A FULL SERVICE BANK

HOW B.C.C.I. STOLE BILLIONS AROUND THE WORLD

The first book on the Bank of Credit and Commerce International as the depository institution of choice for drug- dealers, gun-runners, terrorists, and other lawbreakers. Despite a comparatively narrow focus, the painstakingly documented text sets a high standard for the many entries sure to follow. Adams (a former Forbes editor) and Frantz (coauthor, Selling Out, 1989, etc.) devote the bulk of their report to a successful undercover investigation mounted by the US Customs Service in southern Florida. The sting operation broke up a money-laundering ring and produced hard evidence of BCCI's illicit activities long before government agencies in seven countries closed the bank's doors last summer. The authors nonetheless make a good job of recounting how the Arab-owned, Pakistani-run bank (founded in 1972) was organized to evade oversight by any one nation's regulatory authorities. Achievement of this objective, Adams and Frantz show, gave BCCI stewards more than enough rope to hang themselves as they resorted to Ponzi schemes, pitching shady accounts with secret ledgers, and other crimes to keep pace with the demands of investors or their cronies for credit and cash. BCCI apparently did a fair amount of legitimate business as well, but audits commissioned by the Bank of England finally exposed the extent of its deficits and misconduct, making a shutdown inevitable. The authors leave little doubt that BCCI was able to suborn or use pillars of the financial and political community in its zeal to expand, typically on the basis of undeclared equity interests. The ranks of the tarnished encompass the likes of Jimmy Carter, Clark Clifford, and Bert Lance. This sorry tale is not without heroes, though, including Sidney Bailey (Virginia's commissioner of financial institutions), Sen. John Kerry of Massachusetts, and New York City's D.A., Robert Morgenthau. The collapse of BCCI's house of marked cards seems certain to attract further editorial attention. Meanwhile, Adams and Frantz offer a primer that promises to measure up against further coverage.

Pub Date: March 15, 1992

ISBN: 0-671-72911-X

Page Count: 363

Publisher: Pocket

Review Posted Online: May 20, 2010

Kirkus Reviews Issue: Feb. 1, 1992

Did you like this book?

No Comments Yet

Stricter than, say, Bergen Evans or W3 ("disinterested" means impartial — period), Strunk is in the last analysis...

THE ELEMENTS OF STYLE

50TH ANNIVERSARY EDITION

Privately published by Strunk of Cornell in 1918 and revised by his student E. B. White in 1959, that "little book" is back again with more White updatings.

Stricter than, say, Bergen Evans or W3 ("disinterested" means impartial — period), Strunk is in the last analysis (whoops — "A bankrupt expression") a unique guide (which means "without like or equal").

Pub Date: May 15, 1972

ISBN: 0205632645

Page Count: 105

Publisher: Macmillan

Review Posted Online: Oct. 28, 2011

Kirkus Reviews Issue: May 1, 1972

Did you like this book?

IN MY PLACE

From the national correspondent for PBS's MacNeil-Lehrer Newshour: a moving memoir of her youth in the Deep South and her role in desegregating the Univ. of Georgia. The eldest daughter of an army chaplain, Hunter-Gault was born in what she calls the ``first of many places that I would call `my place' ''—the small village of Due West, tucked away in a remote little corner of South Carolina. While her father served in Korea, Hunter-Gault and her mother moved first to Covington, Georgia, and then to Atlanta. In ``L.A.'' (lovely Atlanta), surrounded by her loving family and a close-knit black community, the author enjoyed a happy childhood participating in activities at church and at school, where her intellectual and leadership abilities soon were noticed by both faculty and peers. In high school, Hunter-Gault found herself studying the ``comic-strip character Brenda Starr as I might have studied a journalism textbook, had there been one.'' Determined to be a journalist, she applied to several colleges—all outside of Georgia, for ``to discourage the possibility that a black student would even think of applying to one of those white schools, the state provided money for black students'' to study out of state. Accepted at Michigan's Wayne State, the author was encouraged by local civil-rights leaders to apply, along with another classmate, to the Univ. of Georgia as well. Her application became a test of changing racial attitudes, as well as of the growing strength of the civil-rights movement in the South, and Gault became a national figure as she braved an onslaught of hostilities and harassment to become the first black woman to attend the university. A remarkably generous, fair-minded account of overcoming some of the biggest, and most intractable, obstacles ever deployed by southern racists. (Photographs—not seen.)

Pub Date: Nov. 1, 1992

ISBN: 0-374-17563-2

Page Count: 192

Publisher: Farrar, Straus and Giroux

Review Posted Online: May 20, 2010

Kirkus Reviews Issue: Sept. 1, 1992

Did you like this book?

No Comments Yet
more