Word: lasker
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Dates: during 1980-1989
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...correction of some sort seemed almost inevitable. Propelled by favorable economic news and a wave of multibillion-dollar takeovers, stocks had soared more than 1,000 points since the 1987 crash. But by last August some Wall Streeters were clearly worried. Noted Donald Stone, a floor specialist for Lasker, Stone & Stern: "I've been on the trading floor for 39 years, and I've never seen the market go up so fast for so long without a major break." Yet the bulls kept on running. Just last Monday the market closed at a historic peak of 2791.41, its fifth record...
...Hunts' prospects in a slew of other silver-crash lawsuits, which had been put on hold pending the outcome of the Minpeco case. Two class actions filed by some 17,000 investors now await hearings before the U.S. district judge who presided over last week's verdict, Morris Lasker. The Hunt family's advisers believe that no domino effect will occur, since the other lawsuits differ in some respects from the Minpeco case. But that may be wishful thinking. Says a Government official: "The Hunts may appeal and fight for a while, but the total loss of their fortune...
School briefs are enlivened and focused with anecdotes and sage quotes from jaded codgers. What former New York Stock Exchange Chairman Bernard J. ("Bunny") Lasker said just before the bull market of the mid-'70s would be true enough in the '80s: "I can feel it coming, SEC or not, a whole new round of disastrous speculation, with all the familiar stages in order -- blue-chip boom, then a fad for secondary issues, then an over-the-counter play, then another garbage market in new issues, and finally the inevitable crash...
After 13 months of anticipation and delays, Wall Street's most spectacular speculator -- and insider trader -- finally heard his fate. Hands clutched behind his back, Ivan Boesky, 50, listened pensively while U.S. District Court Judge Morris Lasker told a packed courtroom in Manhattan, "Criminal behavior such as Boesky's cannot go unchecked. Its seriousness was too substantial merely to forgive and to forget." With that the judge sentenced the onetime superstar investor to three years in prison for his role in the largest insider-trading scandal in history...
...spotlight will be back on the scandal once again this week, when the biggest insider trader snared so far, Ivan Boesky, is scheduled to appear in U.S. District Judge Morris Lasker's Manhattan courtroom for sentencing. Boesky, who has been pointing investigators toward investment bankers and others with whom he traded inside information, faced Judge Lasker last week in a final hearing before sentencing. Once Wall Street's most aggressive speculator in takeover stocks, Boesky was a picture of contrition in court. "I am deeply ashamed," he said. "I have spent the last year trying to understand how I veered...