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The Killing of Chief Crazy Horse is a story of envy, greed, and treachery. In the year after the Battle of the Little Big Horn, the great Oglala Sioux chief Crazy Horse and his half-starved followers finally surrendered to the U.S. Army near Camp Robinson, Nebraska. Chiefs who had already surrendered resented the favors he received in doing so. When the army asked for his help rounding up the the Nez Perces, Crazy Horse's reply was allegedly mistranslated by Frank Grouard, a scout for General George Crook. By August rumors had spread that Crazy Horse was planning another uprising. Tension continued to mount, and Crazy Horse was arrested at Fort Robinson on September 5. During a scuffle Crazy Horse was fatally wounded by a bayonet in front of several witnesses. Here the killing of Crazy Horse is viewed from three widely differing perspectives-that of Chief He Dog, the victim's friend and lifelong companion; that of William Garnett, the guide and interpreter for Lieutenant William P. Clark, on special assignment to General Crook; and that of Valentine McGillycuddy, the medical officer who attended Crazy Horse in his last hours. Their eyewitness accounts, edited and introduced by Robert A. Clark, combine to give The Killing of Chief Crazy Horse all the starkness and horror of classical tragedy.
The increasing globalization of financial markets has resulted in a substantial increase in net private capital flows to developing countries, primarily the emerging economies of Asia, Eastern Europe, and Latin America. Until recently, investors have ignored opportunities in Africa. African markets caught investors' attention in 1994 with Kenya's 179% U.S. dollar returns leading world equity markets, along with six of the world's top ten markets being in Africa. With low levels of correlation between African and developed world markets, the African exchanges represent ideal portfolio diversification opportunities. Moreover, rates of return for African investments are among the highest returns in the world, yet African nations have not attracted the foreign direct investment that is required to change their economies. Dr. Clark's research examines the nature and evolution of Africa's emerging securities markets and their role in regional economic development. He shows that the continent's trading systems represent many different trading arrangements without standardized rules and procedures. African countries continue to implement reforms to strengthen the development of financial markets, but without the appropriate market microstructure and custodial arrangements international investors will not provide African projects with the equity capital required for further development. The government's role in the regulation of developing equity markets, therefore, is a critical element to the success of the reform process. Clark argues that freeing the economies to international competition will reap significant dividends for the continent's emerging economies. As the markets evolve, structural impediments will reduce, leading to increased efficiencies and lower capital costs.