Word: volcker
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...appears that the investigation into unclaimed bank accounts of Holocaust victims may cost the Swiss banking establishment a billion-plus francs (say $800 million) -- perhaps more than the total value of the original deposits. The international investigating commission under Paul Volcker, former chief of the Fed, says it needs until June 1999 to finish its work. The Volcker Commission has 500 chartered accountants combing through tons of archives at 63 banks, and those sleuths don?t come cheap. The bankers are livid about the expense and time; some of the smaller banks are threatening to throw out the commission...
...enjoyed that federal backing while throwing the money at Long Term Capital that enabled it to pursue its exotic--and, for three years, very profitable--speculations. "Why should the weight of the Federal Government be brought to bear to help out a private investor?" demanded former Fed Chairman Paul Volcker. "It's not a bank...
...Tyler Moore, Dick Morris, Toni Morrison, Ralph Nader, Mike Nichols, Edward James Olmos, Jane Pauley, Dan Rather, Donna Rice, Leni Riefenstahl, Molly Ringwald, Mickey Rooney, Mort Sahl, Diane Sawyer, Claudia Schiffer, Arthur Schlesinger Jr., Sargent Shriver, Steven Spielberg, Kerri Strug, Cheryl Tiegs, Laurence Tisch, Donald Trump, Peter Ueberroth, Paul Volcker, Andrew Weil, Raquel Welch and William Westmoreland...
...heady world of international business, so many interests seem to overlap. PAUL VOLCKER, a former chairman of the Federal Reserve who serves on a variety of high-powered boards, is a paid director of Nestle, Switzerland's largest company. Nothing odd there, except that other Nestle directors include the bosses of Switzerland's three largest banks, and these are among the banks Volcker is charged with investigating as head of a committee of "eminent persons" looking into Switzerland's role during World War II. Why are questions about Volcker's Nestle position being raised now? Perhaps because in a recent...
...with long-lost money. The lists are an unprecedented step for the famously discreet Swiss banks, and certainly a nifty PR move, coinciding today with the Swiss Bankers Association's announcement that it had found $15 million more that may have belonged to Holocaust victims. Ex-Fed chairman Paul Volcker, who heads an international body charged with tracking missing Holocaust assets, says a new list to be released in October will name not only foreign depositors but Swiss nationals who may have acted as agents for Holocaust victims or even Nazis. "I think there could be a large amount...