Word: wall
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Dates: during 1930-1939
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...last week while all Wall Street watched, President Roosevelt was closeted with his two chief Wall Street policemen- Chairman William 0. Douglas of the Securities & Exchange Commission and one-time Chairman Joseph P. Kennedy. Though no connection was admitted by those involved, within two days the New Deal took a step for which brokers and bankers had clamored since the stockmarket smash began over ten weeks ago. Without offering explanation, the Federal Reserve Board reduced margin requirements for stock purchases from...
...circumstances was that brokers' loans last week stood at only $779,000,000, lowest point since April 1935. To businessmen who have wondered whether the current market troubles presage a major catastrophe such as occurred in 1929, this low figure was a bulwark of optimism. It proved that Wall Street credit was not over-extended as it was in 1929 when brokerage loans toted up over $8,000,000,000. Except for this strong argument the Reserve Board would almost certainly not have yielded to the Wall Street demands for lessened Government restriction...
Having yielded so much in the unpopular direction of Wall Street, the Reserve Board last week made a gesture in the opposite direction. In deference to amateur economists who believe that short selling by wolves of Wall Street is responsible for all recessions in stock prices,* the Board, for the first time in its history, imposed a margin requirement on short selling- 50%. This gave the impression that bears were to be regulated more strictly than bulls, who are now permitted 40% margins...
...Said Chairman Edward T. Taylor of the potent House Appropriations Committee last week: "I do not think there is any question but that the insiders in Wall Street brought on the present situation in an attempt to embarrass the Roosevelt administration." *Fast on its feet for once, the New York Stock Exchange month ago began a study of daily average short sales in A.T. & T., General Motors, S.O.N.J., New York Central. U. S. steel, last week announced that so far they were only 22.7% of the total...
...Morgan partner sits on the board of Guaranty Trust and a Guaranty Trust official sits on the board of a coal company, then the House of Morgan controls the coal company-not to mention the Guaranty Trust. But Governor Earle promptly opened up on "the witch doctors of Wall Street...