Publications
Publications
- October 1992 (Revised December 1992)
- HBS Case Collection
Salomon and the Treasury Securities Auction: 1992 Update
By: Dwight B. Crane
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
Citation
Crane, Dwight B. "Salomon and the Treasury Securities Auction: 1992 Update." Harvard Business School Supplement 293-057, October 1992. (Revised December 1992.)