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Economy: Insider Trading #322130

CBS Evening News for Thursday, Jun 09, 1988
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(Studio: Bob Schieffer) Report introduced.

(Studio: Ray Brady) Govt. reported approving action against Drexel Burnham Lambert for insider trading. [Securities attorney Ira Lee SORKIN - comments on situation.] Drexel executive Dennis Levine noted convicted for insider trading. Levine reported telling of Ivan Boesky's illegal activities. Drexel Burnham memo quoted on screen. Drexel executive Michael Milken and president Fred Joseph noted subpoenaed by Congress committee examining secs. violations. [Representative Ron WYDEN - comments on situation.] Drexel's public relations campaign featured. ["Adwk." spokesperson Barbara LIPPERT - comments on company's actions.] Drexel reported contributing to campaigns. of Senators Alfonse D'Amato, Alan Cranston and Tim Wirth. Joseph quoted.

Reporter(s):
Brady, Ray;
Schieffer, Bob
Duration:
00:02:30

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