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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: tyc:> who wrote (63102)	1/27/2009 8:35:57 AM
From: E. Charters	of 78416

It could have happened. On August 5, 1987, Ivan Boesky won a great victory in the courts with the SEC. The SEC was then the Government's last major hope to expose endemic corruption on Wall Street. The Street was heavily tapped (tethered mikes were known as torpedoes at the time). Boesky ordered his traders to charge the limit. When the monitors from the SEC picked up the news they sank a couple of floor traders who let slip some arrangements, but the others began to pull back. Boesky could see the brokers pulling back from junk bonds, lashed to the rigging of conventional wisdom. "What's the trouble?" he shouted through a cell phone from the offices of Drexel Burnham and Lambert. "We are being torpedoed by the Feds!" Milikan shouted back in reply. "Damn the torpedoes!" said Boesky, "Four bells. Milikan, go ahead! Milikan, full speed!" The bulk of the brokers succeeded in selling their bonds. Boesky then triumphed over the opposition of the SEC in Washington and New York to defeat the lawsuits of Stockholders. Boesky was promoted to SEC Chairman on December 21, 1992, and to Secretary of the Treasury on July 25, 1997, after the election of Jimmy Carter to a 5th term. His last active service was in command of the European Union, as a financial advisor. He remained in active government duty for life, an honor accorded to only two other US Wall Street Swindlers. EC<:-}

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