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Crapshoot Investing: How Tech-Savvy Traders and Clueless Regulators Turned the Stock Market into a Casino by Jim McTague

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11. Busted!

The 1970 fiasco on Wall Street reverberated along Pennsylvania Avenue in Washington, DC, riling one of the most civic-minded, incorruptible, unassuming persons ever to occupy a seat in Congress—Representative John E. Moss of California. If you’ve never heard of him, you’re forgiven. He’s one of those great, influential, historical figures who slip between the cracks. Perhaps it’s because he lacked flamboyance and was somewhat of a grind. When Moss passed away in 1997, the New York Times led its obituary with this left-handed compliment: “For a man who was variously described as dull, grave, quiet, humorless, hard-working, and plodding, Mr. Moss, a Democrat, left a surprisingly eye-catching legislative legacy.”1

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