Word: lynch
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Dates: during 1990-1999
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Harvard raised some eyebrows this fall when it brashly decided to sue Merrill Lynch for $135 million after an investment went bust...
...lawsuit was one of the largest claims ever made against an investment firm, and a prominent investor like Harvard setting its sights on a top Wall Street firm like Merrill Lynch was not a common occurence...
...recent bankruptcy of Lomas Financial Corporation in which Harvard had invested $45 million--roughly one percent of the University's endowment--has raised questions about whether the risks are truly worth the potential gain. Harvard has charged the investment firm Merrill Lynch with "misrepresenting" Lomas' viability as an investment and is suing for triple damages over the incident...
Cohen was determined to build a firm that would rival Merrill Lynch in size. In 1984 he orchestrated a $360 million merger between Shearson/American Express and Lehman Brothers Kuhn Loeb. That move catapulted Shearson into the immensely profitable investment-banking business. But signs of stress began to appear in the wake of the 1987 stock-market crash, when Shearson paid nearly $1 billion to acquire E.F. Hutton. Dozens of top-notch Hutton brokers defected to other investment firms. At the same time, the firm suffered dwindling business from individual investors, on whom Shearson was still heavily dependent. Cohen, meanwhile...
Bush thus finds himself defending the Social Security tax increase while getting pummeled by Moynihan and his allies. Watching this spectacle unfold last week, Bruce Thompson, a Merrill Lynch executive who helped slash taxes as a senior Treasury official during the Reagan Administration, chuckled and noted that "not in ten years have you seen headlines read WHITE HOUSE REJECTS...