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...richest investment houses were summoned, on an hour's notice, to an emergency meeting in the exchange's dark-paneled board room. President Robert Haack told them they had to come up with some salvage plan or face a major crisis. By process of elimination, Merrill Lynch, Pierce, Fenner & Smith, by far the biggest U.S. brokerage, was selected as savior. Clifford Michel, managing partner of Loeb, Rhoades, explains: "One strong, viable firm had to take over, and Merrill Lynch was the only one that had the capital, the muscle and the talent...

Author: /time Magazine | Title: Wall Street: Last Act in the Cliff-Hanger? | 11/9/1970 | See Source »

Hard Bargain. Merrill Lynch President Donald T. Regan reluctantly agreed to have the firm put up an immediate $15 million to save Goodbody. He said that Merrill Lynch had gone along because a Goodbody collapse "might hamper the orderly functioning of the nation's capital markets." Regan drove a hard bargain. Exchange officials had to agree to assess the 578 member firms a total of $30 million to guarantee Merrill Lynch against losses that it might suffer in taking over Good-body. At week's end, it was still uncertain whether Merrill Lynch will absorb Goodbody by itself...

Author: /time Magazine | Title: Wall Street: Last Act in the Cliff-Hanger? | 11/9/1970 | See Source »

...know, regardless of what he says, that Dr. William A. Lynch really means the opposite of whatever it is he says in the Winthrop House dining room...

Author: By Sheila Dillon, | Title: LYNCH ON ABORTION | 11/4/1970 | See Source »

...Lynch, told his Winthrop House audience that long experience as a physician has convinced him that most women seeking an abortion really want to give birth, regardless of what they...

Author: By Sheila Dillon, | Title: LYNCH ON ABORTION | 11/4/1970 | See Source »

Perhaps, being a practicing physician in this society, and a former hospital president, Dr. Lynch can afford to undertake this project. Otherwise, he is consigning a multitude of unwilling mothers, along with their innocent offspring, to a miserable existence...

Author: By Bob Mccoy, | Title: The Mail LYNCH'S LAWS | 11/2/1970 | See Source »

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