| HBS Case Collection
(Revised December 1992)
Salomon and the Treasury Securities Auction: 1992 Update
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 Services Industry;