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Pastimes : MELT-UP or MELT-DOWN: Cast your Vote
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To: J.T. who wrote (280)4/28/2002 6:48:09 PM
From: JohnG  Read Replies (1) of 361
 
JT. I didn't vote, but let me say that this business of financial institution analysts & brokers puffing POS stocks and writing internal E-mails confirming that they really think the companies are crap is serious business. One individual certanly can't take on SSB, but the 50 states attorneys generals and their state pension funds are mad as hell and looking to carve a few notches on their guns. You can imagine where this might lead -- look at the Microsoft thing -- and Microsoft has $10 billion in cash. I doubt that SSB or JP Morgan has those resources.

Clearly, much of this would generate a crisis of confidence on the part of individual investors. Of course those on SI are already totally cynical about hidden motives ofsell side analysts.
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