Category Archives: Uncategorized

Stock Prices around October 20, 1973 (The Saturday Night Massacre)

Reader Julian Silk asks what happened to indicators around the Saturday Night Massacre, when President Nixon fired the Independent Special Prosecutor Archibald Cox. The Baker, Bloom and Davis daily version of the Economic Policy Index only extends back to 1985. Here is the Nasdaq around that date. Since October 20th was a Saturday, the relevant dates are 10/19 and 10/22.



Figure 1: Nasdaq index, June 1973-January 1974.

The Nasdaq rose slightly today. The true issue is what happens as events unfold.

What Is FinCEN?

Several accounts [1] [2] [3] have noted that the Senate Intelligence Committee has requested information regarding related to President Donald Trump, his senior officials and his campaign staffers from the Treasury’s FinCEN. What is FinCEN?

It’s shortened form for “Financial Crimes Enforcement Network”.

From the official website:

The mission of the Financial Crimes Enforcement Network is to safeguard the financial system from illicit use and combat money laundering and promote national security through the collection, analysis, and dissemination of financial intelligence and strategic use of financial authorities.

For the record, the current acting director is Jamal El-Hindi (as of 2:22PM Pacific).