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Economy: Insider Trading / Drexel Burnham Lambert #319444

CBS Evening News for Wednesday, Dec 21, 1988
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(Studio: Dan Rather) Report introduced.

(NYC: Ray Brady) Drexel Burnham Lambert officials reported settling securities law violations out of court; details given of guilty plea and fine, scenes shown. [In company videotape, Drexel executive Fred JOSEPH - says trial would have been costly.] [US Attorney Rudolph GIULIANI - comments on investigation.] Convicted inside trader Ivan Boesky noted giving details of illegal operations to authorities in exchange for lighter sentence. [Author Connie BRUCK - comments on role of Drexel executive Michael Milken in operation.] Wall Street officials quoted with regard to probable lawsuits to be brought against Drexel by customers.

Reporter(s):
Brady, Ray;
Rather, Dan
Duration:
00:02:30

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