By Michael Lewis
The time was once the Eighties. where was once Wall highway. the sport used to be known as Liar’s Poker.
Michael Lewis used to be clean out of Princeton and the London university of Economics whilst he landed a task at Salomon Brothers, one in every of Wall Street’s premiere funding agencies. in the course of the subsequent 3 years, Lewis rose from callow trainee to bond salesman, raking in thousands for the company and profiting from a modern day gold rush.
Liar’s Poker is the end result of these heady, frenzied years—a behind-the-scenes examine a special and turbulent time in American company. From the frat-boy camaraderie of the forty-first-floor buying and selling room to the killer intuition that made formidable younger males gamble every thing on a high-stakes online game of bluffing and deception, this is Michael Lewis’s figuring out and hilarious insider’s account of an extraordinary period of greed, gluttony, and outrageous fortune.
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Subject to statutory restrictions, the parties are free to make a contract on any terms they choose. Collective bargaining contracts govern the rights and obligations of employers and employees subject to these contracts. Under collective bargaining, representatives of the employees bargain with a single employer or a group of employers for an agreement on wages, hours, and working conditions. The agreement worked out by the representatives of the employees, usually union officials, is generally subject to a ratification vote by the employees.
This motive or purpose does not justify maintaining a patrol in front of the plaintiff’s premises, as a means of carrying out their conspiracy. A combination among persons merely to regulate their own conduct is within allowable competition, and is lawful, although others may be indirectly affected thereby. But a combination to do injurious acts expressly directed to another, by way of intimidation or constraint, either of himself or of persons employed or seeking to be employed by him, is outside of allowable competition, and is unlawful….
The employer group of masters asked the jury to establish the principle that the strike of the guild members was a criminal conspiracy in restraint of trade. The cordwainers were charged with (1) mutually agreeing to refuse to work for an employer who paid less than a fixed rate (which was higher than what had customarily been paid), (2) agreeing to try to prevent other craftsmen from working except at this rate, and (3) agreeing not to work for anyone who employed a cordwainer who had broken the guild’s rules.