House Speaker Newt Gingrich hosted a $1,000-per-person fund-raising luncheon in his suburban Atlanta district last week for Sen. Alfonse M. D'Amato, R-N.Y.
Though Sen. D'Amato's conservative credentials have been questioned this election year, the Georgia Republican assured donors that he supports efforts to eliminate capital gains and real estate taxes and boost national savings and investing rates.
"In order to accomplish these goals, we absolutely must ensure that Al D'Amato remains chairman of the Senate Banking Committee," Rep. Gingrich wrote in a July 23 letter to his backers. "I have had no stronger ally pushing our conservative agenda through the Banking and Finance committees."
Democratic rivals reveled at the chance to link Sen. D'Amato with the archconservative House Speaker. "You can judge Al D'Amato by his friends," Rep. Charles E. Schumer, D-N.Y., told the Albany, N.Y., Times Union. "And with friends like Newt Gingrich, New York doesn't need any enemies."
Federal Reserve Chairman Alan Greenspan uses the Federal Reserve Board Credit Union for his consumer banking needs while his wife, Andrea Mitchell, is a Riggs National Bank customer.
These are just a few of the tidbits in the Fed chairman's 1997 financial disclosure form.
Mr. Greenspan received permission from the Office of Government Ethics to exempt from disclosure most of the wedding gifts the couple received. Still, the Fed chairman-who married the NBC News correspondent in April 1997-was required to reveal gifts valued at more than $250 and those from individuals with whom he has a professional relationship.
The four gifts requiring disclosure are a $300 glass server with silver ladle from Treasury Secretary Robert E. Rubin, a $350 Tiffany bowl from then-Comptroller of the Currency Eugene A. Ludwig, folk art from House Banking Committee Chairman Jim Leach, and a post-wedding party by World Bank President James D. Wolfensohn.
As first reported by The Wall Street Journal, the disclosure form also shows that Mr. Greenspan has moved most of his assets-valued at well over $1 million-to government and corporate bonds, although his wife owns several stocks.
Not that he needs the money, but talk about cashing in.
Mr. Ludwig wrapped up his five-year term as Comptroller of the Currency in April and signed on as a vice chairman of Bankers Trust Corp. The nation's seventh-largest bank is paying Mr. Ludwig-already a multimillionaire from his days at Covington & Burling law firm-more than $3.15 million during his first year.
According to documents the bank filed with the Securities and Exchange Commission last week, Mr. Ludwig received $1 million on his first day, a base salary of $350,000, and at least $1.8 million in bonuses. He also received 10,000 shares of restricted stock and the option to buy 80,000 more shares.
Edwin M. Truman, director of the Fed's division of international finance, is jumping ship after more than 25 years at the central bank. The well-respected economist will become assistant Treasury secretary for international affairs. Timothy F. Geithner, who now holds the post, is expected to be appointed under secretary for international affairs. Both men would play key roles formulating the U.S. response to the Asian and Russian financial crises.
Peter M. Kravitz, former lobbyist for the Independent Bankers Association of America, has been hired by the American Institute of Certified Public Accountants as director of congressional and political affairs.
Mr. Kravitz left the IBAA in December after representing community banks for four years. Previously he was a lobbyist for the U.S. League of Savings Institutions. Mr. Kravitz also has worked as a lawyer in the Washington office of Kirkpatrick & Lockhart and at the Federal Deposit Insurance Corp.
Mr. Kravitz succeeds Brian D. Cooney, who left the CPA group in July to lobby for the Manufactured Housing Institute.
Former regulator Dean V. Shahinian joined the Senate Banking Committee this month as a lawyer for the Democratic staff. Mr. Shahinian worked for the Office of Thrift Supervision for the past 11 years, where he served most recently as senior counsel for corporate activities. He had been on loan to the committee since last year. "It was a unique opportunity, perhaps, to make a bigger impact," he said of his permanent switch to Capitol Hill.
Former Arkansas Governor Frank White has been named the state's new bank commissioner. He succeeds Bill J. Ford, who retired Aug. 1 after more than 10 years in the post.
Mr. White, 65, had planned to retire at yearend from Little Rock's First Commercial Bank but left early to serve out Mr. Ford's term, which ends Feb. 9. Mr. White said Gov. Mike Huckaby plans to reappoint him to a full five-year term next year.
