/biz/ - Business & Finance

>>57091592
>United States v. Morgan, 118 F. Supp. 621 (S.D.N.Y. 1953), more commonly referred to as the Investment Bankers Case was a multi-year antitrust case brought by the United States Justice Department against seventeen of the most prominent Wall Street investment banking firms, known as the Wall Street Seventeen.[1][2][3]

Morgan Stanley & Co.
Kidder Peabody
Goldman Sachs
White Weld & Co.
Dillon Read & Co.
Drexel & Co.
First Boston Corporation
Smith Barney & Co.
Kuhn, Loeb & Co.
Lehman Brothers
Blyth & Co.
Eastman Dillon & Co.[5]
Harriman Ripley
Stone & Webster Securities Corp.
Harris, Hall & Co.
Glore, Forgan & Co.
Union Securities Corp.
>Excluded from the case were a number of prominent Wall Street firms, including Bache & Co., Halsey Stuart & Co., Merrill Lynch, Pierce, Fenner & Beane and Salomon Brothers & Hutzler among others.

>DJIA) rose from 776 in August 1982 to a peak of 2,722 in August 1987

>On the morning of Wednesday, October 14, 1987, the United States House Committee on Ways and Means introduced a bill to reduce the tax benefits associated with financing mergers and leveraged buyouts. Unexpectedly high trade deficit figures announced on October 14 by the United States Department of Commerce had a further negative impact on the value of the US dollar while pushing interest rates upward and stock prices downward.[10] As the day continued, the DJIA dropped 95.46 points (3.81 percent) to 2,412.70, and it fell another 57.61 points (2.39 percent) the next day, down over 12 percent from the August 25 all-time high. On Friday, October 16, the DJIA fell 108.35 points (4.6 percent)
On that Monday, the DJIA fell 508 points (22.6 percent), accompanied by crashes in the futures exchanges and options markets