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Microcap & Penny Stocks : Rat dog micro-cap picks--now moderated -- Ignore unavailable to you. Want to Upgrade?

To: xcr600 who wrote (400)	3/15/2004 4:50:29 PM
From: Bucky Katt	Respond to of 1338

Safeco (SAFC) is selling part of itself. That makes 2 of our 9-11 picks bought in one day! At least I am holding 1 of them.... (insurance was one of our play picks for those that may not remember)

To: xcr600 who wrote (400)	3/15/2004 4:53:08 PM
From: Bucky Katt	Respond to of 1338

For some PPI fun, take a look at this Rube Goldberg bunch of complete bs> imf.org

To: xcr600 who wrote (400)	3/15/2004 8:10:11 PM
From: Bucky Katt	Respond to of 1338

New York Attorney General Eliot Spitzer announced Monday a settlement agreement with Bank of America Corp. and FleetBoston Financial Corp. related to their roles in the mutual-fund scandal. The SEC also announced a planned settlement with Bank of America and FleetBoston. Bank of America will pay $250 million in restitution and $125 million in penalties, and FleetBoston will pay $70 million in restitution and $70 million in penalties. The Bank of America-FleetBoston settlement is the fourth thus far in the mutual-fund probe that began six months ago. Thus far, firms have now paid $1.65 billion in settlements, compared with $1.4 billion in last year's settlement with investment banks over research conflicts. In a separate agreement with Mr. Spitzer's office, both banks agreed to reduce the fees they charge investors by $160 million over a five-year period. The settlements are the largest to date in the fund probe. If approved by the five-member SEC, Bank of America would pay a $125 million penalty and return $250 million of alleged ill-gotten gains. Funds would be distributed to mutual funds and shareholders allegedly harmed by the trading. The deal also calls for Bank of America to leave the securities-clearing business by year-end, and to replace trustees for its Nations Funds within one year. Bank of America didn't admit to or deny the SEC's claims that it permitted timing in its own funds and provided help for timers, including Canary Capital, a New Jersey hedge fund, through its own broker-dealer operation. "These agreements represent Bank of America's good faith effort to resolve this matter and is in the best interests of our customers, associates and shareholders," said Kenneth D. Lewis, Bank of America chairman and chief executive. "We have consistently said that the actions of a few individuals and what occurred is not representative of the way Bank of America does business, and we have no tolerance for actions that violate our values. Throughout this process, we have cooperated fully with the investigating authorities." Bank of America plans to complete its acquisition of FleetBoston Financial in a $47 billion all-stock deal by early next month. SEC enforcement division director Stephen Cutler said in a statement announcing the settlement: "We will continue to investigate that misconduct in an effort to hold all responsible parties accountable." FleetBoston also reached an agreement in principle with the SEC in which it will pay $140 million to settle claims of trading abuses at two of its subsidiaries, Columbia Management Advisors Inc. and Columbia Funds Distributor Inc. The SEC filed a civil lawsuit in February alleging the FleetBoston subsidiaries allowed some customers to engage in timing despite its stated policy to prohibit timing, the rapid buying and selling of fund shares that can hurt long-term shareholders. Secretly preferring some customers over others has no place in the mutual-fund business, said Peter Bresnan, acting head of the SEC's Boston office. He said the proposed penalties should send a clear message that such conduct won't be tolerated.