Word: sec
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...breaks what not long ago seemed the insurmountable barrier of the 4-min. mile. So when Alan Webb, 18, who weighs perhaps 140 lbs. when his clothes are dripping wet, ran the mile in 3:53.43 in May, besting my 36-year-old high school record by nearly 2 sec., it was a milestone not just for track and field but for sport in America...
...often that Wall Street sells off 6 percent on a morning that Alan Greenspan cuts interest rates by 50 basis points before the bell, the ECB follows suit, and the SEC, looking to make sure somebody has a reason to buy, loosens its controls on companies buying back their own stock. But as pipe dreams of a patriot?s rally quickly went up in smoke, it became clear before long that this wasn?t going to be a coward?s panic either. The losses stabilized by late morning and actually bounced a bit off their lows before slipping again...
...soon as it became evident that BONY was having serious problems, officials at Treasury, the Fed and the SEC organized a series of telephone conference calls by Thomas Renyi, the chairman of BONY, and Gerald Hassell, its president. A key issue: how to restore communications and computer functioning as quickly as possible with some 200,000 of the 500,000 phone lines in lower Manhattan out of service...
...safety precaution while the tragic events of today are sorted out, the securities markets have decided not to open for trading today," SEC chairman Harvey Pitt said in a statement. "We strongly support that decision...
...SEC said Tuesday afteroon that markets would not reopen Wednesday, and announcements about future plans would be made then. But most guessing has it that the pulse of Wall Street could be silent for at least the rest of the week. Damage to the enormous technical apparatus that makes everyday financial trading possible - including commodities markets housed in the buildings themselves - must be assessed and repaired, and the human cost of this tragedy on the business of business can hardly be underestimated...