INDEX

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Aetna Life Insurance

“Guaranteed Equity Management” (GEM) strategy

A.G. Becker

Agriculture Department

AIG

Allstate

American Banker

American Bankers Association

American Law Institute

American Stock Exchange (Amex)

Black Monday and

options trading

American Stock Exchange index

Anderson, Roger E.

Annunzio, Frank

antitrust

apartheid divestment

Apple Computer

arbitrage. See also index arbitrage

Arizona Stock Exchange

asbestos lawsuits

Asian markets

AT&T pension fund

audit trail rules

Australian market

automated trading

Automobile Club of Southern California pension fund

Bache Halsey Stuart Shields

Bacot, J. Carter

bailouts

Baker, Howard H., Jr.

Baker, James A., III

Balles, John J.

bank holding companies

bank holiday

banking crisis of 1984

Bank of America

Bank of England

Bank of New York

bank regulators. See also regulatory fragmentation; and specific agencies

banks. See also specific banks

Black Monday and

brokerage firms and

commodities market and

deregulation and

Drysdale default and

futures markets and

Glass-Steagall and

in-house traders

interest rates and

loans sold to other banks

mergers and

Mexican debt crisis and

new businesses and

payment system and

Penn Square crisis and

runs on

S&P 500 index futures and

silver crisis and

size of

swaps and

bargain hunters

Barron’s

Batten, William M. “Mil”

Bear, Stearns and Company

bear markets

of 1973–74

of 1981–82

of 1987

behavioral economics

Bendix

beta books

Binns, W. Gordon, Jr.

Birnbaum, Robert J.

Black Monday (October 19, 1987)

Brady Commission report on

catastrophe averted by luck

Chicago markets and

days following

efficient, rational markets and

events of

institutional investors and

Lehman Monday of 2008 vs.

lessons and aftermath of

October selling leading to

President’s Working Group and

Reagan and

record decline of

regulatory borders and

roots of

settlements after

trading halts and

Tuesday free-fall and turnaround

week following

blue-chip stocks

Boesky, Ivan F.

Bohemian Grove

bond market

Bottum, Edward S.

Brady, Nicholas F.

Brady Commission Report

British Petroleum

broad-based index options

Brock, William

Brodsky, Joan

Brodsky, William J.

bull market of 1980s

Bush, George H. W.

Butcher, Willard C.

California pension funds

Carey, Hugh

Carter, Jimmy

CBOE 100 option

CBT index

certificates of deposit (CDs)

Charles Schwab and Company

Chase Manhattan Bank

Chicago Board of Trade (CBT)

Black Monday and

capital rules and

CFTC and

corruption scandal

financial futures and

Ginnie Mae futures and

Ginnie Mae options and

Johnson and

merges with Merc

MMI futures and

New Products Committee

Reagan and

S&P 500 futures and

Shad-Johnson Accord and

stock index futures and

swaps and

time-stamping and

Treasury futures and

Chicago Board of Trade Clearing Corporation

Chicago Board Options Exchange (CBOE)

Black Monday and

Brodsky study of

First Options and

S&P 100 option (OEX) and

S&P 500 option and

stock options and

trading halt

witching hours and

Chicago commodity markets. See also Chicago Board of Trade; Chicago Mercantile Exchange; financial futures; financial options; and specific products

audit trails and

basic facts of

Black Monday and

CFTC and

Continental Illinois and

federal investigation of

financial futures debate and

New York vs.

options vs. futures and

Reagan and

securities firms and banks enter

Shad-Johnson Accord and

silver and

stock market vs. futures rules and

stock prices and

tied with NYSE through arbitrage

trading halts and

Chicago Mercantile Exchange (Merc)

Binns at GM pension fund and

Black Monday and

Brady report and

Brodsky heads

capital rules and

CBT absorbed by

CFTC and

Chicago banks and

circuit breakers, and NYSE

clearinghouses and

Continental Illinois and

corruption scandal and

drop of January 1987 and

financial futures introduced by

foreign currency futures and

influence of, on regulators

Melamed heads

onion futures scandal

portfolio insurance and

settlement schedules and

Shad-Johnson Accord and

stock index futures and

stock index futures and, single industries

swaps and

time-stamping and

Treasury futures and

Chicago Mercantile Exchange (CME) Center

Chicago school of economics

Chicago Tribune

Citicorp

Citigroup

clearinghouses

Clowes, Michael

Coastal Corporation

Coldwell Banker

commissions, fixed

Committee on Investment of Employee Benefit Assets (CIEBA)

Commodity Exchange Authority

Commodity Futures Trading Commission (CFTC)

audit trail and

Black Monday and

Boesky and

budget of

capital rules and

Chicago futures exchanges and

Chicago markets and price volatility

circuit breakers for Merc and NYSE and

Congress and

corruption scandal and

crash of 1986 and

creation of

crisis team

customer secrecy and

financial futures and

Ginnie Mae futures and

Ginnie Mae options and

Gramm heads

Johnson heads

joint report on financial futures and options markets

jurisdiction and

leverage contracts and

MMI manipulation and

NYFE and

NYSE and

off-exchange products and

Phillips heads

President’s Working Group and

program trading and

Reagan and

reauthorizations of

SEC jurisdiction vs.

settlements and

Shad-Johnson Accord and

Silver Thursday and

single-industry index futures

stock index futures and

sunshine trading and

swaps and

time-stamping and

Treasury futures and

Value Line index futures and

witching hours and

Commodity News Service (CNS)

computerization

malfunctions and

trading halts and

Conover, C. Todd

Continental Illinois National Bank

Black Monday and

Brady Report and

Chicago futures market and

Fed and

financial crisis of 2008 and lessons from

First Options and

holding company and

Mexican debt crisis and

Penn Square and

and rescue of 1984

corporate stock buy backs

Corrigan, E. Gerald “Jerry”

Council of Economic Advisers

Council of Institutional Investors

Cox, Charles C.

crashes and crises

of 1929

of 1962 (air pocket drop)

of 1970

of 1980 (see Silver Thursday)

of 1986 (September 11–12)

of 1987 (see Black Monday)

of 2008

credit default swaps

credit rating agencies

credit unions

dark pools

Dean Witter Reynolds

Debreu, Gérard

Democratic Party

deregulation

derivatives. See also financial futures; financial options; and other specific types

cash cushions and

insider trading and

SEC vs. CFTC and regulation of

systemic risk and

unregulated

Designated Order Turnaround (DOT) system

SuperDOT system

Dillon, Read and Company

Dingell, John

discount brokerages

Disney Corporation

Dole, Robert

dollar

Donovan, Tom

Dow Jones and Co.

Dow Jones Industrial Average (DJIA)

Bendix and

Black Monday and

drop of 1929 and

drop of 1968

drop of 1981

drop of 1985

drop of 1986

financial futures and

futures price vs. stock market floor

gyrations of 1983

Lehman Brothers collapse and

MMI and

program trading and

Silver Thursday and

size of, in 1987

summer of 1982 and

witching hours and

Dow Jones newswire

Drexel and Company

Drexel Burnham Lambert

Drysdale Government Securities

Dun’s Review

Dutch tulip mania

dynamic asset allocation

efficient market hypothesis

E.F. Hutton and Co.

elections

of 1980

of 1984

of 1988

electronic markets

Ellis, Hayne

endowments

Energy Department

English, Glenn

Environmental Protection Agency (EPA)

ESM Government Securities

Eurodollars

Euromoney

Farm Belt

farm commodity futures

federal budget deficits

Federal Bureau of Investigation (FBI)

Federal Deposit Insurance Corporation (FDIC)

caps on payoffs

Continental Illinois and

First Chicago and

First Options and

Glass-Steagall and

Isaac resigns

Penn Square and

S&L crisis and

state-chartered banks securities underwriting and

Federal Home Loan Bank Board

Federal Open Market Committee (FOMC)

Federal Register

Federal Reserve

aftermath of 1987 and

bank regulation by

Black Monday and

Brady Report and

Continental Illinois and

crisis team and

Drysdale default and

financial futures and

foreign currency markets and

Glass-Steagall and

Greenspan heads

interest rates and

Lehman Brothers collapse and

Mexican debt crisis and

Ohio S&L crisis and

Penn Square crisis and

President’s Working Group and

Silver Thursday and

state-chartered banks and securities underwriting and

Treasury securities market and

unified market and need to harmonize regulations among Chicago, New York, etc.

Volcker heads

Volcker resigns

Federal Reserve Bank of Chicago

Federal Reserve Bank of Cleveland

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of New York

Federal Reserve Bank of San Francisco

Federal Reserve Bank of St. Louis

Federal Savings and Loan Insurance Corporation (FSLIC)

Fedwire

feedback effect

Feldman, David P.

Fidelity Investments

financial crisis of 2008. See crash of 2008

financial futures

Black Monday and

CFTC and

commodity futures vs.

Congress and

defined

hedging and

impact on stock market

introduced

options vs.

portfolio insurance and

prices of stocks and bonds vs.

settlement and

swaps and

financial options

Black Monday and

clearinghouses

defined

options on physical commodities and

pricing services

First Boston

First Interstate Bank

First National Bank of Chicago

First Options Inc.

Five Easy Theses (Stone)

Ford, Gerald R., administration of

foreign currency futures

foreign currency markets

Fortune

foundations

free-market economics

Friedman, Milton

futures. See financial futures

Futures magazine

Gates Corporation pension funds

General Accounting Office (GAO)

General Motors (GM)

pension fund

super-voting stocks and

German interest rates

German mark

German stock market

Ginnie Mae

futures

options

Glass-Steagall Act (1933)

Glauber, Robert R.

Glickman, Dan

global financial system

gold

Goldin, Harrison J.

Goldman Sachs

Gould, George D.

Government Securities Act (1986)

Gramm, Phil

Gramm, Wendy

Granville, Joseph E.

Granville Market Letter

Great Depression

Greenberg, Alan “Ace”

greenmail

Greenspan, Alan

Hardiman, Joseph

Harris Bank and Trust

Harvard University

Business School

Hayakawa, S. I. “Sam”

hedge funds

hedging

aggregated, and risk to financial system

defined

LOR and

mortgage interest rates and

portfolio insurance and bargain hunters

Heuwetter, David

Hineman, Kalo A.

Holocaust-era claims

Home State Savings Bank

Honeywell pension fund

Hong Kong futures market

Hong Kong stock market

Hoover, Herbert

Hull, Blair

Hunt, Nelson Bunker

Hunt, William Herbert

IBM stock

Icahn, Carl

index arbitrage

Black Monday and

defined

DOT system and

futures and stock market equilibrium and

portfolio insurance and

SuperDOT system and program trading

witching hour drops and

index funds. See also specific indexes and funds

herding and

super-voting stock and

index futures

index options

individual investors

Black Monday and

DOT system and

growing invisibility of

index mutual funds

institutional investors vs.

witching hours and

inflation

insider trading

institutional investors

insurance companies

interest rate futures

interest rates

interest rate swaps

Interior Department

International Commercial Exchange (ICE)

International Monetary Fund (IMF)

International Monetary Market (IMM)

investment banks

Investment Dealers’ Digest

Iran

Iran-Contra scandal

Iran hostage crisis

Isaac, William M.

Jacobs, Bruce I.

Jacobs, Harry

Japanese banks

Japanese yen

Jarrell, Gregg

Jas. H. Oliphant and Company

Jiji newswire

Johns-Manville pension fund

Johnson, Philip

Johnson, R. Sheldon

Jones, Ed

J.P. Morgan

junk bonds

Justice Department

Kaiser Aluminum

Kansas City Board of Trade

Kaufman, Henry

Kemper Financial Services

Kennedy, John F.

Ketchum, Richard G. “Rick”

Kidder Peabody

Kirkland and Ellis

Knight Ridder newswire

Koch, Ed

Kodak stock

laissez-faire approach

Latin America

Lebeck, Warren

Lehman Brothers

Leland, Hayne E.

Leland O’Brien Rubinstein (LOR) Associates

leverage contracts

Levine, Dennis

Levitt, Arthur

Loeb, Thomas

London stock exchange

Longstreth, Bevis

Los Angeles Times

Lugar, Richard

Machold, Roland Morris

Magellan Fund

Mahlmann, Karsten “Cash”

Major Market Index (MMI)

futures

options

Manufacturers Hanover Bank

margins and margin calls

market discipline

market-on-close orders

market power

Markey, Ed

Markowitz, Harry

Martin, Preston

Martin Marietta Corporation

Maryland S&Ls

Massachusetts S&Ls

Meese, Edwin, III

Meet the Press (TV show)

Melamed, Leo

Mellon Capital

Merrill Lynch

Mexico

debt crisis

Michigan National Bank

Mid-America Club

Milken, Michael

Mnuchin, Robert

Mobil corporation

money market mutual funds

Morgan Guaranty Bank

Morgan Stanley

mortgage-backed securities

futures

Mullins, David W., Jr.

mutual funds

Nasdaq market

National Association of Cattlemen

New Deal

New Jersey Division of Investment, pension funds

New York Commodity Exchange (COMEX)

New York Futures Exchange (NYFE)

New York State insurance laws

New York Stock Exchange (“Big Board”; NYSE). See also Dow Jones Industrial Average; Standard and Poor’s 500 index; Wall Street brokerage and securities firms; and specific firms and individuals

Birnbaum heads

Black Monday

Black Monday aftermath and

Black Monday lead-up

Brodsky and

Chicago vs.

crash of 1970 and

crash of 1986

DOT system and

drop of January 1981

drop of January 1987

drop of January 1988

Drysdale and

fears of meltdown

financial futures and (see also specific products)

First Options and

fixed commission rates and

global financial system and

insider trading and

institutional investors and

interest rates and

leverage and scale problems

modernization and

NYFE and

one share, one vote rule and

Penn Square and

Phelan heads

populists and

private hedged funds and

problems of 1982 and

program trading and

Reagan and

rules of

SEC vs. CFTC and

settlement schedules

Silver Thursday and

stock prices and

super-voting stock and

takeovers and

trading floor and

trading halts and

trading volume and

upstairs trading and

volatility and

witching hours and

New York Times

Nixon, Richard

North Carolina S&Ls

Northwestern University School of Law

NYSE Composite index futures

Obama, Barack

O’Brien, John

O’Brien Associates

O’Brien 5000 index

OEX (Standard & Poor’s 100 index option)

off-exchange derivatives, unregulated

Office of the Comptroller of the Currency

Ohio Deposit Guarantee Fund

Ohio S&L crisis

oil

one share, one vote rule

onion futures

Options Clearing Corporation

over-the-counter market

Pacific Stock Exchange

Paine Webber

program trading guidebook

Paris stock market

payment system (financial electronic network)

payoff liquidations by FDIC

Continental Illinois and

Penn Square and

Penn Square Bank

Pennsylvania S&Ls

pension funds

Pensions & Investment Age

Persian Gulf

Phelan, John J., Jr.

Phelan, John J., Sr.

Phillips, Susan M.

Phillips Petroleum

Pickens, T. Boone

Pitt, Harvey

portfolio insurance

precious metals

premium, defined

Presidential Task Force on Market Mechanisms

President’s Working Group on Financial Markets

Preston, Lewis T.

primary dealers, defined

program trading

proxy votes

Prudential-Bache Securities

Prudential Insurance

quantitative analysts (quants)

Quinn, Linda

Rand, Ayn

random walk method

rational investor. See efficient, rational market hypothesis

Reagan, Nancy

Reagan, Ronald

real estate services

recessions

Regan, Donald T.

regulatory fragmentation. See also bank regulators; and specific agencies

Black Monday and

Brady report on

crisis of 2008 and

derivatives and

Drysdale default and

entangled financial entities and

Glass-Steagall and

Penn Square crisis and

Reagan and

Shad-Johnson Accord and

silver Thursday and

swaps and

repo market

Republican Party

Rockefeller family

Roos, Lawrence K.

Roosevelt, Franklin D.

Rosenberg, Barr

Rosenthal, Benjamin

Rosseau, Robert

Rubin, Robert

Rubinstein, Mark

Ruder, David S.

Salomon Brothers

Sandor, Richard L.

Sarbanes, Paul

savings and loans (S&Ls)

Ohio crisis

Schwab, Charles “Chuck”

Sears

Seattle First National Bank (Seafirst)

Securities and Exchange Commission (SEC)

Black Monday and

budget cuts and

computer-driven arbitrage and

Continental Illinois and

corporate mergers and

crash of 1986 and

crash of 2008 and

crisis team

deregulation and

Drysdale and

election of 1980 and

financial futures and

fixed commissions and

Glass-Steagall and

insider trading and

jurisdiction of, vs. CFTC

mutual funds and

national market system rule and

New York office

options and

President’s Working Group and

program trading and

reform proposals and

regulatory structure and

Ruder heads

settlements and

Shad heads

Shad-Johnson Accord and

Shad resigns

Silver Thursday and

single-industry index futures and

stock index futures and

takeovers and

Treasury market and

witching hours and

Securities Industry Association

Securities Law Institute

Seevers, Gary L.

settlements

Seventh Circuit Court of Appeals

Shad, John S. R.

Shad, Pat

Shad-Johnson Accord

shadow banking system

shareholder democracy

Shearson Lehman Brothers

Shopkorn, Stanley

short selling

Silicon Valley

silver futures

Silver Thursday (1980)

Singapore market

single-industry (narrow) index futures

Skadden, Arps, Slate, Meagher and Flom

Smelcer, Wilma

Smith, Roger B.

snowball effect

Social Security commission

Solomon, Anthony

Sommer, A. A., Jr. “Al”

South Africa

South Sea Company

Soviet Union

Spear, Leeds and Kellogg

specialists

speculators

Sprague, Irvine H.

Sprinkel, Beryl

stampedes

Standard & Poor’s 100 option (OEX), offered by CBOE

Standard & Poor’s 100 index futures

price limits

Standard & Poor’s 100 index options

Standard & Poor’s 500 index

Standard & Poor’s 500 index futures (spooz)

Black Monday and

index arbitrage and

price gap between stock cash values and

price limits set

trading “at a discount” vs. “at a premium”

trading halts and

Standard & Poor’s 500 index options

Standard & Poor’s Energy Index futures

Stanford University

state-chartered banks

state insurance laws

state pension funds

St. Germain, Fernand “Fred”

stock futures

stock index futures. See also specific indexes

CFTC vs. SEC and

margins and

real-world prices vs.

stock index options. See also specific indexes

stock options

call and put, defined

defined

Stoddard, Richard

Stone, James M.

Stone, Oliver

stop-loss order

“Strategy for Limiting Portfolio Losses” (Greenebaum)

subprime lending

Summers, Lawrence

sunshine trading

SuperTrust

super-voting stock

swaps

Swiss banks

Switzerland

synthetic put option

Taiwan market

takeovers

taxes

Taylor, David G.

Texaco

Thatcher, Margaret

Theobald, Tom

Time

Tokyo stock exchange

trade deficit

trading halts

Transportation Department

Treasury bills

futures

Treasury bonds

futures

Treasury Department

bank holding companies and

Black Monday and

Brady heads

Continental Illinois and

crash of 2008 and

crisis team and

dollar and

Drysdale and

financial futures and

government bond market and

James Baker heads

Mexican debt crisis and

options and

Penn Square and

President’s Working Group and

Regan heads

Silver Thursday and

swaps and

Treasury futures and

Volcker’s threat to resign and

Treasury securities

futures

options

“Trials and Tribulations” (Shad)

uninsured deposits

U.S. attorney’s office in New York

U.S. Congress

U.S. House of Representatives

Agriculture Committee

Banking Committee

Commerce Committee

Energy and Commerce Committee

Glass-Steagall hearings

Penn Square and

Silver Thursday hearings

swaps and

Ways and Means Committee

U.S. Senate

Agriculture Committee

Banking Committee

election of 1980 and

SEC and

U.S. trade representative

University of California at Berkeley

University of Chicago

University of Minnesota

Unruh, Jesse

upstairs trading

Value Line index futures

Vanguard mutual fund family

Volcker, Paul A.

Boesky and

Continental Illinois and

Corrigan and

deregulation and

Drysdale default and

Fed Board and

financial crises and

financial futures and

foreign currency markets and

Glass-Steagall and

inflation and

James Baker and

later career of

Ohio S&L crisis and

Penn Square crisis and

resignation of

Silver Thursday and

stock index futures and

Volume Investors clearing firm

Wall Street brokerage and securities firms. See also specific crises; financial products; firms; and stock exchanges

back offices and

banks and

Black Monday and

commodity firms and

computerization and

decline of 1970s

derivatives and systemic risk

firm stock declines

fixed commission and

futures markets and

growth of

individual vs. institutional investors and

in-house traders

pension funds and

regulators and

Sears competition with

swaps and

ties with commodities market and banks

Treasury bond trading and

upstairs trading and

Wall Street Journal

Wang, Nina

Wang, Teh-huei “Teddy”

Wells Fargo Bank

Wells Fargo Investment Advisors

Williams, Harold M.

Wilshire Associates

Wilson, Woodrow

Wirth, Timothy E.

witching hours (third Friday phenomenon)

triple

Wunsch, R. Steven

Yeutter, Clayton