This was posted on the CREE board slowwavesleephttp://fireboards.fool.com/Message.asp?mid=15482530from 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," http://www.nytimes.com/2001/08/01/business/01PLAC.html
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