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Title : Inside A Rockefeller Crony Capitalist Deal
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Inside A Rockefeller Crony Capitalist Deal

Nelson Rockefeller (1908-1979)

From Paul Volcker's new book, Keeping At It: The Quest for Sound Money together with Good Government,

This is Volcker close his menstruation when he was the personal assistant to Treasury Secretary Douglas Dillon:

 One item incident grates to this 24-hour interval equally besides typical of government. New York governor Nelson Rockefeller, Dillon told me, was planning to railroad train the World Trade Center inwards downtown New York. He needed aid from the Treasury to become far economically viable. US Customs, a large Treasury agency, needed a lot of infinite inwards New York. Could it commit to taking thousands of foursquare feet inwards the planned buildings? More importantly, the Trade Center would hold out funded together with owned past times the New York-New Bailiwick of Jersey Port Authority, the bistate agency that Rockefeller pretty much controlled. The Port Authority needed to know that the bonds it offered would hold out taxation exempt, assuring lower involvement rates together with feasible financing.

Influenza A virus subtype H5N1 duet of days afterward I delivered a curt memo to the the secretary:

1. Customs indeed needed novel space. Lease negotiations for Canal Street infinite a few blocks northward of the proposed World Trade Center were good advanced together with promised a much lower rent.

2. There was clearly a considerable excess of downtown component subdivision space. Tax exemption for what would essentially hold out individual commercial offices couldn't hold out justified nether established Treasury guidelines.

The secretarial assistant speedily read through the memo, looked up, and
pronounced:

"That's all fine, Paul. But what Nelson wants, Nelson volition get."

-RW 

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