Salomon's Fine

Salomon's Fine

In a final chapter to one of Wall Street's many scandals, Wall Street power trader Salomon Brothers agreed to pay a $290 million fine as a settlement to a suit filed by the Securities and Exchange Commission and other government agencies. The investment firm admitted last August it had submitted billions of dollars in phony bids for Treasury notes and bonds. But unlike the benighted houses of E.F. Hutton and Drexel Burnham Lambert, Salomon can take solace in the government's decision not to press criminal charges.

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