Word: counters
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Dates: during 1980-1989
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Stock Specialists. Under close scrutiny last week was the manner in which brokers and brokerages "make a market" -- set a price -- on the big exchanges and in smaller over-the-counter markets. The N.Y.S.E. currently has one trader, or specialist, assigned to each stock on the floor. The specialist's job is to keep the market moving, if necessary by buying or selling out of his brokerage accounts. On Black Monday, specialists lost hundreds of millions of dollars while picking up stocks no one else wanted. But some specialists have been accused of staying purposely away from the money-losing...
...reason except that investors still had cash to invest after selling so furiously in previous sessions, and began to see blue-chip bargains among the battered stocks. The Dow rose 52.56 on Tuesday, .33 on Wednesday, a robust 91.51 on Thursday and 55.20 on Friday. Even the over-the-counter market, which was more devastated in the fall than the New York exchange, showed signs of life on Friday, rising...
...from a position of strength, rather than in response to demands from below. "Reforms which appear to be granted under pressure from events and the demands of more radical groups can only weaken the regime, strengthen the radicals, lead to more extreme demands from more groups, and provoke a counter-revolutionary backlash...
...reduce white opposition to change in South Africa, but even more firmly, he suggested the government should repress three types of violence: revolutionary, spontaneous and backlash. "No reform occurs without violence...Within limits reform and repression may proceed hand-in hand...The government that is too weak to monopolize counter-revolutionary repression is also too weak to inaugurate counter-revolutionary reform...
...Stella was convinced that abstract painting, for its own survival, would have to take practical lessons from old masters like Rubens and Caravaggio; it must find an "independent pictorial space to establish its ties with the everyday space of perceived reality." This ran counter to the whole argument of American formalism -- and of the movement with which his early black, aluminum and copper stripes had been associated, minimalism -- which strove to isolate the space of pictures from that of the real world. The results were a set of brilliantly colored oblique reliefs, the Brazilian paintings of 1974-75, followed...