Stanley Fischer took office as a member of the Board of Governors of the Federal Reserve System on May 28, 2014, to fill an unexpired term ending January 31, 2020. He resigned on October 13, 2017. Prior to his appointment to the Board, Dr. Fischer was governor of the Bank of Israel from 2005 through 2013. From February 2002 to April 2005, Dr. Fischer was vice chairman of Citigroup. Dr. Fischer served as the first deputy managing director of the International Monetary Fund until August 2001. From January 1988 to August 1990, he was the chief economist of the World Bank. Dr. Fischer was born in Lusaka, Zambia, in October 1943. He received his BSc and MSc in economics from the London School of Economics. He received his PhD in economics from the Massachusetts Institute of Technology.
Article: Bank of Israel under fire over decade-long currency intervention
Article - Media, PublicationsBank of Israel under fire over decade-long currency intervention
Steven Scheer, 08 March 2017
JERUSALEM (Reuters) – The Bank of Israel has a problem. After spending almost a decade and huge sums trying to curb the shekel, the currency is still rising relentlessly – to the dismay of the country’s exporters.
In 2008 the central bank began what was supposed to be a temporary fix. The plan was to buy large amounts of dollars and halt a rapid rise in the shekel, partly to protect exporters who account for more than 30 percent of economic output and form a strong domestic lobby.
But after purchasing more than $70 billion over the years, the bank is still struggling to soften the exchange rate and prevent Israeli exports from becoming relatively more expensive on world markets. Continue reading “Article: Bank of Israel under fire over decade-long currency intervention”
Article: Israeli Businessman Nochi Dankner Found Guilty of Stock Manipulation
Article - Media, PublicationsIsraeli Businessman Nochi Dankner Found Guilty of Stock Manipulation
Jasmin Gueta, 04 July 2016
Nochi Dankner, who was for a decade one of the most powerful business tycoons in Israel, was found guilty on Monday of stock manipulation and other securities-related offenses.
Broke tycoon ejected from Tel Aviv restaurant. In first testimony, Dankner denies role in alleged share manipulation. Nochi Dankner survives South America helicopter crash. The maximum punishment for the offenses is five years’ imprisonment.
In a 280-page decision, Judge Khaled Kabub of the Tel Aviv District Court found Dankner guilty of all the charges that had been brought against him, which centered on his manipulating the share price of his publicly traded IDB Holding Corporation ahead of a secondary offering of its shares in February 2012. Dankner consistently denied any wrongdoing. Continue reading “Article: Israeli Businessman Nochi Dankner Found Guilty of Stock Manipulation”
