The former counsel of the Chicago Board Options Exchange, Burton R. Rissman, told me that even after it opened it still faced the stigma of the association with gambling. For example, he visited a senior official of the Federal Reserve to try to persuade her to interpret its Regulation T, which restricts the extension of credit for the purchase of stocks, in a way that would facilitate the hedging of options by the exchange's market makers. On her desk was spread out a Wall Street journal article on options, "and I could see, as I sat there, that some places were underlined in red ... Everywhere that was underlined was the word `gambling."'

Donald MacKenzie, An Engine, Not a Camera, loc. 704