Word: kreuger
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Dates: during 1950-1959
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Mask of Youth. Dulles went back to Sullivan & Cromwell, began a brilliant advance through major international assignments: he was counsel for a group of U.S. bondholders in the collapse of the Kreuger & Toll Swedish match trust, handled legal work on the $125 million J. P. Morgan & Co. loan to defeated Germany to help pay reparations. At 38 he became Sullivan & Cromwell's directing partner. It was then, according to one friend, that "young Foster adopted that dour expression, partly out of respect for the old fossils of 50 or 60 with whom he had to deal and partly...
...evening, except for certain beautiful erotic-comic passages, are harder to pin-point. The play is based on a group of Finnish stories, and it manages to achieve a vaguely Finnish atmosphere: bracing and sparse. The series of unpretentious, easily-changeable settings (designed by Robert Skinner and Lorna Kreuger) have a good deal to do with this; the backdrops for successive scenes are frankly mounted on a large picture frame, and the effect is never more Brechtian than when substantial sections look as if they were made out of old packing-crates. The folkish songs composed (or, sometimes, borrowed...
This transfer of funds to Kreuger, which eventually brought him $144 million, enabled him to go into his criminal corporate juggling act. His fertile mind spawned some 400 subsidiary holding companies, many of them mere names. He used their paper assets to establish his credit in borrowing more money for his loans to European countries; 15 nations received a staggering $400 million. He duly received his match monopolies in return, and soon he was making two out of every three matches in the world...
...Wall Street crash of '29 wrote an invisible "X" across Kreuger's name. Being an uncommon crook, Kreuger did not crumble on Black Thursday. Indeed, he never defaulted on a dividend; but he was in the trap of paying dividends out of capital. He gambled millions in the market himself, and lost. Outwardly calm but inwardly frantic, he became the master forger of the age when, in 1931. in the inner fastnesses of his regal headquarters at the Match Palace in Stockholm, he forged with his own hand $143 million in Italian government bonds. By now, Kreuger...
...Ivar Kreuger was both idol and symbol-not, as most men then thought, a Paul Bunyan of finance, but a gross glandular case of surpassing greed. Today, only one tiny match flare from Kreuger's mighty kingdom remains on the financial pages of U.S. newspapers. In mingled hope and irony, Kreuger & Toll 5% debenture bonds, with a $1,000 face value, sell on the N.Y. Stock Exchange for about $40. Before the bond's name appears the tiny letter "q," signifying "in bankruptcy...