Word: knouts
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Dates: during 1940-1949
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...revolution Menzhinsky wrote a prophecy: "If Lenin ever reaches power in fact, and not in imagination, he will make a mess of it, the like of one made by Czar Paul I. ... Leninists are a clan of political gypsies, with a strong voice and a love for wielding the knout, imagining that it is their inherent right to serve as coachmen for the laboring masses...
After the revolution, Prophet Menzhinsky became the Leninists' knout. Lenin called him "the decadent neurotic." This policeman was interested in Persian art and higher mathematics. He wrote erotic poetry and read pornographic novels in his office between executions. He was plump, languid, soft-voiced, given to blue moods. He said: "Our task is to bring culture to the masses at a terrific speed." His OGPU, successor to the CHEKA,' brought death by execution and starvation to millions of Ukrainian and other peasants...
...Deal's Public Utility Holding Company Act of 1935 is a knout which can be used to flay the backs of investment bankers holding controlling blocks of utilities stock. The act's description of a holding company fits any investment house which directly or indirectly controls more than 10% of a utility's voting stock. Such a house feels the knout until: 1) it gets rid of its holdings; or 2) registers as a holding company, thereby submitting to SEC regulation, a penitential hair shirt which no investment banker wants to wear...
...head on the block for the SEC's death sentence. Said Byllesby Vice President Joseph H. Briggs: "It appears the only course open is liquidation of the voting trust and sale of the stock." From SEC came ominous rumbles that other investment houses may also feel the knout...