Possibilities remain for derivative excesses
Article Abstract:
Merrill Lynch resolved its involvement in a $1.6 billion investment loss that bankrupted Orange County, CA, in 1994 by paying $400 million in settlement. The company appeared casual about paying the amount related to the 1994 derivatives scandals, and assured it will not affect its profits. However, it is still unclear whether Wall Street thinks investing in volatile derivatives is safe or not. Derivatives are securities or contracts with a value bound to another security, a commodity, a currency-exchange rate or interest rate.
Comment:
Resolved its involvement in a $1.6 bil investment loss that bankrupted Orange County, CA, in 1994 by paying $400 million
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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Don't bet on scandal-plagued firm's recovery
Article Abstract:
The stock of Marsh & McLennan declined by 45 percent after the New York Attorney General, Eliot Spitzer announced his suit against them. In this suit, Spitzer targeted the firm's practice of charging insurers a contingent commission, which is a fee to take their business according to their wish.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
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Sympathy goes begging in Stewart verdict
Article Abstract:
The Martha Stewart case that ended in guilty verdicts in March 2004 is discussed. She was charged with fraud for falsely claiming innocence to support her ImClone Systems' share price
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
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