Word: paper
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Dates: during 1960-1969
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...They change from folk to rock as the hero gets corrupted (yes, Marshall, the media is the message). Leading man Roger Brown had a pleasant voice, and would have been a marvelous leader for a summer camp sing-a-long. The rock music, and the rock group, The Brown Paper Bag were monotonous, and imitative (more plagiaristically than facetiously) of groups like the Jefferson Airplane...
Whatever the reason, the dip made the smaller and more vulnerable brokerage houses wonder whether the backlog of paper work could not push them toward the "fail-safe" limit...
...lined blue uniforms for those at the front desk. At most brokerage houses, securities salesmen are expected to dress conservatively. Far more freedom is given to back-office clerical workers, who are even more out of sight, both literally and figuratively, now that they are buried behind piles of paper work...
...have no uniformly accepted identification numbers, a single issue may be assigned one number by the issuing corporation, a second by the broker who is selling, and a third by the broker who is buying. Such hoary habits, coupled with an unprecedented volume in trading, have created so much paper work that the nation's stock exchanges have been forced to close down every Wednesday since June 12 to catch up, a practice that will continue at least through...
...Central Certificate Service, which will eventually allow brokers to leave all stocks traded among themselves in a central clearinghouse, computerized certificates should go a long way toward streamlining back-office operations on Wall Street. But skeptics wonder whether the new measures may not be too late. Due to the paper work glut, brokers are often unable to deliver securities within the legal five-business-day period. Though such "fails" have not yet been a serious problem, technically they now represent a $3.24 billion debt owed by firms caught short of certificates. The situation could become critical if the market were...