Word: righted
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Dates: during 1980-1989
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...accepted the Government's argument that his views might blur the issue.) Regan's trades were part of a hedging strategy under which you buy and sell related securities at the same time. You lose on one and gain on the other, but if you've done the math right, you'll usually lose a little less than you gain. Yippee! But you've got to keep your transaction costs low and, of course, not get caught with a taxable gain on one half of the hedge without realizing your loss on the other half. It was to avoid that...
...jurors I interviewed seemed less than rock solid in their conviction too. "I don't feel what they did was jailworthy," one juror told me. Said another: "I felt bad about this whole thing, to tell you the truth. I don't feel like we did the right thing." Yet, oddly, one could argue things actually did work out about right...
...Government may have been right to take this terrible RICO blunderbuss and use it to scare the living daylights out of Wall Street, because Wall Street's level of greed and immorality in the '80s had reached a cyclical peak...
...Regan's defense team was certainly right to decry the Government's use of RICO. Even the Justice Department seems to agree it shouldn't be used this way again. At best, you might say it was sort of like bombing Hiroshima. The Government was looking for something dramatic to end the war, but it was of questionable morality...
...defiance. In 1959, rather than submit to federal court orders to merge their two public school systems (black and white), the supervisors of Prince Edward County closed them down, and then kept them closed for five years. It was an extension of "massive resistance," the last stand of states' rights. The position was argued in high legalisms. But in deeper truth, Senator Harry F. Byrd Sr. and other leaders of white Virginia were constructing a cathedral of rhetoric ("interposition . . . sacred duty . . . priceless natural right . . .") to enshrine the remnants of the nation's original sin, slavery...