WALL STREET: Perot's Orderly Retreat

Computer Millionaire H. Ross Perot's decision in 1971 to take over the teetering brokerage firm of duPont, Glore Forgan & Co. was widely credited with averting a round of genuine investor panic on Wall Street. Among other things, it seemed that the firm's customers claimed that they owned about $15 million more in securities than could be found in duPont, Glore Forgan's vaults. Other brokers were hardly anxious for back-office carelessness on Wall Street to become any more of an issue than it already was—which was certain to happen if the...

Want the full story?

Subscribe Now

Subscribe
Subscribe

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!