Bitter and frequent is the complaint that the Securities & Exchange Commission tends to try its cases in newspapers before they are tried in courts. A crackdown from SEC begins with published charges based on what SEC "has reason to believe and does believe." Invariably the crackdown makes headlines, while the routine denial of the unhappy crack-downee is buried at the bottom of the column. Particularly irritated by this procedure because the firm was just getting on its feet after a severe Depression deflation was Otis & Co. Cyrus ("The Great") Eaton's...
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