Sunday, May 03, 2009
Swine Flu Found on Wall Street
I worked a number of years in archaeology around the Wall St. neighborhood and watched the ticker-tapes and various evolving computer equipment hit the curb. A number years ago I was sent a packet of information on a federal case that alleged that a number of brokers were selling blue-chip stock solely on a directive of whether the stock ended in an odd or even number in the fraction, to the tune of $3/4 billion losses and seeking damages of $1.5 billion from about 20 of the major brokerage houses on Wall St. "The fractional format is the type used traditionally in the stock market, and the decimal format is the type that the stock market has now adopted." (hashemian.com) That in retrospect, though significant, might have been a Trojan Horse? Perhaps the SEC was led to look in the wrong place and it should have had better information.
Not having the stock alleged "mis-traded" I wonder why I received the inquiry. We sometimes look for remains of old traders in the city, Augustine Heerman, the "Czech" from Maryland or Isaac Allerton, the "Puritan" from New Haven, CT both with warehouses in early Manhattan. I've not seen any evidence like these crooked deals, that would have astonished them, and might have placed their customers in the "First Almshouse" cemetery, today inside City Hall Park, next to the monuments to Horace Greeley and Joseph Pulitzer. Thanks to the free press.
About Swine Flu
Read the Article at HuffingtonPost