IRAN: Meatball for the Shah

Awash in surplus oil profits, Iran is swiftly becoming the world's most acquisitive power. No purchase seems too big nor risk too great for Shah Mohammed Reza Pahlavi as he pursues his oft proclaimed goal of transforming his ancient kingdom into one of the globe's most important nations. Last week reports surfaced that the Shah once again was stalking where most bankers fear to tread. According to aviation-industry experts, Iran's banks are preparing to grant a loan, thought to be as much as $250 million, to ailing Pan American World Airways, the de facto U.S. flagship air carrier. The loan...

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