The Wall Street move into merger work accelerated into a stampede a...
Citations (1)
- The House of Morgan - An American Banking Dynasty and the whole source · open book
The Wall Street move into merger work accelerated into a stampede after May 1, 1975, when the SEC abolished fixed commissions on stock trades. This stripped away an easy, dependable flow of revenue and forced securities houses to forage for new business. Morgan Stanley, which now executed block trades for institutions, lobbied hard against the measure.
chapter: 29. Samurai