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The California Public Employees’ Retirement System (CaIPERS) has positioned itself as the premier champion of investor rights, regularly singling out bad managers at some of the nation’s largest companies in its annual corporate-governance focus lists. And with $153 billion under management, Wall Street tends to listen when CalPERS speaks out. But the country’s largest pension fund has never taken on as big a fish as it did Dec. 16, when it filed a class action against the New York Stock Exchange and seven of its member firms. CalPERS’ suit charges the NYSE and specialist firms with fraud, alleging that the exchange skirted its regulatory duties and allowed its members to trade stocks at the expense of investors.
The move is a major slap in the face for the NYSE’s recently appointed interim Chairman John Reed. The former Citibank chairman and CEO came on board in September after the exchange’s longtime head, Richar
A. its reliance on specialist firms
B. its system of matching traders
C. its automated exchange
D. its violation of investors' interests
William Appleton, author of a recent book entitled Fathers and Daughters, believes that it is a woman’s relationship with her father (1) decides how successful she will be in her (2) life. According to Appleton there are three important steps a girl must (3) in her relationship with Daddy.
The (4) is the "little girl" stage in which the daughter loves and idolizes her father (5) he were a god or hero without (6) And her father loves his daughter (7) blindly, seeing her as an "oasis of smiles"in a hard, cold world. Then comes the second stage. It starts during adolescence and (8) for many years. Here, the little girl begins to rebel against Daddy and (9) his authority. He reacts with anger and (10)
And the final stage comes (11) a woman reaches the age of about thirty. At this time ,the daughter sees her father not-as a hero (12) as a fool, but learns t
A. who
B. they
C. that
D. which
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