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To: Terry Maloney who wrote (205361)	11/17/2002 8:16:42 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 436258

11/17 15:32 Spitzer Says Government Must `Rip Apart' Wall Street Conflicts By Bill Murray Washington, Nov. 17 (Bloomberg) -- Government probes of Wall Street firms must ``rip apart'' a system that has allowed the investment-banking interests to influence advice to investors, New York Attorney General Eliot Spitzer said. ``We've got to make sure that retail investors get honest analysis from people whose advice is not tainted,'' Spitzer said, speaking on ABC's ``This Week'' program. ``We've got to step in and change the rules.'' quote.bloomberg.com

To: Terry Maloney who wrote (205361)	11/19/2002 6:50:46 AM
From: Knighty Tin	Read Replies (1) \| Respond to of 436258

Terry, I fear that Spitzer is just out to shake down Wall Street, not really reform it. So far, none of the remedies mentioned gets around the problems. It is just like taking a vitamin pill when you have a terminal disease. Yes, vitamins are healthy, but they don't cure many terminal diseases. With Republican control of everything, I doubt we'll see any meaningful reform until after the next stock market bubble. The Party Line seems to be that, since we haven't heard of any new scandals lately, just permutations of the old ones, they're all behind us. While doing everything possible to make certain that those in charge not only have no inclination to look under rocks, but are willing to stay away from rocks completely. The insulting appointments of tame, even wimpy, regulators, combined with Bush friendly to big business judges and tort reform means that the bull market in fraud and corruption is about to start another leg up. Of course, if Dubya really wanted to emulate Teddy Roosevelt...<g> But this guy walks loudly and carries a toothpick in the business world.