Word: 1960s
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...boosted its value. But it wasn't until after the 1929 stock-market crash that Congress passed laws to limit such trading (although it didn't move to ban it outright) and created the Securities and Exchange Commission to enhance market oversight. As the stock market expanded in the 1960s, the SEC grew more aggressive in fighting insider trading, relying on a general prohibition against securities fraud. In 1987, the Supreme Court ruled that a former Wall Street Journal reporter, R. Foster Winans, and two associates were guilty of mail and wire fraud for trading on names mentioned in upcoming...
...again in the 1920s, shrank and stayed low for decades, then began to grow again in the 1970s, reaching unprecedented levels earlier this decade. The measure Philippon uses is the economic value added of the financial sector as a percentage of GDP, which was at about 4% in the 1960s and hit almost 8% in 2006. An easier-to-understand metric - financial-sector profits as a share of overall corporate profits - followed an even more dramatic trajectory, from 12% in the mid-1960s to almost...
...1960s were by most measures the best decade ever for growth and widening prosperity in the U.S.; the past decade has been a bust. Yet the financial sector was relatively tiny in the 1960s and huge in the 2000s. Could this mean that good times for finance are bad for the rest of us? Philippon says it isn't that simple. The 1990s, for example, were good for both Wall Street and Main Street. His theory, which fits the historical evidence well, is that the financial sector's share of the economy should increase when there are fast-growing companies...
...three weeks every month, 20 to 30 students from the world over gather in Bologna inside a tiered lecture room in a Jetsons-style building erected in the early 1960s for the brothers Carpigiani, who perfected the first electric gelato machine. There, a gelato maestro shows them how to transform lowly buckets of cream or bags of fruit into cold, concentrated flavor that often has half the fat of American ice cream...
JUANITA CASTRO, the younger sister of former Cuban President Fidel Castro, revealing in a new memoir that she worked undercover for the CIA during the 1960s...