Mayday deregulates Wall Street commissions
Citations (1)
- The House of Morgan - An American Banking Dynasty and the whole source · open book
Brokerage commissions dropped after Mayday in 1975 and underwriting margins shrank after Rule 415 in 1982. Now trading profits plunged with the crash, creating a large contraction in Wall Street and City employment. Mergers already accounted for half of Wall Street’s profits, and with the decline of other opportunities, the attraction to such business became irresistible.
chapter: 35. Bull