Word: trader
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Dates: during 1990-1999
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...wake of the Feds decision last week, bond traders at Smith Barney were consumed by a day of more microeconomic moves as the phones came alive with buy and sell orders. Within minutes of the Fed's announcement, one trader ran up to chief bond manager Carballeira and roared, "I've got $20 million 3s offered at 4." He got the O.K. sign. "Joe, I have a customer for $50 million 5s at 3." "Those are done," said Carbelleira. "Joe, I got a customer for $10 million 3s at 5." "No more," said Carballeira, and then: "Hey, is everyone...
Even so, in a city that has perfected the tactic of trading long-term gain for short-term points, Gingrich's maneuver struck many as the most cynical they had seen in years. For months he worked behind the scenes as a pure free trader, insisting to Administration officials at every turn that he supported the treaty. Indeed, during the summer he won many changes in the measure as it was being drafted. He convinced the White House that U.S. participation in the World Trade Organization, a powerful new international body formed to arbitrate trade disputes, should be subject...
...firm has conceded that it recently sold derivatives that may not have been right for its clients. Prudential Securities said last month that it would buy back some $70 million of "risky" mortgage-backed bonds it had sold to 1,000 unwitting investors. Prudential blamed the sales on a trader who, the firm said, had been fired after misleading company brokers about the full extent of the risks involved in these derivatives. "These were good investments," says Charles Perkins, a company spokesman, "but people might not have wanted the risk and that's why we bought them back. The firm...
...manager in America, is suddenly fighting for his honor as GE faces embarrassments from its outpost on Wall Street to its half- century-old engine division in Evendale, Ohio. Chief among the problems is the mess at Kidder Peabody, GE's money-losing brokerage unit, where head government-bond trader Joseph Jett concocted $350 million of phony profits over a 29-month period before he was fired in April. Jett now claims to have been acting with the knowledge of his superiors. The scandal led Welch to sack the Kidder chairman, Michael Carpenter, whom he had installed...
...overweight Chicagoan is no Indiana Jones, he is convinced he has unlocked one of the great secrets of the ages: the location of Genghis Khan's tomb. Never mind that archaeologists have searched for the tomb for years without success. And forget that Maury Kravitz, 62, is a commodities trader and lawyer with no professional training in archaeology. His 34-year obsession with the Mongol leader has made him probably the best-informed amateur Genghis scholar in the world. About eight years ago, he found (he won't say where) what he thinks is a crucial reference to the burial...