Wall Street: Underground Combine

To officials of the American Stock Exchange, something seemed decidedly fishy in the Wall Street firm of Re, Re & Sagarese. A year and a half ago, even though the Res had been cleared of wrongdoing by the Exchange's Board, the exchange launched an investigation into the activities of Gerard A. Re and his son Gerard Jr. Both are partners in their own house (Partner Sagarese was not involved) and were specialists on the floor of the exchange, meaning that they had the highly trusted responsibility of "making the market" or setting...