CBS Evening News for Friday, Nov 21, 1986
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(Studio: Dan Rather) Report introduced.
(DC: Robert Schakne) Securities and Exchange Commission investigation into Ivan Boesky's insider trading violations said now focusing on possible market manipulation; Boesky noted cooperating with authorities' efforts. Scenes shown. [Representative John DINGELL - cites concern over possible criminal conspiracy.] Govt. investigators said examining possibility Boesky had secret and illegal arrangements with corporation raiders; details given. Carl Icahn's failed 1985 takeover bid for Phillips Petroleum cited as example [Fin. writer James SRODES - explains market manipulation.] Icahn's response mentioned. Boesky's relationship with firms of Drexel Burnham Lambert, and Jefferies and Company considered. [Alan GREENSPAN - explains potential consequences for firm implicated in such schemes.] SEC's defense of allowing Boesky to sell off large amount of stock before announcing penalties against him outlined.
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