Word: walls
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Dates: during 1960-1969
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...career, Bernard Baruch was invariably characterized as an adviser to Presidents or a park-bench philosopher who doled out wisdom from a seat in Central Park or Lafayette Square. Admirers tended to forget-Baruch never did-that in the forenoon of that career, he had also been one of Wall Street's craftiest speculators. Baruch could be bearish or bullish. He once sold Amalgamated Copper short and realized $700,000 when Amalgamated reduced a dividend, causing its overpriced stock to tumble. Another time, alerted by a newspaperman that Commodore Schley had beaten the Spanish at Santiago, virtually ending...
Broadway as Well as Wall Street...
...Funston and American Exchange President Ralph Saul have warned their member brokers not to abet ill-advised speculation; in some cases the exchanges have stopped trading in risky stocks temporarily or require 100% margin. Giant Merrill Lynch, Pierce, Fenner & Smith recently dusted off an advertisement that reminds investors that Wall Street runs two ways. Securities & Exchange Commission Chairman Manuel F. Cohen has his investigators scrutinizing for possible fraud 45 companies whose stock is actively traded; previously the Government had secured indictments against 22 brokers, bankers, lawyers and businessmen for allegedly rigging the stock of two small companies traded...
Childish Stories. At the risk of erecting a credibility wall between himself and the public by leaving almost every question unanswered, McNamara forbade all discussion of the barrier by military men to stop any seepage of information valuable to the enemy. Although he promised to keep Congress up to date, American taxpayers may never know the cost ($1 billion over two years, according to one estimate) or the effectiveness of McNamara's stratagem...
...vast sums of other people's money, depend on federal antitrust pressure against dominant IBM for survival and on favorable income tax breaks for much of their profit. Yet a dozen companies, none more than 15 years old, have thrived so splendidly that computer-leasing stocks were among Wall Street's hottest glamor issues this spring...