Word: tradings
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...typical shady deal they are believed to have detected is the "bucket trade," in which a broker slices an extra profit margin by buying a contract from a confederate at a bit more than the going price in the pit, or selling one for a bit less. For example, if a customer asks the broker to sell a soybean contract of 5,000 bushels and the market price is $7.50 per bushel, the crooked broker may sell the contract to a colleague for $7.40. That gives the colleague a discount of 10 cents per bushel, or $500, some of which...
...undercover agents recorded their information not just in the hurlyburly of the pits but on social occasions as well. Two feds working the Board of Trade solicited stories about illegal trades by throwing lavish parties in their high-rise apartments and by joining the posh East Bank Club, a gym popular with commodities brokers. One agent who called himself Richard Carlson claimed that he specialized in soybean contracts and was a native New Yorker; the other, who called himself Michael McLoughlin, said he worked the Treasury- bond pit and was from Florida. "Both were nice guys, pleasant, friendly," recalls...
More ominous, right-wing death squads are reviving their grisly trade. By one count, death-squad killings totaled more than 50 in 1988, more than double the number in 1987. And despite U.S. pressure on the Salvadoran army to respect civilians, soldiers are accused of responding to the guerrilla offensive by kidnaping and murdering suspected sympathizers...
...disturbing sign of the new times popped up last week, when the Government reported that the U.S. trade deficit surged in November to $12.5 billion, up from $10.3 billion the previous month. The stalled progress in narrowing the trade gap brings into question a central assumption of U.S. trade strategy: that the weak dollar will continue to shrink the deficit by making U.S. exports cheaper overseas and imported goods more expensive for American shoppers. But U.S. imports just keep on rising. That partly reflects what some economists have begun to call "hysteresis" -- a fancy term for the notion that...
Even before the figures came out, a Japanese official warned the U.S. against weakening the dollar as a trade-gap remedy. Makoto Utsumi, a senior executive in the Finance Ministry, declared that a further fall of the dollar against the yen would not close the trade gap because Japanese firms would lay off workers and take other steps to remain competitive. A cheaper dollar, said Utsumi, would simply "make America for sale...