WALL STREET: Setting a Deadline for Reform

FOR years a bitter debate has been raging over how to reform the operations of the nation's stock-trading business so that it can handle efficiently the diverse needs of more than 32 million investors. The need became obvious when the 1969-70 bear market forced more than a hundred brokerages into financial failure or shotgun mergers. The causes were numerous, but one overriding factor was that Wall Street was still geared to a bygone age of relatively slow trading by individual investors dealing in 100-share lots; the stock exchanges could not cope with...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!