Word: conflict
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Dates: during 1980-1989
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Iranian acceptance of the Syrian army's entry into the Beirut suburbs was thus perhaps a gesture of gratitude for the support Assad has given Iran throughout the conflict in the gulf. Iran could also claim that the peaceful solution prevented certain Hizballah defeat in Beirut had Syria used force, as it threatened to several times...
More fundamentally, the debate is over the role of law in upholding the nation's moral fabric. One function of the law is to express society's moral disapproval of or repugnance to an activity. Although that may sometimes conflict with personal freedom or even pragmatic considerations, it is still a principle that helps order American society, as it does every civilization...
...conflict is aggravated by drastic differences in culture and philosophy, almost as if the two capitals were situated in warring nations. On one side are Chicago's futures and options traders: young, brash, speculative, unabashedly noisy. On the other are New York's stock traders and brokers: tradition-bound, analytic, fraternal, relatively restrained...
...markets had few points of connection or conflict in the old days when Chicago stuck to its traditional business of trading futures in such commodities as soybeans, corn and pork bellies. But since 1972, when its markets began trading futures contracts based on Treasury bills and currencies, Chicago has produced an explosion of new financial instruments. Chicago's three major markets (the Board of Trade, Mercantile Exchange and Board Options Exchange) now trade futures and options based on everything from Eurodollars to municipal-bond indexes...
Perhaps the hottest battlefront in the New York-Chicago conflict is between the New York Stock Exchange and the Chicago Merc, which trades the controversial S&P 500 index futures. Each side in the standoff is unwilling to make any major procedural changes for fear of losing turf. The New York exchange, which was slow in setting up its own financial-futures market, controls 10% of worldwide trading in such contracts; the Chicago exchanges' share is about 80%. Contends John Sandner, chairman of the Chicago Merc: "We were so successful that it caused everyone to want to take our success...