Surprises in Store for 2004
18. Freddie Mac's (FRE) former executives are jailed, precipitating more restrictive rules governing derivative accounting at government-sponsored agencies and at other financial institutions. Rudy Giuliani is appointed FRE's chairman.
19. Bernie Ebbers, Dennis Kozlowski and Scott Sullivan receive maximum-length jail sentences.
21. The New York Stock Exchange, in a stunning reversal , goes fully electronic by year end. John Reed remains as chairman and orchestrates the transformation. Goldman Sachs (GS) takes a $6.7 billion goodwill impairment charge off its 2000 acquisition of Spear Leeds, and LaBranche (LAB) liquidates its assets.22. Henry Blodgett is hired as a research analyst by a second-tier Wall Street firm. 23. There are no major terrorist acts in the U.S. and limited disturbances outside our country during the year.
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