Word: sec
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Dates: during 1970-1979
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Then too some businessmen suspect that asking for guidance will invite an investigation by the Securities and Exchange Commission, which disagrees strongly with the Justice Department's approach. Says SEC Enforcement Chief Stanley Sporkin, who has long been under fire by businessmen as an overly zealous regulator: "We do not have guidelines for rapists, muggers and embezzlers, and I do not think we need guidelines for corporations who want to bribe foreign officials...
...least 50% of their own funds. The Fed can also slow bank credit to stop speculation from feeding a boom, a step it took last week. In addition, there was no watchdog Securities and Exchange Commission in 1929 (it was set up in 1934). Today the SEC closely polices financial markets to stop inside dealing and fraudulent company reports, which were rampant in the '20s. While a stock market fall is always possible, it is less likely now to ripple through the economy...
Only a day before, sonic booms and cannon fire reverberated in the clear blue sky as Israeli and Syrian jets clashed over Lebanon. Flying U.S.-built F-15 fighters, Israeli pilots shot down four MiG-21s in a 90-sec. dogfight apparently provoked by the Syrians. The Israelis claimed that all their planes went unscathed. The dogfight underscored the fragility of the Lebanese ceasefire...
...accident at a Kentucky mine that killed 26 men. (Blue Diamond has been cited for violations of Government safety regulations more than 4,500 times in the past nine years.) In March the nuns asked Blue Diamond to register with the Securities and Exchange Commission so that the SEC would have to regulate it. The company refused, stating that the nuns had not been registered as bona fide stockholders. Now the nuns are going to court to force Blue Diamond to register them as the shareholders of record, so that they will be able to get a stockholders' list...
Company officials deny that the payments were bribes and claim they were sales commissions and consulting fees. In any event, the two-year investigation by the SEC has put ISC in dire trouble. Unable to meet its payroll since April, it has piled up $24 million in losses, and trading in its once highflying stock has been halted by the American Stock Exchange...