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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Michael Collings who wrote (67981)	4/20/2001 1:15:13 PM
From: Real Man	Respond to of 116763

Maybe, they just fear major stampede in gold? It won't take all that much of a shift in portfolios. The dollar is dropping now and they are mega-short

To: Michael Collings who wrote (67981)	4/20/2001 1:21:40 PM
From: Alan Whirlwind	Read Replies (1) \| Respond to of 116763

They are downgrading and shorting because the miners are getting a horse$--- price for their commodity while at the same time mining out their best ore veins. But when those veins run low...

To: Michael Collings who wrote (67981)	4/20/2001 1:59:58 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 116763

A lot of the houses downgraded tech near the bottom. Just to put things in perspective.

To: Michael Collings who wrote (67981)	3/2/2002 1:00:03 AM
From: long-gone	Respond to of 116763

Does this say something about Lehman & brokerage houses in general? Get screwed by a broker & you are simply screwed? When they can prove (or even say?)their employees defrauded the public they cover nothing? Thursday February 28, 4:42 pm Eastern Time Press Release SOURCE: Duvin Cahn and Hutton Billion Dollar Lawsuit Filed Against Lehman Brothers and SG Cowen in Ohio Federal Court CLEVELAND, Feb. 28 /PRNewswire/ -- A billion dollar lawsuit was filed today in U.S. District Court against Lehman Brothers and SG Cowen Securities Corp., seeking damages for fraud, breach of fiduciary duty, negligence, breach of contract and civil conspiracy. Retired businessman Samuel Glazer, co-founder of Mr. Coffee, one of many investors cheated out of millions of dollars by Lehman Brothers, SG Cowen, and Cleveland broker Frank Gruttadauria, is seeking full restitution and $500 million in punitive damages against each defendant. According to the complaint, for more than 15 years, through greed, carelessness or both, Lehman and SG Cowen either directly caused or tolerated blatantly illegal actions by Gruttadauria, the director of Lehman's Cleveland office. That office had been owned until 2000 by SG Cowen. ``This is a case of Lehman Brothers and SG Cowen -- two of the most elite and highly regarded financial institutions in the nation -- failing to protect their clients from more than 15 years of criminal fraud, theft, embezzlement, and deception at the hands of one its most highly paid brokers,'' said Robert Duvin, attorney for Mr. Glazer with the Cleveland firm of Duvin Cahn and Hutton. ``If this could happen to an experienced investor like Mr. Glazer, it could happen to anyone who entrusts his money to a respected brokerage firm, and will further undermine public confidence in the financial markets already weakened by the Enron scandal. Lehman's and Cowen's negligence could have very serious repercussions for the entire investment industry.'' First as a Managing Director of SG Cowen's Cleveland office and then as Lehman's Cleveland Office Director, Gruttadauria systematically violated securities laws and regulations and company rules. He looted client accounts of over $100 million, falsified records, forged documents and misdirected the account statements of numerous clients. As a result, Mr. Glazer and other investors who trusted in the good names of Cowen and Lehman were defrauded of hundreds of millions of dollars. The suit asks that the two companies be held responsible for their negligence and other misconduct in failing to stop the criminal looting of Mr. Glazer's investment account. The complaint was filed in the U.S. District Court for the Northern District of Ohio Eastern Division. Copies can be obtained at ecf.ohnd.uscourts.gov . Case number 1:02CV370. biz.yahoo.com