Word: segregationism
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¶. Declared a truce with Wall Street. SEC Chairman William O. Douglas announced in Manhattan: "The day of the crackdown on Wall Street is over. . . . The prosperity of the New York Stock Exchange is not incompatible with the national welfare." As a basis for further reform by the Exchange, Chairman...
Segregation of long-term and short-term capital gains and losses would be required in calculating both carryover and current returns. In other words, short-term losses might be applied to short-term gains, but not to long-term gains or vice versa.
Locals of sufficiently retentive memory will tell as a fact that there now exists less sentiment of "classmates, just classmates" than before the consummation of President Lowell's supreme segregation. This makes sense a priori. Put a man in one of the Houses for three years, and he is certain...
Segregation of brokers and dealers. "The study of segregation is yet to be made. What course of action will be taken will depend upon . . . that study. . . ."
Almost every broker in Wall Street has for months been talking this way in private. Reason at this time for speaking publicly was fear that the SEC would soon inaugurate its "segregation plan" announced last June. To achieve an investment market and reduce speculation, the SEC proposed, by segregating the...