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(Studio: Connie Chung) Report introduced.
(DC: Irving R. Levine) SEC's defense of its action against Ivan Boesky for insider trading violations and background to developing scandal reviewed; Drexel Burnham Lambert bond broker Michael Milken's role in Boesky affair discussed. Attorney Edward Bennett Williams said approached to represent Milken. Criticism of Securities and Exchange Commission allowing Boesky to make major stock sale just prior to announcement of penalties against him considered. [Representative Charles SCHUMER - accuses Securities and Exchange Commission of hypocrisy.] [Representative John DINGELL - believes Securities and Exchange Commission justification of action will be difficult.] [SCHUMER - questions agency's leniency toward Boesky.] Securities and Exchange Commission penalties against Boesky outlined. [Advest Incorporated spokesperson William LeFEVRE - notes Boesky can legally trade on United States mkts. from overseas office]
- Chung, Connie;
- Levine, Irving R.
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