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Wall Street / Boesky Scandal, Stock Market #307411

CBS Evening News for Tuesday, Nov 18, 1986
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(Studio: Dan Rather) Report introduced.

(DC: Rita Braver) Continue repercussions of Ivan Boesky's admission to SEC of insider trading violations examined; details given, scenes shown. [Attorney Richard PHILLIPS - cites ease in blurring line between what's legal and illegal.] Investigation said include execs. at Drexel Burnham Lambert such as Michael Milken; companies whose stock deals are under scrutiny by Securities and Exchange Commission said listed in "Wall Street Journal. "[PHILLIPS - cites consequences for other investors of people such as Boesky.] Status of Securities and Exchange Commission investigatory abilities outlined on screen. [Senator William PROXMIRE - cites need to determine adequacy of present laws.]

(NYC: Ray Brady) Fin. district's concern over reports that Boesky secretly taped conversations with his associates discussed; scenes shown. [PEOPLE - comment.] [R. Foster WINANS - describes psychological factors involved in insider operations.] Winans recalled former "Wall Street Journal" reporter facing sentence for insider trading violations. Stk. Mkt. Report [Takeover specialist Harold SIMMONS - believes level of regulation is adequate.] Fall of Stop 'n Shop and Gillete stock said possibly indicating backlash against merger mania.

Brady, Ray;
Braver, Rita;
Rather, Dan

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