Word: transferals
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...been a violation of international law since 1925, but stocking national arsenals with it has not. The 39-nation Conference on Disarmament in Geneva filled some loopholes last week when it finished work, after 24 years of negotiation, on a new treaty. It outlaws production, stockpiling and transfer of chemical weapons, and will take effect after 65 nations have signed it. Some states will refuse to sign; others, like Russia, will hesitate because scrapping chemical weapons will be so expensive. For the U.S., which will sign, the price tag will be more than $6 billion...
This cabal is crashed by the narrator, Richard Papen, a penniless transfer student who had taken some Greek. He is as close as the book comes to an objective center, but the device gets shaky because Richard is a facile, silly liar, boasting about an imaginary family oil well. He will do anything to be accepted by these sophisticates. Anything...
...write off $350 million -- including the allegedly stolen funds and $340 million in overstated profits. The privately held concern has dismissed auditor Coopers & Lybrand, which it blamed for failing to spot the fraud. The accounting firm says Phar-Mor's move was "apparently designed to posture, bluster and transfer blame...
More significantly, if you want to improve the sorry state of fin-de-siecle America, you can't just play around with the income bell curve. Even if tax-and-transfer policies actually effected a substantial reallocation of income (they don't) Kaus doubts that any social benefits would result...
...about B.C.C.I.'s criminal activities. Dr. Norman Bailey, a former member of the staff of the National Security Council, has told TIME that in 1982, the NSC began receiving a stream of intelligence reports detailing the bank's arms trafficking, drug involvement, support of terrorists and role in the transfer of U.S. technological secrets to countries such as Pakistan and the Soviet Union...