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  • In the 1980s, Rudy Giuliani, then the top federal prosecutor in Manhattan, led a three-year sting operation, dubbed “Operation Closing Bell,” aimed at drug trafficking on Wall Street.
  • It resulted in more than a dozen financial-firm employees, including stockbrokers and a senior partner, being rounded up on charges of illicit dealing in cocaine, including in exchange for stock.
  • Today, Wall Street has a decidedly cleaner image.

The people who run investment banks and hedge funds these days are more likely to be up late at night working than partying.

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