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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: LPS5 who wrote (10183)	5/7/2002 8:33:49 PM
From: TFF	Read Replies (2) of 12617

I don't think the NYAG wants to take them to court because it might bring the whole house of cards down(meaning if they press criminal charges the firms might follow the Arthur Anderson path into oblivion). I don't think that is his goal. I'm sure he doesn't want to be responsible for singlehandedly taking out Manhattan.(especially in the wake of WTC) I think his goal is to stick it to them hard and seperate research and investment banking once and for all. He knows they face lengthy class action lawsuits which will cost them enough in lost reputation and settlements. Assuming Merrill caves to his settlement demands it will be interesting to see if the other firms sign on, or wait to see what evidence NYAG uncovers. The new rules of the game will be around alot longer than the current crop of players will be.

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