxembourg-based Bank of Credit and Commerce International, the country has tried to burnish its public image by declaring money laundering a criminal offense, even while it has fortified its bank-secrecy rules...
There has been one scandal that adds up to major marks. The Politburo's once powerful economic czar, Guntar Mittag, and Alexander Schalck-Golodkowski, a shadowy financial dealer and former state secretary for foreign trade, are suspected of helping divert to Swiss bank accounts tens of millions of dollars' worth of hard currency. The proceeds came from the illegal sale of arms, artworks and other goods. The affair has become known as the Ko-Ko scandal, after the office of Kommerzielle Koordination, through which the funds were funneled. Last week Schalck-Golodkowski surfaced in West Berlin, offering to return some...
After more than two troubled years as the Government's top savings and loan regulator, M. Danny Wall fell victim to the nation's spreading S&L scandal. The clamor for his ouster mounted last month after lower-ranking bank examiners told Congress that Wall had unduly delayed for 21 months a Government takeover of high-flying financier Charles Keating's Lincoln Savings & Loan Association, whose collapse could cost taxpayers $2.5 billion. Last week Wall finally bowed to the pressure and resigned as director of the Office of Thrift Supervision. He had been victimized, Wall complained, by "simplistic efforts...