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To: willcousa who wrote (11933)9/25/2001 9:15:00 AM
From: John F Beule  Read Replies (2) | Respond to of 12823
 
Agreed, although that's expected from that group. They have, and always will be that way because they are only interested in raising capital for themselves, not the retail investor. Somewhere down the line that got confused to mean they were out for everybody's best interest, which isn't true.

This is how it works. "Hey Joe, we want to do a secondary for your company." "Well Frank, this investment house over here is willing to do that as well, plus incentives." "I'll tell you what Joe, we'll put an 'aggressive buy' out on your company plus incentives if you give us your business."
No, Frank, we'd rather not." "Ok Joe, your decision." Next week Joe's company downgrades the company.
It's all a big game, and we look at the Houses all all-knowing, which they aren't and never have been.

Investment Banker...now that's an oxymoron!

Best,

John