[lbo-talk] Mayday

[Doug Henwood]

By the way, today is the 30th anniversary of another Mayday, the May, 
1, 1975, deregulation of commissions on Wall Street. It was a major 
early step towards the transformation of the financial markets into 
the institutions of social discipline they became in the 1980s and 
beyond. Relationships gave way to transactions, and the old polite 
world of Galbraith's new industrial state gave way to the pitiless 
regime of Milken, Kravis, & Co.

Doug