Word: issuers
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Dates: during 1950-1959
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...Hatfields and the McCoys. One is Chicago's Halsey, Stuart & Co., which staunchly fights for competitive bidding for security issues; the other is Manhattan's Morgan Stanley & Co., which just as staunchly believes that the best way to float securities is to negotiate a price with the issuer...
...Government further objected to the way the defendants set the price of new securities: fixing the price at which they bought the securities from the issuer, and then setting a noncompetitive price at which they sold them to other dealers and investors. As far as Stebbins could see, the investment bankers couldn't lose. Snapped Medina: "I don't see how else [they] could do it. [They] certainly would not . . . make a deal in which [they were] sure to lose money...