Word: banking
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Dates: during 1990-1999
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...McDermott, or at least elevated their relationship to the point where she boasted to friends about her "really rich boyfriend." McDermott was certainly a man who knew the market, having worked his way up from entry-level research analyst to CEO of Keefe, Bruyette & Woods, a boutique investment bank. The firm was on the verge of what would have been his crowning achievement, a $100 million public offering last May. But days before the IPO, the firm canceled the deal when McDermott told his partners he was under investigation by the Securities and Exchange Commission for giving stock tips...
Last week porn star Marylin Star was charged with soliciting insider trading secrets from her "friend" James McDermott, the now former chairman of Keefe, Bruyette & Woods, an investment bank. She made $88,000 investing in companies his firm was about to help merge, and tipped off a buddy, who scored $86,000. I had been missing out on this stock-market craze for too long, and I needed to do something about it. Since no venture capitalists seemed as if they were going to invest in my Jeff Foxworthy tribute site idea, I figured I needed a new plan...
...quarter of the work force. Fathers of hungry kids were trying to sell apples on the street. F.D.R.'s bold experiments ("Above all, try something") included many that failed, but he brought hope to millions and some lasting contributions to the nation's foundation: Social Security, minimum wages, insured bank deposits and the right to join unions. Henceforth the national government (in the U.S. and most everywhere else) took on the duty of managing the economy and providing capitalism with a social safety...
From his vision emerged the great American middle class that has been the engine of more than five decades of progress and prosperity. From his new ideas flowed the seemingly endless array of programs and agencies of the New Deal: bank reform, a massive public-works effort to get America working again, rural electrification, the G.I. Bill. And, of course, his most enduring domestic creation, Social Security, a bond between generations that every President since has honored. Roosevelt proved that for markets to flourish, government must be devoted to opportunity for all. He understood that the initiative of individuals...
...peace established the institutions of collective security that have prevented another world conflagration. The whole system of international cooperation stems from his commitment. It was President Roosevelt, after all, who conceived and named the United Nations, and he was one of the visionaries behind the establishment of the World Bank and the International Monetary Fund. In one of his last messages to Congress, he said their creation "spelled the difference between a world caught again in the maelstrom of panic and economic warfare, or a world in which nations strive for a better life through mutual trust, cooperation and assistance...