Wall Street: A Little Self-Reform

Six months ago. when the SEC announced its intention of investigating all the nation's stock markets, some Wall Streeters wondered where Washington would find enough securities experts to handle the job. Last week the signs were that Wall Street itself might take a good deal of the load off the SEC's shoulders.

Anxious to forestall any lurid SEC revelations, the financial community is in the midst of a frantic bout of self-policing. Three weeks ago, the governors of New York's American Exchange secured the resignation of longtime Amex President Edward McCormick (TIME, Dec. 22). Last week, in a follow-up move,...

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