Word: order
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Dates: during 1980-1989
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...Administration plan would cut capital-gains taxes to 15% but would also phase in a rule requiring investors to hold an asset for three years in order to qualify for this rate. The House measure, proposed by Georgia Democrat Ed Jenkins, would cut capital-gains taxes to 20% on investments held at least a year. But the cut would be short-lived; in two years the rate would return to 28% with indexing for inflation. Investors would be sure to roll over their assets and produce a quick windfall for the Treasury -- at the expense of future tax collections. House...
...type of shady deal was "front-running," in which a broker profits from advance information by trading ahead of a customer's order. A crooked broker might receive an order, for example, to buy 250,000 bu. of soybeans at $5.85 a bu. He could easily execute his own order to buy 50,000 bu. first. Later, when the market reacted to the larger order by pushing prices up to $5.95, the trader could sell his contracts, pocketing $5,000 in profits. A second illicit practice uncovered by the feds was "curb trading," in which brokers conspired to consummate deals...
Since the federal sting was disclosed in January, the exchanges have scrambled to put their houses in order. Disciplinary actions at the Board of Trade have jumped to 119 so far this year, from 55 in the same period last year. During that time, member fines at the Merc have increased eightfold -- to $1.9 million. The day after the indictments were published, the Board of Trade announced it would initiate a $1 million upgrade in its computerized surveillance program as well as triple its minimum fines to $250,000. The Merc's chief, Leo Melamed, pledged "to put the fear...
...most black South Africans, such a story would have ended in forcible dispossession. In Zwane's case, his despairing family sought help from a legal-aid organization in Johannesburg called the Legal Resources Center. LRC lawyers obtained an order against the authorities and won permission for Zwane to return and rebuild his home and business...
...many reporters and editors, that is a necessary trade-off in order to enjoy the benefits of the profession. "When you decide to become a journalist," says the Post's venerable political reporter and columnist David Broder, "you accept a lot of inhibitions that come with the responsibility of being part of a private business that performs a very important public service...