Salomon Brothers' August 1991 admission of improprieties in government securities trading led shortly afterward to the resignation of the firm's senior management.
Notes on verification
Well-documented by contemporaneous NYT reporting and Federal Reserve History archives; corroborated by multiple independent sources with consistent timeline of disclosure and executive resignations. [cascade flags: wikipedia_dropped_other_sources_exist | tier=silver indep_score=0.875 clusters=2 claim_tier=notable]
Sources
- Chapter 16 Government Securities Market Regulation: The Case of ... (seed:economics_and_business)
- https://www.nytimes.com/1991/08/19/business/salomon-brothers-scandal.html (corroboration)
- https://www.federalreservehistory.org/essays/salomon-brothers-scandal (corroboration)