Word: traders
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...torn between his mother and father-with considerable anger and resentment toward both. Johnson's mother was a genteel woman who read Milton and Shakespeare to the young L.B.J. and forced him to take ballet and violin lessons. She saw her husband, a lusty small-time farmer, trader and politician, as a limited, vulgar man, and turned her affection to the young Lyndon in what Kearns calls "an emotional overfeeding that led him to grow up thinking the whole world should accommodate itself to him." But when Lyndon was 15, according to Kearns, Rebekah Johnson turned off the affection...
Meanwhile, the branch manager and money trader, both Swiss, have been suspended and could face criminal charges. Lloyds officials uncovered the losses only after a chance phone call from another banker, curious about the heavy volume of currency trading being done by the small Lugano branch. It appears that the branch officials were seeking to turn a profit-whether for themselves or the bank is not clear-by speculating in Deutsche Mark and dollars without reporting their trades on the books. Apparently, after losing on some initial misguided trades, they wagered more and more of the bank's money...
Moneymen fear that more failures could be in the offing. Says one banker: "In a typical day, 1,000 slips of paper might change hands in a foreign exchange department. If a trader wants to hide something, there is little...
...easy to live with. Gerald Ford is Middle America. His roots reach deeply, tenaciously into the thrifty, hard-toiling community of Grand Rapids?though he was not in fact born there. His birthplace was Omaha, where his mother Dorothy lived with her first husband, Leslie King, a wool trader. Ford was christened Leslie King Jr. Two years later, the marriage broke up, and mother and child returned to Grand Rapids. In 1916, Dorothy married Gerald R. Ford, a paint salesman, who adopted young Leslie and gave the boy his name?as well as his penchant for hard work, athletics...
...decrease chances that a fast shuffle of oil dollars from one currency into another would provoke international monetary chaos, if the investments are not short-term. Crucial details, including how much the Saudis would invest and at what interest rates, remain to be worked out. But Old Bond Trader Simon was confident that as much as $5 billion to $10 billion might be involved. "I had no trouble selling them," he said. "They were already agreed in principle...