Businessweek Archives

Bcci


Washington Outlook: CAPITAL WRAPUP

BCCI

Democrats may try to tar the Bush Administration with the Bank of Commerce & Credit International mess, but the White House isn't blinking yet. FDIC Chairman L. William Seidman recently announced that he would retire on Oct. 16, and the Administration seems inclined to nominate as his successor William Taylor--a Federal Reserve senior bank regulator at a time when the Fed failed to detect that BCCI illegally owned a Washington bank. Nor is Bush wavering on nominee Robert M. Gates to head the CIA, which had links to BCCI while Gates was a top agency official.EDITED BY STAN CROCK


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