Word: walls
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Dates: during 1980-1989
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NIXON IN CHINA (Nonesuch). A waltz across the Great Wall with Dick, Pat, Henry, Mao and the missus: last year's best new opera is this year's best new opera recording...
...competing bid from First Nationwide Bank, a San Francisco-based subsidiary of Ford Motor. And Democratic Senator Donald Riegle of Michigan is worried that Bass might use money from the federally supported S and L to unfairly augment his corporate-raiding power. The Bank Board's chairman, M. Danny Wall, defends his bailout, calling it the best deal the Government could get. Furthermore, he notes, the federal agency holds a 30% share in the California S and L, and will profit handsomely if it recovers...
...recovering, he explained, from knee surgery to remove cartilage he had torn in a backyard basketball game at his suburban Los Angeles home. Looking tanned and relaxed, Milken did not know that he was minutes away from being slammed with one of the most sweeping stock-fraud lawsuits in Wall Street history...
...case could be a turning point in the fortunes of Wall Street's most go- getter firm, the financing machine that drove much of the corporate raiding of the roaring 1980s. The complaint charged Milken and Drexel with a whole catalog of offenses, including fraud against the firm's own clients, insider trading, the "parking" of stocks to conceal their true ownership, and the destruction of accounting records to cover up the transgressions...
...They've thrown the book at them, almost every violation of the 1934 Securities and Exchange Act," said Edward Brodsky, a Wall Street lawyer and former U.S. Attorney. Potentially the most devastating charge was the accusation that Drexel, the fifth largest U.S. investment firm (1987 revenues: $3.2 billion), had cheated some of its important customers. Said Brodsky: "That is raw stuff...