face. As myoid boss when I joined the discout market - who had worked as a "bond-salesman" on Wall Street during the "Great Crash" of 1929, through the Credit Anstalt crash, and served in British military intelligence during the Second World War - always used to say: "Remember! The telephone is not a secure instrument. " During the 1960s, foreign banks had flooded into London in pursuit of Eurodollar deposits. Arabs were spending their new found oil wealth in West End casinos. Ex­ change Control regulations were tight. In 1971, when our story begins, new "banks" on the fringe took advantage of the property boom, fuelled by Tory Chancellor Barber's first Budget. The discount houses (whose functions and special privileges at the Bank were soon arcane) became active traders in US dollar and foreign currency paper, and took stakes in the new money brokers (or "barrow boys," as the snobs called them, since the sharpest brokers were mainly Cockney Eastenders). While the "gentleman's club" was quickly being replaced by the fast growing "interbank swaps" market (now LIFFE), the discount houses had found a new role to pla- opening representative offices overseas (Gillett Brothers, where I was then chairman, in Southern Africa, UAE, Australia and Singapore, with brokering subsidiaries in Europe, Far East, and North America) - gathering market intelligence around the world, as the invisible "eyes and ears" of the Bank of England.
Les mer
The Bank of Credit and Commerce International (BCCI), which perpetrated the "biggest bank fraud in history", was founded by Agha Hassan Abedi and initially registered in Luxembourg in 1972. This book includes essays dealing with certain aspects of BCCI's misbehaviour and various odd structures, as well as a document from Luxembourg's Civil Court.
Les mer
In Memoriam David Whitby. Introduction - Dedicated to David Whitby; A. Block. The Tennessee Bankers; D. Whitby. Conspiracy and cover-up; D. Whitby. Price Waterhouse: Summons Before the Civil Court, Luxembourg. Overseeing and overlooking: the US federal authorities' response to money laundering and other misconduct at BCCI; N. Passas, R.B. Groskin.
Les mer

Produktdetaljer

ISBN
9780792370628
Publisert
2001-10-31
Utgiver
Vendor
Springer
Vekt
970 gr
Høyde
235 mm
Bredde
155 mm
Aldersnivå
Research, UP, P, 05, 06
Språk
Product language
Engelsk
Format
Product format
Innbundet

Redaktør