Word: stocked
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...make bets on the country's debt. His investments eventually soured, however, and Duer's bankruptcy brought down much of New York's economy in 1792; he died a few years later in debtors' prison. (The charter members of the Buttonwood Group, the predecessor of the New York Stock Exchange, first assembled to formulate a response to that market crash.) Nineteenth century railroad magnate Jay Gould didn't try to hide his flagrant insider trading; profits from buying and selling stock in his own companies helped make him one of the wealthiest men in U.S. history...
...first real crackdown against the practice came in 1909, when the U.S. Supreme Court ruled that that a director of the Philippine Sugar Estates Development Company committed fraud when he bought stock in his company without sharing information with the seller that soon boosted its value. But it wasn't until after the 1929 stock-market crash that Congress passed laws to limit such trading (although it didn't move to ban it outright) and created the Securities and Exchange Commission to enhance market oversight. As the stock market expanded in the 1960s, the SEC grew more aggressive in fighting...
...junk-bond king" who famously earned $550 million in 1987, avoided prosecution on similar charges by pleading guilty to other criminal counts. But the largest insider-trading conviction came two decades later, in 2007, when former Qwest Communications head Joseph Nacchio was convicted of selling $52 million in company stock while knowing the company was headed for trouble. He was sentenced to six years in prison, though an appeals court later ordered his sentence reduced...
...plow into the crowd on the sidewalk and cause "disaster." (A few years later, an overzealous reveler reportedly neglected to tear the pages out of a phone book and instead threw the whole thing out the window; it struck a passerby and knocked him unconscious.) By 1926, New York Stock Exchange officials had grown concerned about the cost of tossing miles of ticker tape out the window any time someone important came to town: they considered buying confetti to distribute to employees but decided against it. In 1932, another irate Times letter writer demanded that lobbing paper be "promptly...
...late 1960s, the stock exchange was upgrading to electronic boards, leaving them little use for ticker tape. The parades dwindled: there was only a handful in the 1970s and 1980s. The 1990s saw a brief resurgence: among the highlights was the 1998 fete honoring John Glenn for becoming the oldest person to go into space, at age 77. Coming 36 years after his first one, it put him in an élite club of multiple-parade honorees, including Amelia Earhart, Dwight Eisenhower and Charles de Gaulle. But there have been only two parades this decade - one for the Yankees fresh...