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Author: sonar69 Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 36696  
Subject: Were Shocked, shocked Date: 8/4/2001 6:49 PM
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This was posted on the CREE board slowwavesleep

from a piece in today's NYT on the SEC's investigation of analysts at nine major brokerage firms:

The commission also found that three of these analysts executed trades for their own accounts that were contrary to
recommendations they made to the public. One analyst sold a security short while advising the firm's clients that the
company was a buy.

...More than one-quarter of the 57 analysts reviewed had made pre-initial public offering investments in companies they
later followed, initiating their coverage with a buy recommendation

....Representative Richard H. Baker, Republican of Louisiana, called the most recent testimony very disturbing. "It has
established in my mind that concerns about the bedrock of ethical conduct on Wall Street are totally justifiable,"
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