In 1976, the American Jewish Congress singled out Morgan Guaranty a...
Citations (1)
- The House of Morgan - An American Banking Dynasty and the whole source · open book
In 1976, the American Jewish Congress singled out Morgan Guaranty and Citibank for loyally executing this dirty work and cited their “pivotal role in the implementation of the Arab boycott.”7 Morgan Guaranty executed 824 letters of credit including the language of the boycott, although they protested and successfully expunged the offensive language in two dozen cases. While some banks welcomed tough anti-boycott legislation, Chemical Bank and Morgans testified against it; it was finally enacted in 1977.
chapter: 30. Sheiks