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Supplement
| HBS Case Collection
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1992
(Revised from original 1992 version)
Salomon and the Treasury Securities Auction: 1992 Update
by
Dwight B. Crane
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Abstract
Briefly summarizes the events that transpired after the investment bank Salomon Brothers revealed that it had repeatedly violated the rules governing the auction of new U.S. Government securities. Includes a description of the violations, the management shake-up that occurred after the firm's August 8, 1991 announcements, the regulatory response to the violations, and the recovery of the firm under the direction of interim chairman, Warren Buffett.
Keywords: Crime and Corruption;
Governing Rules, Regulations, and Reforms;
Financial Instruments;
Banking Industry;
Financial Services Industry;
United States;