It was May 1991. Salomon Brothers, the legendary Wall Street firm, found itself ensnared in a scandal where trader Paul Mozer had been submitting illegal bids for US Treasury Securities, attempting to corner the market by breaching the individual bidding limit. Warren Buffett, who had a $700 million investment in Salomon Brothers, stepped in to untangle the knots. The firm avoided bankruptcy and was, eventually, acquired by Travelers Group.
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