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

AMZN 234.37

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To: Bob Kim who wrote (141415)	4/11/2002 1:05:50 AM
From: Glenn D. Rudolph	Read Replies (1) of 164684

They are looking worse I believe: washingtonpost.com "NEW YORK, April 9 -- Former and current analysts at Merrill Lynch & Co. will be publicly interrogated in the coming months as part of an expanding state investigation into allegations that Wall Street's stock analysts misled investors to promote companies that paid fees to the investment bank, officials said today. Under an obscure provision of New York securities law, state Attorney General Eliot Spitzer will require former Merrill Lynch star Henry Blodget and other Internet analysts to testify under oath about the stark contrast between their rosy public reports on the companies and their sometimes damning private remarks. In thousands of e-mails and documents, the Merrill Lynch analysts sometimes derided as "junk" and "crap" the very stocks they were promoting with encouragement from investment-banking colleagues, according to documents delivered to court on Monday. Spitzer contends that those e-mails show that analysts, who were purported to offer independent advice, were misleading investors. John Coffee Jr., a Columbia University professor of corporate law, likened the approach to congressional hearings that are likely to serve as "ceremonial humiliation" for Merrill Lynch and other banks."

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