Word: marketeers
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Dates: during 1960-1969
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Relentlessly, Lenz assembled the evidence against thalidomide. Phocomelia (seal limbs) had been one of the rarest of congenital defects until 1960, the year after thalidomide went on the market. Then the incidence of the condition increased exponentially, and Lenz had a damning graph showing that it went up on a curve exactly paralleling that of thalidomide sales-but with an eight-month time lag. Lenz explained that he explored other suggested explanations for the increase in phocomelia, such as X rays, TV radiation, fallout and attempted abortions. As a cautious clinical scientist, he eventually rejected them all. Said Lenz: "There...
...world's largest and best-known brokerage house, of practicing fraud and deceit by misusing inside information. Even though Merrill Lynch immediately protested its innocence, the charges by their very nature can only tarnish Wall Street's zealously nurtured image. That image is of a market where 24 million investors can trade with confidence that they are not being cheated...
...already awash in problems. The stock exchanges are battling the Government in defense of their lucrative but controversial system of fixed minimum commissions. As part of an eight-month effort to unsnarl the paperwork jam that has slowed brokers' back-office operations, the exchanges and over-the-counter market last week decided to remain on a four-day trading week throughout September. Beyond all that, the Merrill Lynch case is clearly Wall Street's newest, worst nightmare, if only because it is bound to raise doubts about the habits and methods of brokers everywhere...
Stretching the Rule. The SEC's current effort to force the exchanges to pare their commissions began only this year, but the drive to erase insiders' advantages in the stock market started long ago. The agency established in 1961, in the Cady, Roberts case, that a broker who buys or sells stock on the basis of inside information commits fraud. Such police work intensified after Lawyer Manuel F. Cohen, an austere career civil servant, took over as SEC chairman in 1964. In the Merrill Lynch case, the SEC contends that not only the inside-tip giver is acting...
...rush to sports? To sociologists, it is a statistical commonplace that Americans not only have plenty of money to spend on their leisure but are spending it more energetically than ever before. As a result, the "leisure market" has more than doubled over the past decade, is now worth something like $32 billion a year...