Word: sec
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Dates: during 1960-1969
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...FRONT-END LOADS. The SEC seeks to outlaw completely the so-called front-end load companies. Under this system, for example, the customer contracts to make regular payments to the fund for ten years-but a full 50% during the first year is diverted to salesmen's commissions and other charges. The average front-end buyer is barely aware of this fact. Said Subcommittee Chairman John Sparkman, an Alabama Democrat who also heads the full Senate Banking and Currency Committee: "Ordinarily, the salesman is pushing you so hard that you don't even look at the prospectus until...
...subcommittee hearings will likely adjourn later this month. A majority of the Senators clearly would like to find a middle way between the SEC charges and the industry defenses. Yet the first week's round, by general consensus, went to the SEC. This sense was perhaps best expressed by a subcommittee staffer overheard talking on the telephone to SEC Chairman Cohen. "The more these mutual-funds guys talk," he said, "the better off you are. So let the industry hang itself...
...binge began when California's 17-year-old Mark Spitz, who already held the world marks for the men's 100-meter butterfly and 400-meter freestyle, added the 200-meter butterfly to his collection with a 2-min. 6.4-sec. clocking that pared .2 sec. off the record set in 1964 by Australia's Kevin Berry. Then, swimming the first leg of the men's 400-meter freestyle relay, Michigan's Ken Walsh, 22, was timed in 52.6 sec. for 100 meters, bettering the old mark by .3 sec...
...matched in the women's 400-meter freestyle against the reigning world record holder, Pamela Kruse, 17, of Pompano Beach, Fla. She obviously has no respect for her elders. Leaving the aging Pamela struggling vainly in her wake, Debbie splashed to a daylight victory in 4 min. 32.6 sec., beating the Floridian's world mark by a fantastic 3.8 sec...
...altitude of 50,000 ft., a bar-ostatically-triggered drogue parachute is released. In turn, the craft's main parachute is pulled open, and the astronaut descends, feet first, at 15 ft. per sec.-slow enough for a safe landing on either water or solid ground...