Word: lamberts
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Dates: during 1980-1989
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...sent new waves of shivers through Wall Street. According to the rumor mill, which is now more preoccupied with subpoenas than proxy statements, as many as 60 Wall Streeters will be accused in connection with the Boesky scandal alone. Rumors about possible charges against the investment firm Drexel Burnham Lambert, which had close ties to Boesky, have become so vexing to the company that it has begun taking out two-page newspaper ads listing a roster of 238 contented clients...
...nerves were calmed last week by the spectacle of another once powerful Wall Streeter getting a prison sentence. Dennis Levine, a former managing director at the Drexel Burnham Lambert investment firm who broke open the scandal last year by implicating Boesky, drew a term of two years, making him the fourth insider trader this year who will do hard time. Levine had faced as much as 20 years on four counts of securities fraud, perjury and income-tax evasion. "I beg you, let me put the pieces of my life together again," he implored U.S. District Judge Gerard Goettel before...
...usual in the hazy area of illicit trading, Giuliani made his case only with the help of an informant. The man who actually fingered the arrested trio was Martin Siegel, 38, who resigned last week as co-chief of mergers and acquisitions for the Drexel Burnham Lambert investment firm and who had previously worked in a similar department of Kidder, Peabody. Known in investigators' documents by the code name CS-1, Siegel had confessed that while at Kidder, Peabody from June 1984 to January 1986, he had been part of an insider-trading ring that included Wigton, Freeman and Tabor...
...Bedroom Window is like a bus ride through Wonderland. The direction is bumpy, but the plot, from Anne Holden's novel The Witnesses, is reverberant in twists and implications. Terry Lambert (Steve Guttenberg) is having an affair with his boss's wife Sylvia (Isabelle Huppert). Through her lover's window she sees a punk (Brad Greenquist) attack a young woman, Denise (Elizabeth McGovern). To protect Sylvia, Terry tells the police he witnessed the assault. But the road to jail is paved with good intentions. Soon Terry is a fugitive, and both Sylvia and Denise are prey to a wily killer...
...that price, the USX takeover would have been the second most expensive in U.S. history, ranking behind only the $13.2 billion acquisition of Gulf Oil by Standard Oil of California in 1984. But Drexel Burnham Lambert, Icahn's investment bankers, apparently could not raise all the money needed. Some Wall Street observers speculated that Drexel Burnham's ability to finance takeovers has been somewhat hampered by the fact that it has been subpoenaed in the widening Securities and Exchange Commission investigation into illegal insider trading...