Word: stockings
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Dates: during 1980-1989
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...Stock Specialists. Under close scrutiny last week was the manner in which brokers and brokerages "make a market" -- set a price -- on the big exchanges and in smaller over-the-counter markets. The N.Y.S.E. currently has one trader, or specialist, assigned to each stock on the floor. The specialist's job is to keep the market moving, if necessary by buying or selling out of his brokerage accounts. On Black Monday, specialists lost hundreds of millions of dollars while picking up stocks no one else wanted. But some specialists have been accused of staying purposely away from the money-losing...
Global Regulation. The speed at which the crash circled the world made it clear that Tokyo, London and Manhattan are all connected outposts in a vast trading market. Yet the rules that govern stock trading can differ radically from country to country -- and indeed from one city to another. Some Congressmen are proposing that the Chicago futures markets be put under the authority of the Securities and Exchange Commission, which controls the stock markets. At the moment, the futures trading pits are supervised by the Commodity Futures Trading Commission, which also regulates such mundane commodities as pork bellies and grain...
Americans, dazed by the seizures on the world's stock markets, looked to the White House for . . . what? At the least, for an acknowledgment of the reality and the fear. Suddenly a door to the future had been blown open, and what the world saw (or was it mere hallucination?) seemed frightening. A glimpse of monsters out there in the dark. People looked for a stirring of presidential energy, for both substance and symbol to announce that the most powerful office in the world was alive to the danger. What the world needed was focus, intelligence, communication. It needed...
...energy. It was a custom a generation ago for people to remark, "Well, we must trust the President in that decision -- he has more information about it than we do." No one says that in the second term of Ronald Reagan. In fact, one unstated anxiety during the stock-market crash was that Reagan would inadvertently say something to make the panic worse...
...stocks surged so high this year that they were bound to crash, part of the blame belongs to America's relentless band of corporate raiders. As takeover titans battled to outbid one another, the share prices of many target companies -- or companies merely rumored to be targets -- reached unrealistic levels. Now, in the aftermath of Black Monday, the big deals are crumbling, and the raiders are retreating. But for how long? Is this the nadir of the raider, or will sagging stock prices make the targets more irresistible than ever...