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The Go-Go Years: The Drama and Crashing Finale of Wall Street's Bullish 60s by Michael Lewis, John Brooks

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CHAPTER X

Confrontation

1

Spring of 1969—a time that now seems in some ways part of another, and a more romantic, era—was in the business world a time of Davids and Goliaths: of threatened takeovers of venerable Pan American World Airways by upstart Resorts International, for example, and of venerable Goodrich Tire and Rubber by upstart Northwest Industries. As we have seen, such brazen challenges to the long-established and mighty by the newly arrived and aggressive were made possible by a vast, if temporary, popularity in the stock market of the shares of young and fast-growing companies; whether the threatened takeovers represented, on the one hand, constructive efforts to bring legitimacy to vested power, or, on the other, irresponsible acts ...

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