Word: sec
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Dates: during 1990-1999
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...always wanted to be pioneers in the music business, but not this way. Two clips from the album the band is currently recording have been smuggled onto the Internet. A fan in Hungary got hold of some private videotapes and uploaded 30-sec. audio clips from cuts called Discotheque and Wake Up Dead Man to his U2 Website. In cyberseconds, the clips were on sites worldwide and, despite their iffy quality, were playing on radio and mtv and selling on the streets of London for $10. U2 won't comment, but its label, Island Records, has asked that the songs...
...them, during which former Kremlin officials and present senior ministers have traded mutual accusations of contract murders, high treason, corruption and spying on one another. Nobody, of course, has been arrested in connection with these allegations. During most of this time Yeltsin--now largely reduced to symbolic 60-sec. taped appearances on the evening news--sat quietly by, occasionally expressing incongruously mild disapproval. All this came to an end in the middle of last week. Interior Minister Anatoli Kulikov, Lebed's open and bitter enemy, declared that Lebed was planning a coup, that he wanted to place most...
...shook up such manipulators in its recent sting. But the fact is the feds aren't set up to succeed time and again. The FBI and U.S. Attorney are great at undercover work and prosecuting fraud. But they don't know common stock from livestock. The market is the SEC's domain. But the SEC isn't empowered to employ wiretaps or conduct stings. No single agency is fully equipped for the mission...
...needed to buy real things like cars and toasters and to keep the economy humming. A crisis in confidence stemming from rip-off artists in the markets could have far-reaching consequences. "The threat to the system now begins to escalate," says sec enforcement chief William McLucas...
...protecting fund investors concerning the issues raised by your report. All investors should care when funds stray from promised objectives and allow a 31-year-old to manage a 71-year-old's nest egg. Will it take a cataclysm of major proportions to suggest the need for more SEC enforcement and oversight of the fund industry? WILLIAM H. MOHR New York City...