European Stars And Stripes (Newspaper) - February 1, 1987, Darmstadt, Hesse Page 10 the stars and stripes sunday february 1.1987 columns . Rosenthal Wall a freezers fear backlash from Public some of the Best people on Wall Street Are worried deeply about a couple of things and neither has to do will he Price of Slock. They Are worried about the devious dealings in the financial Market Legal and illegal. And they arc worried even More about the Day when the Public gets really fed up. The idea has come across to Wall Street Ai least to some of the Bankers brokers analysis and economists who make i hair living there that an enormous Gap has opened and is getting larger. It is a most important Gap a difference of ethical standards Between what americans have been taught at Home and in school is sup posed to be the right thing to do and what Wall Street is doing every Day. Some of what a number of Wall Street cars have been doing is Plain illegal and there have been indictments. Inside Trad ing for instance taking advantage of your position in an investment House or a brokerage or a newspaper to find out what is going to happen and then Selling that information to somebody else or using in yourself to make secret buys and sales. It can get you Rich. It can also get you a num Ber in b Federal prison. There Are going to be quite a Lew More names made Public in the next few weeks and month that Are going to become numbers before Long. Wall Street is even More worried about some of the things that arc Legal but Are beginning to smell to the Ameri can Public. Such As managers of companies afraid of being taken Over buying off the raiders by paying them a lot More for their Stock than you can get for yours. In is called Green Mai but in can also be called taking Money out of the pockets of the Ordinary stockholder it is Legal but it should t be. Company officers voting them selves Golden parachutes special pay ments and bonuses in Case they get taken Over. That is a kind of insurance policy that is not for Sale but if you arc a stockholder you sure Are paying for in. There Are All kinds of things company managers do to build a Wall of Money around their jobs. And there Are Al kinds of things the takeover artists do that Are Legal bul should t be. Takeovers themselves Are not immoral because sometimes the management is so bad that to takeovers save jobs and Stock Holder investment. But there Are take overs that arc financed with almost no investment on the part of the Raider takeovers that Are backed by Bonds of High risk junk Bonds that Are often Sim Socle huge prints away. There Are Lake oven that make thousands lose their paychecks ruin industries and make this country even less competitive to Tough foreign Competition. Walt Street is running scared and not simply the people who i now they Art in some swindler s secret books or tape recorder and can expect a number of the Crown. Men and women who have de voted their lives to making Money but making in honorable Are running scared too. They realize thai if the Public turns in Wrath the result might be a Batch of regulations and Laws that will Hurt hem All the swindlers and the decent alike Felix Rohatyn an investment banker has gone Public with his concern testify ing before a Senate committee about the cancer called greed that is threatening the financial Industry. He talks of his fear of a vicious backlash. Fear of a particular backlash led to private meetings among some top jewish figures in the Industry Bankers chief executive officers Heads of brokerages. The Central topic was the fact that so Many of the men caught cheating or about to be indicted were jewish. There was concern that the backlash might carry a decided tinge of anti semitism. The anti jewish arbitrageurs jokes Are Alt around the Street. Anybody with an ounce of sensitivity knows that anti semites do not need excuses to hate jews. There is no need for jews on Wall Street to feel called upon to explain the number of jews involved any More than there is for the members of any race or religion to try temp join their evildoer. The religion of the Crooks and near Crooks is not the Issue. The Issue is that Wai Street every Day practices what the people believe is just Plain wrong. That is dangerous to Wall Street and to the rest of us. Nat Yah tuft Al n0w1s4ivkm William Buckley ran Confra hubbub mystifies some europeans there Are grounds aplenty far deliberating on the jaded Ness of old Europe and she is always tempt ing us to do so with the silliness that abounds the Only comforting thing about Sweden s Popula lion control policies Malcolm Muggeridge observed a year or two ago is that i calculate that by the year 2010 there will be no swedes Call it the scandinavian problem which in t All that far removed from a. Kind of pacifist isolation based on the calculation that if Sweden Norway and Denmark engage in progressive aloofness from nato the soviet Union will somehow forget them As Switz Erland succeeds in being forgotten when the Lime comes to Lake Over Europe. And of course not Only Scandinavia far from in. Germany a its Green party almost doubled in strength in the last election. And the major opposition party in great Britain wants nothing less than unilateral nuclear disarmament preferably combined Wilh a . Guarantee to save England yet again. There Are americans and they Are growing in number who think we should ration ourselves to saving Europe Only twice per Century but for All these aberrations there is an old world Savoir Faire utterly refreshing to inc ear. One cosmopolitan woman american bom greek wed Swiss dwelling was talking about the state of the Union address and the commentary in the International Herald Tribune about the scant attention the presi Dent had Given to the iranian affair. It is absolutely mystifying to us Why so much Atten Tion was Given to the Mailer in the first place she said. But then of course in Europe we have a very Long history of chiefs of slate dealing Wilh other chiefs of stale directly and indirectly. We consider it their Job to do this. If overtures do not succeed our reaction is they Seldom do. Bul occasionally they do and it is the business of slate leaders to keep but what about the scandal aspect of Iran Gate How docs that sit in Europe there Are two aspects 10 the problem. One of them is that the socialist fraternity despises Reagan and was desperately anxious to find Means with which to fuel their dislike they piggybacked on american resent ment. Especially they liked inc poll that revealed that the majority of the american people thought thai Ron Ald Reagan was lying to them. They liked that because it served the purpose of sort of deflowering the Reagan myth the Eagle scout who cannot Tell a lie. They liked that a lot. But she continued subs Lanlivery in was for us. A laugh. So arrangements Are made to Send Money from one Federal Bank account to another in Pursuit of a National purpose no one in the administration even accused of stealing any of the Money is that kind of thing going to Shock a country the reference was 10 France that never bothered to find oui the True Story of whether emperor Bokassa had attempted to influence Giscard d Esling s policies by giving him Diamond necklaces for his wife Well then what about the hostage question Here she said europeans Are genuinely puzzled. Not so much that an american president would say one thing and surreptitiously do another to Aid an Ameri can held hostage we do that kind of thing All the Lime bul that the president should insist that there was no relation Between slate policy and the release of inc hostages what particularly stuck in the Craw Here was or. Reagan s position that the release of the american reporter Dan loft was unrelated to the re lease of the soviet spy Zakharov. Look Daniloff is released from Moscow and within 24 hours Zakharov is released from new one reminds her that Reagan insisted the two trans actions Only coincide lately came together that he had told friends that it was All As simple As that he Hod flatly refused to Deal Wilh the soviet Union concerning Zakharov Summit meetings or anything eke pending the release of Daniloff. To which Ronald Reagan is trained in the theater and he has to know that what he Calls a coincidence he cannot begin to expect others to Call such a thing. They View the existential reality Aile Monde likes to put it the United state wants Daniloff freed the soviet Union wants Zakharov freed both things come 10 fruition and at the same time. Even though it is technically possible that the two events were coincidentally simultaneous even Asil might actually have been a coincidence thai the Lover was distorting with the lady at Home exactly when the cuckold was scheduled to Clurn As a political Mailer in in l accepted As a coincidence. Ron Ald Reagan lost on that one. But we continue to View hint As the strongest Friend of Europe since Truman. He has a Large Reservoir of Good wiil Here in the anti communist Community which still controls
