June 8, 1986 |
This nation's freeze on the assets of former PhilippinesPresident Ferdinand Marcos and ousted Haitian President Jean-Claude (Baby Doc) Duvalier has exposed a truth and blown away a myth about the world of Swiss banking. The truth is that rulers said to have accumulated fortunes while in power can and do bring their money to Swiss banks.
May 11, 1989 |
Gary G. Lynch, who as director of enforcement for the Securities and Exchange Commission has overseen the agency's most far-reaching investigations of Wall Street corruption, said Wednesday that he is resigning his post in mid-July. Widely viewed as one of the individuals most responsible for the watershed securities fraud cases brought against Dennis B. Levine, Ivan F. Boesky and the Drexel Burnham Lambert securities firm, Lynch said he will probably enter a private legal practice.
November 12, 1987 |
Yes, the National Public Radio reporter who blew the whistle on ex-Supreme Court nominee Douglas Ginsburg's pot-smoking took a toke once. "I have never smoked marijuana except for once when I took a puff in my room," said Nina Totenberg, NPR's legal affairs reporter. But, unlike Sens. Albert Gore (D-Tenn.), former Arizona Gov. Bruce Babbitt or any of the rest of the parade of public officials who have confessed to inhaling cannabis in their youth, Totenberg doesn't particularly regret it.
February 27, 1985 |
John M. Fedders resigned Tuesday as director of enforcement for the Securities and Exchange Commission, one day after it was disclosed that he had admitted in divorce court to having beaten his wife seven times during their 18-year marriage. Fedders announced his resignation in quiet tones at a late-afternoon meeting of his staff.
January 2, 1986 |
It was another year of trials and tribulations for the nation's business elite. But there was some good with the bad. Many of 1985's news makers were old hands, like Steven P. Jobs, Lee A. Iacocca and Ted Turner. New to the celebrity scene were Robert Fomon, Thomas Murphy and Ivan F. Boesky. The biggest feat of the year was Joseph Jamail's. The 60-year-old Houston lawyer persuaded a Texas jury to award $10.
March 6, 1985
As expected, Gary Lynch was named Tuesday as acting director of the enforcement division of the Securities and Exchange Commission. He replaces John M. Fedders, who resigned last week after reports of marital and financial problems. Lynch, elevated by SEC Chairman John S. R. Shad, has been associate director of the enforcement division for 2 1/2 years. He joined the commission in 1976 as a staff attorney in the enforcement division.
January 2, 1986
JANUARY Treasury Secretary Donald T. Regan switches jobs with James A. Baker III, White House chief of staff. Nine of OPEC's 13 members lower the benchmark price of crude oil. AT&T reports a disappointing $1.4-billion profit for the first year following its divestiture. FEBRUARY Phillips Petroleum faces a takeover bid from financier Carl C. Icahn. A month later, Icahn walks away after a recapitalization at Phillips yields him a $50-million profit.
November 30, 1986 |
The announcement that would electrify the financial world was only minutes away when Securities and Exchange Commission enforcement chief Gary G. Lynch assembled his staff in the hallway outside his office in Washington. Before an astounded, cheering crowd of 150 SEC staffers, Lynch shared the secret that had consumed a dozen of his investigators for three months. The ringleader of the enormous insider trading scheme scandalizing Wall Street had led the SEC to an even bigger fish: Ivan F.
September 2, 1986 |
The space shuttle Challenger explodes, killing everyone aboard. Technical experts say they had warned the National Aeronautics and Space Administration to postpone the shuttle launch for fear the unusually cold weather might jeopardize safe operation of the booster rockets.
April 14, 1991 |
Susan Bustamante was a credit officer in a bank, Glenda Virgil a veterinarian's assistant, Brenda Clubine a nurse. They never knew each other--or that they had so much in common--until they killed their husbands. They met in the California Institution for Women at Frontera, where they continue to meet, along with 34 others, in a support group for battered women.