Word: brink
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...this year, Wall Street has been enacting a financial version of The Perils of Pauline, with the customers playing Pauline. Time and again, investors have been threatened with loss of the money and stock held for them by brokerage houses that have gone to the brink of insolvency-or fell over it. Repeatedly, the financial community has prevented disaster by rounding up new capital for the failing firm, arranging a shotgun merger or, as a last resort, ransoming customers' stock by making payments out of a $55 million New York Stock Exchange trust fund. Last week Wall Street managed...
...Congress. Most distressing of all is the thought of what would happen if another major firm staggers to the brink. The Goodbody bail-out was the sort of thing that can be done only once; not even Merrill Lynch has the resources to rescue a succession of failing houses. If Congress passes the bill to set up a Securities Investor Protection Corp., with authority to tap the Treasury for as much as $1 billion to restore stock to customers of failing brokers, all may be well for investors, though not necessarily for their brokers. The Goodbody furore has improved...
Five years ago, Yale President Kingman Brewster invited Hersey to join the Yale staff as a sort of nonprofessorial gadfly-in-residence. He accepted and became "master" of Pierson College. He watched sympathetically as national events and the evolving youthful counterculture led Yale to the brink of what he regretfully came to call "confrontational hysteria...
...broken leg and ignores his complaints of discomfort. The leg develops gangrene and has to be amputated. The boy's parents sue the doctor. Another surgeon accidentally punctures a 40-year-old man's esophagus. An infection develops, and the patient hovers on the brink of death. The patient sues the surgeon...
Hevern is the first Harvard lineman to be named to the ECAC weekly team this year. Surprisingly, no Crimson defensive players were mentioned. Other Ivy players on the team were Yale quarterback Joe Massey, Brown fullback Gerry Hart and Dartmouth tackle Barry Brink...