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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 371.65-1.1%Nov 17 4:00 PM EST

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To: TobagoJack who wrote (1277)10/21/2005 1:44:11 AM
From: Taikun  Read Replies (1) of 217847
 
Quote of the week?

"It's not often that investment banks do something out of the goodness of their hearts," said Stephen Bainbridge, a professor of corporate law at the University of California at Los Angeles law school.

Mr. Bainbridge nonetheless played down the possibility of conflicts hurting Refco or creditors. Such situations pop up often on the Street, where large banks are in the middle of a range of businesses, both as adviser and principal investor.

"In the post-Watergate era, people treat a conflict of interest as something you're guilty of," Mr. Bainbridge said, "when in fact it is just a state of being. The fact that you have a conflict of interest, doesn't mean the people doing business with you are fools. They can make an intelligent decision."

professorbainbridge.com
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