Word: bankers
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Dates: during 1960-1960
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...strenuous effort to draft Manhattan Banker Robert Lovett, a Republican who held down half a dozen key offices with distinction in the Roosevelt and Truman Administrations, failed because of his poor health, but Lovett was a prime mover in recommending Rusk and McNamara. Bobby Kennedy was the most reluctant candidate, fearing the public and political wrath over a brother act in the new Administration-but he was finally persuaded, after Jack conferred with him in an upstairs bedroom (to escape the milling crowds belowstairs) for 20 minutes, and again, after another wave of misgivings, at breakfast 36 hours later...
McNamara was suggested for Defense by Manhattan Banker Robert Lovett, himself a onetime Secretary of Defense (1951-53), who had first been offered the job in the Kennedy Administration. The Pentagon, highly fond of retiring Secretary Thomas Gates, sighed at the thought of educating the fourth Secretary in eight years, and some recalled the memory of the lackluster regime (1953-57) of another automan, General Motors ex-President "Engine Charlie" Wilson. (In an echo of Wilson's oft-quoted remark, a newsman asked McNamara: "Do you believe that what's good for Ford is good for the country...
...Manhattan investment banker (Dillon, Read & Co.), Dillon was born in Geneva while his parents were on a Grand Tour, went to Groton and Harvard (magna cum laude, '31). After graduation he bought a seat on the New York Stock Exchange for $185,000 and joined the family firm. He went into the Navy as an ensign in 1942, served with the Seventh Fleet, was discharged as a lieutenant commander. Married in 1931, he has two daughters, maintains homes in Washington, New York, New Jersey, Maine and France...
Nevertheless, the Quai d'Orsay was skeptical of a 43-year-old investment banker who was innocent of diplomatic experience. France was in a state of upheaval: Indo-China was falling, Algeria was on fire, and Suez was threatening. Dillon handled himself with unspectacular competence, won French government gratitude at a parlous moment by proclaiming U.S. support of France's "liberal" aims in Algeria...
Four years ago the still-outlawed Apristas made another deal with Banker Prado, and one that looked as if it would stick. In return for election support, Prado legalized the party. In another display of fair-mindedness, Prado appointed the loudest critic of his inflationary policies, Newspaper Publisher Pedro Beltrán, as his Premier. The two have since given Peru constitutional government and, through tightfisted austerity, have braked inflation...