Yitzhak Rabin journalist Dan Margalit revealed that a joint dollar account in the names of Yitzhak and Leah Rabin, opened in a Washington, D.C., bank during Rabin's term of office as Israel ambassador (1968–73), was still open, in breach of Israeli law. According to Israeli currency regulations at the time, it was illegal for citizens to maintain foreign bank accounts without prior authorization. Rabin resigned on 8 April 1977, following the revelation by "Maariv" journalist S. Isaac Mekel that the Rabins held two accounts in Washington, not one, containing $10,000, and that a Finance Ministry administrative penalty committee fined them IL150,000. Rabin
Yitzhak Rabin of 1973 he was elected to the Knesset as a member of the Alignment. He was appointed Israeli Minister of Labour in March 1974 in Golda Meir's short-lived government. While serving as ambassador, Rabin met and formed a relationship with Menachem M. Schneerson. Following Golda Meir's resignation in April 1974, Rabin was elected party leader, after he defeated Shimon Peres. The rivalry between these two Labour leaders remained fierce and they competed several times in the next two decades for the leadership role, and even for who deserved credit for government achievements. Rabin succeeded Golda Meir as Prime Minister of