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Investment Bankers Case
''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.A financial history of the United States Vol. 3
M.E. Sharpe, 2002


Facts

The Justice Department filed suit against the firms in 1947 claimed that the leading investment banking firms had combined, conspired and agreed, in violation of the , to control and monopolize the U.S. Securities markets. The 17 Wall ...
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United States Supreme Court
The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States. It has ultimate appellate jurisdiction over all U.S. federal court cases, and over state court cases that involve a point of federal law. It also has original jurisdiction over a narrow range of cases, specifically "all Cases affecting Ambassadors, other public Ministers and Consuls, and those in which a State shall be Party." The court holds the power of judicial review, the ability to invalidate a statute for violating a provision of the Constitution. It is also able to strike down presidential directives for violating either the Constitution or statutory law. However, it may act only within the context of a case in an area of law over which it has jurisdiction. The court may decide cases having political overtones, but has ruled that it does not have power to decide non-justiciable political questions. Established by Article Three of the United States C ...
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Lehman Brothers
Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before Bankruptcy of Lehman Brothers, filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, and Merrill (company), Merrill Lynch), with about 25,000 employees worldwide. It was doing business in investment banking, Stock, equity, Bond (finance), fixed-income and Derivative (finance), derivatives sales and stock trading, trading (especially U.S. Treasury securities), research, investment management, private equity, and private banking. Lehman was operational for 158 years from its founding in 1850 until 2008. On September 15, 2008, Lehman Brothers filed for Chapter 11, Title 11, United States Code, Chapter 11 bankruptcy protection following the exodus of most of its clients, drastic declines in its stock price, and the devaluation of assets by credit rating agencies. The collapse was largely due to Lehm ...
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Smith Act Trials Of Communist Party Leaders
The Smith Act trials of Communist Party leaders in New York City from 1949 to 1958 were the result of US federal government prosecutions in the postwar period and during the Cold War between the Soviet Union and the United States. Leaders of the Communist Party of the United States (CPUSA) were accused of violating the Smith Act, a statute that prohibited advocating violent overthrow of the government. The defendants argued that they advocated a peaceful transition to socialism, and that the First Amendment's guarantee of freedom of speech and of association protected their membership in a political party. Appeals from these trials reached the US Supreme Court, which ruled on issues in ''Dennis v. United States'' (1951) and ''Yates v. United States'' (1957). The first trial of eleven communist leaders was held in New York in 1949; it was one of the lengthiest trials in United States history. Numerous supporters of the defendants protested outside the courthouse on a daily basis. ...
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Southern District Of New York
The United States District Court for the Southern District of New York (in case citations, S.D.N.Y.) is a federal trial court whose geographic jurisdiction encompasses eight counties of New York State. Two of these are in New York City: New York (Manhattan) and Bronx; six are in Downstate: Westchester, Putnam, Rockland, Orange, Dutchess, and Sullivan. Appeals from the Southern District of New York are taken to the United States Court of Appeals for the Second Circuit (except for patent claims and claims against the U.S. government under the Tucker Act, which are appealed to the Federal Circuit). Because it covers Manhattan, the Southern District of New York has long been one of the most active and influential federal trial courts in the United States. It often has jurisdiction over America's largest financial institutions and prosecution of white-collar crime and other federal crimes. Because of its age and influence, it is sometimes colloquially called the "Mother Court" ...
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Salomon Brothers & Hutzler
Salomon Brothers, Inc., was an American multinational bulge bracket investment bank headquartered in New York. It was one of the five largest investment banking enterprises in the United States and the most profitable firm on Wall Street during the 1980s and 1990s. Its CEO and chairman at that time, John Gutfreund, was nicknamed "the King of Wall Street". Salomon Brothers served many of the largest corporations in America. At one time, it was the leading underwriter of corporate bonds and the largest dealer of Treasury Securities in the United States. It was also one of the top firms in futures and options (known as "derivatives") and in securitization in a range of asset classes including commercial real estate securities. The bank was famed for its "cutthroat corporate culture that rewarded risk-taking with massive bonuses, punishing poor results with a swift boot." In Michael Lewis' 1989 book ''Liar's Poker'', the insider descriptions of life at Salomon gave way to the popu ...
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Merrill Lynch
Merrill (officially Merrill Lynch, Pierce, Fenner & Smith Incorporated), previously branded Merrill Lynch, is an American investment management and wealth management division of Bank of America. Along with BofA Securities, the investment banking arm, both firms engage in prime brokerage and broker-dealer activities. The firm is headquartered in New York City, and once occupied the entire 34 stories of 250 Vesey Street, part of the Brookfield Place (New York City), Brookfield Place complex in Manhattan. Merrill employs over 14,000 financial analysts and manages $2.3 trillion in client assets. The company also operates Merrill Edge, an electronic trading platform. Prior to 2009, the company was publicly owned and traded on the New York Stock Exchange. Merrill Lynch & Co. agreed to be acquired by Bank of America on September 14, 2008, at the height of the financial crisis of 2007–2008, the same weekend that Lehman Brothers was Bankruptcy of Lehman Brothers, allowed to fail. Th ...
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Halsey Stuart & Co
Halsey may refer to: People *Halsey (surname), including a list of people *Halsey (singer) (born 1994), American singer and songwriter *Halsey baronets, a title in the Baronetage of the United Kingdom *Halsey Beshears, a Republican politician from Florida Placenames in the United States * Halsey, Oregon, city in Linn County * Halsey, Nebraska, village in Blaine and Thomas counties * Halsey, Wisconsin, town in Marathon County * Halsey Brook, a creek in East Jewett, New York * Halsey Street (other) Other uses *, several United States Navy vessels * "Uncle Albert/Admiral Halsey", Paul McCartney song referring to a U.S. Admiral * Halsey Field House, multi-purpose arena at the United States Naval Academy, Annapolis, Maryland * Halsey Institute of Contemporary Art, contemporary art institute within the School of the Arts at the College of Charleston, South Carolina * Halsey, a menswear fashion company started by Robbie Rogers Robert Hampton Rogers III (born May 12, 1987) i ...
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Bache & Co
Places *Bache, Cheshire *Bache Peninsula, on Ellesmere Island, Canada People *Richard Bache (1737–1811), an American Postmaster General *Sarah Franklin Bache (1743–1808), his wife and Benjamin Franklin's daughter **Benjamin Franklin Bache (journalist) (1769–1798), an American journalist, Richard and Sarah's son ***Franklin Bache (1792-1864), American physician, chemist, professor and writer **Benjamin Franklin Bache (surgeon) (1801–1881), U.S. Navy surgeon, Richard Bache's grandson **Alexander Dallas Bache (1806–1867), an American physicist, Richard Bache's grandson **George M. Bache (1840–1896), an American naval officer, Richard Bache's grandson * Samuel Bache (1804–1876), an English Unitarian Minister **Francis Edward Bache (1833–1858), an English composer, Samuel Bache's son **Walter Bache (1842–1888), an English pianist and conductor, champion of Franz Liszt, Samuel Bache's son **Constance Bache (1846–1903), an English pianist and author, biographer of he ...
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Union Securities Corp
Union commonly refers to: * Trade union, an organization of workers * Union (set theory), in mathematics, a fundamental operation on sets Union may also refer to: Arts and entertainment Music * Union (band), an American rock group ** ''Union'' (Union album), 1998 * ''Union'' (Chara album), 2007 * ''Union'' (Toni Childs album), 1988 * ''Union'' (Cuff the Duke album), 2012 * ''Union'' (Paradoxical Frog album), 2011 * ''Union'', a 2001 album by Puya * ''Union'', a 2001 album by Rasa * ''Union'' (The Boxer Rebellion album), 2009 * ''Union'' (Yes album), 1991 * "Union" (Black Eyed Peas song), 2005 Other uses in arts and entertainment * ''Union'' (Star Wars), a Dark Horse comics limited series * Union, in the fictional Alliance–Union universe of C. J. Cherryh * ''Union (Horse with Two Discs)'', a bronze sculpture by Christopher Le Brun, 1999–2000 * The Union (Marvel Team), a Marvel Comics superhero team and comic series Education * Union Academy (other), t ...
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Stone & Webster Securities Corp
In geology, rock (or stone) is any naturally occurring solid mass or aggregate of minerals or mineraloid matter. It is categorized by the minerals included, its chemical composition, and the way in which it is formed. Rocks form the Earth's outer solid layer, the crust, and most of its interior, except for the liquid outer core and pockets of magma in the asthenosphere. The study of rocks involves multiple subdisciplines of geology, including petrology and mineralogy. It may be limited to rocks found on Earth, or it may include planetary geology that studies the rocks of other celestial objects. Rocks are usually grouped into three main groups: igneous rocks, sedimentary rocks and metamorphic rocks. Igneous rocks are formed when magma cools in the Earth's crust, or lava cools on the ground surface or the seabed. Sedimentary rocks are formed by diagenesis and lithification of sediments, which in turn are formed by the weathering, transport, and deposition of existing rocks. M ...
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