Word: chases
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Leading finance men, including former West German Bundesbank President Otmar Emminger, warn of bad trouble looming ahead. Chase Bank Chairman David Rockefeller says with a nautical flair: "What we see ahead are treacherous economic seas and gale-force financial winds, strong enough to capsize even large, well-manned ships." Former British Chancellor of the Exchequer Denis Healey paints a chilling future in which soaring oil prices could all too easily threaten bankruptcy for entire nations, forcing them to default on loans to Western banks. This, he says, "could bring the whole international banking system crashing down...
This oil-debt game is being played out in the arcane and complex world of international finance. There, large multinational banks such as the U.S.'s Chase Manhattan and Citibank, West Germany's Dresdner and Britain's Barclay perform two vital and interrelated functions. Operating largely from London's money center, the big financial institutions have first of all provided a safe and secure place for Croesus-rich oil exporters, particularly Kuwait, the United Arab Emirates and Saudi Arabia, to park their unspent petro-profits, which by now amount to over $90 billion. The security...
...precisely what ABC's Arledge has been promising many CBS and NBC journalists. He has lured 29 on-camera reporters and 20 producer-directors from the other networks. CBS is hardest hit, losing 17 to the Arledge recruiting drive, including Correspondents Hughes Rudd, John Laurence, Barry Serafin and Sylvia Chase, as well as off-camera stars like Richard Kaplan, a talented producer with the Cronkite team. Admits one CBS hand: "We're hemorrhaging...
...second week in a row Paul Widerman drew an unexpected tie. The 14-14 score alone indicates that the Crimson's crack 118-lber didn't wrestle his own match. Springfield's Scott Lewis used the entire mat, forcing Widerman to chase him and at the same time avoiding the Crimson supergrappler's deadly lower leg moves...
...month investigation had cost some $800,000 and involved about 100 agents in an elaborate series of hoaxes and disguises. One of these dressed up in a burnoose and posed as a sheik named Kambir Abdul Rahman, whose millions were said to be "burning holes" in a Chase Manhattan account. Other agents in pinstripe suits served as the sheik's American emissaries, translating his gutteral commands and seeking ways to invest his money in New Jersey gambling casinos, East Coast port facilities and an American titanium mine. Along the way, the phony sheik and his aides sought to protect...