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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 233.23

+1.8%

Nov 28 12:59 PM EST

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To: H James Morris who wrote (133031)	10/21/2001 9:11:15 AM
From: Glenn D. Rudolph	Read Replies (1) of 164684

Credit Suisse First Boston has approached US securities regulators to try to reach a settlement in the investigation into the investment bank's allocations of shares in high-technology initial public offerings. If they are "innocent" they should not want to settle. I know settleing is less expensive but only if one is guilty. John Mack, new chief executive, has indicated his intention to tighten up the bank's internal controls and rebuild its reputation. This large firm had loose internal controls? Although CSFB is at the centre of the inquiry, other banks such as Goldman Sachs and Morgan Stanley have also come under scrutiny. It seems Morgan Stanley is always defending themselves about some illegal activity. I believe I will buy them a book on simple business law and ethics and have Amazon ship it to their headquarters. "What the SEC needs from this case is an opportunity to create some standards in an area where there are none," said Richard Phillips, senior partner at Kirkpatrick & Lockhart, the San Francisco law firm. There are no standards for IPO allocation????

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