Word: sec
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Dates: during 1960-1969
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...middle is Lyndon Johnson. Pleased by the market's 100-point rise since he took office, Johnson last week courteously received New York Stock Exchange President Keith Funston at the White House. But while the President tries to keep Wall Street friendly to his Administration, the SEC is relentlessly moving in on what it considers the Street's abuses. The most obvious sign of the dispute at the moment is the SEC's attempt to curb a clubby coterie of insiders on the Exchange, but the real issues are much deeper and broader. Says a top SEC...
...Easiest Target. The struggle has been going on since a special SEC study group reported last summer that many investors were underprotected and overcharged by the Exchange and by brokers (TIME, July 26). Some of the SEC's proposed reforms were adopted by market leaders; last week, for example, Funston's Big Board tightened its standards for corporate listings, and recently it toughened rules covering market letters and brokerage research departments. But that is not nearly enough for the SEC. Among other things, it wants to: 1) reduce the commissions that investors pay for trading in "odd lots...
...first target, the SEC shrewdly picked the easiest-the floor traders, whom it tried to abolish as far back as 1945. It argues that the traders unfairly benefit from inside information and have no responsibility to the public...
...nobody makes fun of Bob Hayes any more. Outdoors in St. Louis last June, he ran the 100-yd. dash in 9.1 sec., clipping .1 sec. off Frank Budd's world record. Indoors in New York three weeks ago, he sprinted 60 yds. in 5.9 sec. for still another world record. In a year and a half, outdoors or indoors, Hayes has lost only two races...
...Loyola of Chicago's Tom O'Hara, 21: the featured mile race at the Chicago Daily News Relays, by 80 yds., in 3 min. 56.4 sec.-breaking his own world indoor record by .2 sec. "I could have run two seconds faster if I had wanted to let out," said O'Hara...