the u.s. economy, which used to be the envy of the world is in the most serious trouble since the great depression. inflation is rising, standard of living is declining. tremendous inflation and not much growth. the country was not in a great depression but the united states is in the dumps. wall street was cold, gray, wet, and miserable. there was no comfort to be found outside for investors there was not much inside. the tickers carried almost nothing but bad news. we would have a terrible decade for investing. people were skeptical of the stock market. it was a sleepy wall street. most economists expect a serious recession with at least 2 million more americans losing their jobs. regret to say we are in the worst economic mess since the great depression. from the first moment of his presidency, president reagan let him know that his top priority is the nation s economy. i put a freeze on pending regulations of the task force under vice president bush to revie
Profits. he did it by getting advance knowledge of 54 pending takeovers and from a phone booth he would call an accomplice in the bahamas would buy stocks in the name of two dummy corporations which levine set up in panama. this is the first time they ve been able to nail down insider trading by one of wall street s big dealmakers. someone with a $1 million a year salary, apparently not enough. insider trading could become wall street s watergate. plea bargaining is underway with dennis levine. authorities might be able to develop a list of new suspects. we saw the investigation. once his lawyer advised him to cooperate, he would give you the information. it is just another deal to him point i think the judgment clear that he wanted to give mr. levine a heavier sentence except for the cooperation. dennis levine was one guy doing insider trading and that is not something new, but what he did was lead time in boesky.
And paperless society and do we want one? these are the social questions scientists say society should answer. and money matters, wall street. leaping stocks have investors jumping. we will turn the ball loose. one of the great things is we can seek profit. is money the number one goal? you have 29-year-old making $1 million a year. if you have plastic money there is nothing holding you back. history will prove the bakers were honest people. insider trading could become wall street s watergate. what we call greed? we have called it success, recently.
As possible. markets work better than government control. this represents the first step in our in ministrations program of financial deregulation. finance began to get more creative and frankly more profitable. and money matters, wall street. leaping stocks have investors jumping good when the market opens, the dow jones will stand at its highest level ever. the past few months have been among the wildest in wall street s history. stock and bond prices soared in a frenzy of activities. optimist on wall street are talking about the beginnings of economic recovery. supporters of deregulation point to the stock market that a deregulated economy makes money for all. the stock market took off, and the public saw this happening and they would read about it. all sorts of people who used to have nothing to do with this