GOVERNMENT CAPTURE TIMELINE - 2004

ECONOMIC CONDITIONS: 
REGULATORY CHANGES: Basel II; SEC changes net capital rule, allowing unlimited leverage for broker-dealers and investment banks with over $5 billion in assets. Bear Stearns, Lehman Brothers, Merrill Lynch, Goldman Sachs, and Morgan Stanley all qualify; none will survive the 2008 credit crisis as independent investment banks. At their peak, leverage ratios reached as high as 39-to-1, vs the previous 12-to-1 limit.
PRESIDENT: George Bush re-elected
SECRETARY OF THE TREASURY: John Snow
SECRETARY OF STATE: Colin Powell
SECRETARY OF DEFENSE: Donald H. Rumsfeld
SUPREME COURT: 
CONGRESS: Speaker, Dennis Hastert (R) 
FEDERAL RESERVE CHAIRMAN: Alan Greenspan
NY FEDERAL RESERVE: Timothy Geithner, President
HIGHEST PAID CEO: Reuben Mark - Colgate-Palmolive 
$147,970,000
Inflation adjusted: $162,124,000
BUSINESS ROUNDTABLE: Henry McKinnell, Chairman & CEO of Pfizer, Chairman
COUNCIL ON FOREIGN RELATIONS: Peter Peterson, Chairman
KEY BANK MERGERS: New Haven Savings and Savings Bank of Manchester, Tolland Bank; North Fork Bancorporation and Trust Company of NJ; Bank of America and FleetBoston; JP Morgan Chase and Bank One; Banco Popular and Quaker City; Regions Financial and Union Planters; SunTrust and National Commerce; Wachovia and SouthTrust; Banco Santander and Abbey National Bank
KEY NON-BANK MERGERS: Royal Dutch Petroleum and Shell Transport & Trading; Cingular and AT&T Wireless; NBC and Universal; Adolph Coors and Molson; Sony buys MGM; Kmart Holding acquires Sears; Johnson & Johnson and Guidant; Symantec and Veritas Software
CORPORATE GOVERNANCE: 

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