Word: profitted
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Dates: during 1980-1989
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...great promise of legalization, say its advocates, is that it would rip this cancer out of the cities. If drugs were legal, the Government could regulate their sale and set a low price. Addicts could get a fix without stealing, and a lack of profit would dismantle the booming criminal industry that now supplies them. Drug gangs would disappear as bootleggers did after the repeal of Prohibition; with them would go the current, pervasive corruption of police officers, lawyers, judges and politicians bribed by drug money. Drug dealing would no longer seem to be the only...
...pure form, index arbitrage involves the simultaneous purchase of stock index futures contracts and the sale of the stocks that make up the index, or vice versa, to make a profit on the temporary "spread" or price difference between the two. Supporters of this classic kind of arbitrage say it provides a useful and necessary link to equalize prices between the stock markets in New York City and the futures exchanges in Chicago. But recently some Wall Street firms have taken to delaying one or the other leg of the two- part transaction, depending on which way the market...
...this moment to scale back index arbitrage? Wall Street insiders cite a variety of reasons, but the clincher seems to have been the threat of one of their biggest clients, Maurice . Greenberg, head of the insurance giant American International Group, to stop doing business with companies that continue to profit from program trading. If the firms hoped their announcement would head off further criticism, they were quickly disappointed. At Senate committee hearings the next day, former Treasury Secretary Donald Regan took time off from promoting his new book to urge suspension of all index futures trades. "The public has every...
...commercial potential. Mantegna's character, so newly installed in executive splendor that his office furniture is still covered with painters' drop cloths, solemnly explains that a quarter-century in show business has given him a certain wisdom. The cardinal rule, he says, is not to accept percentages of net profit because there is never, ever, a net. Then he muses aloud about whether there could ever be such a thing as a successful film that did not make money and announces, solemnly, that there cannot. At the outset, Silver's character is pitching a violent prison film starring a "bankable...
...House subcommittee is pursuing a separate suspicion -- that Milken and other Drexel Burnham employees may have taken huge profits at the expense of the firm's customers. Congressional documents show that on several occasions partnerships involving Drexel Burnham employees bought up large stakes in the firm's new junk-bond issues, then sold them at a profit. At the same time, some of the firm's clients reportedly found that their access to the issues was sharply limited...