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John W Meriwether

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NEWS
August 19, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
The government on Sunday punished Salomon Bros. by curtailing the Wall Street giant's right to bid on Treasury bonds and notes, but it rescinded a much harsher penalty just hours after announcing it. The Treasury first completely barred Salomon from Treasury auctions, an unprecedented and potentially devastating ban for a firm which routinely makes billion-dollar bids for Treasury securities. But the Treasury backed down after billionaire investor Warren E.
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BUSINESS
September 27, 1998 | TOM PETRUNO
If it sounds too good to be true--well, you know the rest. Consider this e-mail message, which arrived last week, unsolicited, from a company calling itself Diamond International in Beverly Hills. "Dear Friend: This is an EXTREMELY important announcement for you. Your Future May Depend On It!" That should always get one's attention. The message goes on to invite me to learn from the "World Currency Cartel" how to profit from the "secret flaw" in currency markets.
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BUSINESS
September 27, 1998 | TOM PETRUNO
If it sounds too good to be true--well, you know the rest. Consider this e-mail message, which arrived last week, unsolicited, from a company calling itself Diamond International in Beverly Hills. "Dear Friend: This is an EXTREMELY important announcement for you. Your Future May Depend On It!" That should always get one's attention. The message goes on to invite me to learn from the "World Currency Cartel" how to profit from the "secret flaw" in currency markets.
BUSINESS
January 5, 1993 | From Associated Press
Salomon Inc. said Monday that it paid an estimated $20 million to settle a dispute over back pay with its former president and vice chairman, who left the firm in the wake of its Treasury bond scandal. Salomon said it has been unable to reach agreement with former Chairman and Chief Executive John Gutfreund and former general counsel Donald Feuerstein. But Salomon said in a statement it has agreements with former Vice Chairman Thomas W. Strauss and former President John Meriwether.
BUSINESS
January 5, 1993 | From Associated Press
Salomon Inc. said Monday that it paid an estimated $20 million to settle a dispute over back pay with its former president and vice chairman, who left the firm in the wake of its Treasury bond scandal. Salomon said it has been unable to reach agreement with former Chairman and Chief Executive John Gutfreund and former general counsel Donald Feuerstein. But Salomon said in a statement it has agreements with former Vice Chairman Thomas W. Strauss and former President John Meriwether.
BUSINESS
February 9, 1988
Karsten Mahlmann, chief executive and managing partner of Stotler & Co., has been reelected as chairman of the Chicago Board of Trade. Patrick H. Arbor, vice president and director of Shatkin Trading Co., was reelected vice chairman. Also elected to three-year terms as directors of the exchange were: - John F. Benjamin, senior vice president, Drexel Burnham Lambert Inc. - David P. Brennan, independent trader. - John W. Meriwether, managing director, Salomon Bros. - Irwin N.
CALIFORNIA | LOCAL
August 21, 1991
At times the greed on Wall Street is shameless. Now we have revelations that traders at the highflying New York brokerage house of Salomon Bros. wantonly compromised the integrity of the $2.2-trillion U.S. government securities market. Company officials have admitted to illegal bidding for Treasury securities in an attempt to corner the market.
BUSINESS
August 20, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
Salomon Bros.' quick steps to deal with its government securities scandal brought some positive results Monday as a number of big clients said they will continue to do their usual level of business with the company. But the scandal showed signs of broadening as sources confirmed that the Securities and Exchange Commission has requested documents from more than a dozen other big firms that trade Treasury securities.
BUSINESS
August 29, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
The rating agency Moody's Investors Service downgraded its rating of Salomon Bros.' commercial paper and senior debt Wednesday, possibly forcing the beleaguered Wall Street firm to rely longer than expected on an emergency plan for financing its daily operations. Salomon, however, said the ratings drop poses no threat to the firm's liquidity, and securities industry analysts said they saw no immediate cause for alarm. Investors took Moody's move in stride.
BUSINESS
August 15, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
Salomon Bros., the nation's leading trader of government securities, admitted Wednesday that its wrongdoing in Treasury auctions was much wider than previously disclosed and said the firm's highest executives knew of violations but failed to inform regulators. The Wall Street brokerage, investment bank and primary dealer of government securities also said in a statement that it could face criminal prosecution and possibly be suspended or barred as a securities dealer.
NEWS
August 19, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
The government on Sunday punished Salomon Bros. by curtailing the Wall Street giant's right to bid on Treasury bonds and notes, but it rescinded a much harsher penalty just hours after announcing it. The Treasury first completely barred Salomon from Treasury auctions, an unprecedented and potentially devastating ban for a firm which routinely makes billion-dollar bids for Treasury securities. But the Treasury backed down after billionaire investor Warren E.
OPINION
October 4, 1998 | Charles R. Morris, Charles R. Morris is the author of "The Cost of Good Intentions," an analysis of the New York fiscal crisis. His new book, "Money, Greed and Risk: An Analysis of Financial Crises," will be out next year
One consoling feature of most of the derivatives-related financial fiascoes of the past decade is that they were object lessons in what can happen when incompetents play with large amounts of other people's money. Robert L. Citron, the former treasurer of Orange County, who lost almost $2 billion of the public's money in 1994, could plausibly plead that he didn't know Merrill Lynch was stuffing his portfolio with all that high-risk paper. One can almost sympathize with Nicholas W.
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