“Bankers Trust ran into big trouble peddling derivatives last year, and Charles Sanford Jr., the bank's chairman, angrily tackles the issue [in the annual report]. He places blame for the disaster on ‘a very few of our employees,’ he writes, people who ‘did not abide by our standards.’ But he will not paper over the problem, he promises. ‘We have rededicated ourselves to openness.’”

-- on Bankers Trust's 1994 annual report, from “Annual Reports: Upfront and Unstarched”
by Patrice Duggan Samuels, The New York Times, April 9. 1995

ELAINE BENNETT
Bennett Ink LLC

Box 213 Maplewood, NJ 07040
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