LOL!!
Do you swear to tell the truth? The whole truth so help you God? <vbg>
>>Internal e-mails showed that Merrill analysts were recommending some stocks as "buys" to the public, even though they privately derided the companies.
Subsequent investigations have shown that the shoddy recommendations were not limited to Merrill Lynch. Just last week, for instance, The New York Times revealed that an analyst at Donaldson, Lufkin and Jenrette had told investors to buy stock in Lantronix, a computer network device server, after being pressured by DLJ officials eager to get Lantronix's business.
According to a memo obtained by The Times, DLJ analyst Kevin McCarthy wrote in November 2000 that investment bankers at his firm, which has since been taken over by Credit Suisse First Boston, had pushed him to write positively about Lantronix after its initial public offering fell flat.
"I put my reputation on the line for this piece" of junk, McCarthy reportedly wrote, calling his recommendation to buy "an embarrasment."
Lantronix stock, which was then selling for more than $10, has since dropped to 70 cents.<<
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