RE: [CANSLIM] Re. Interesting Highlight

From: "Edward W. Gjertsen II" <ed@macktracks.com>
Subject: RE: [CANSLIM] Re. Interesting Highlight
Date: Tue, 26 Nov 2002 11:35:49 -0600

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Not to get too far off the task at hand, but this is peanuts for these
firms.  I believe there will be many more lawsuits, most likely class
action against these firms.  The government fills its coffers, the
larger firms admit no wrongdoing and it's back to business.  It makes
great headlines but does little else.  Blaming investment losses on
analysts is the equivalent of blaming your gas pedal for a speeding
ticket.  Major pension funds, insurance companies and other endowments
followed Wall Street analysts and they are one angry crowd.  The heady
days are over for now, but don't fret they'll be back, just like Haley's
Comet.   

Ed Gjertsen II
ed@macktracks.com


- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Emenar1@aol.com
Sent: Tuesday, November 26, 2002 10:58 AM
To: canslim@lists.xmission.com
Subject: [CANSLIM] Re. Interesting Highlight

Canslim's:

     I thought the members of this forum would find this interesting:


Wall St Firms May Face $500 Million Fines

NEW YORK (Reuters) - Regulators are telling Wall Street firms that they
face 
fines as high as $500 million in order to resolve analyst conflict of 
interest probes, a source familiar with the matter said on Tuesday. 

Regulators expect to tell Citigroup (NYSE:C - news) that it will have to
pay 
$500 million to end a probe into whether its analysts misled investors
with 
tainted research in order to please investment banking clients, the
source 
said. 

Regulators have told Credit Suisse First Boston that it will have to pay
$250 
million to settle the probes. Bear Stearns Cos. Inc. (NYSE:BSC - news), 
Goldman Sachs Group Inc. (NYSE:GS - news), J.P. Morgan Chase & Co.
(NYSE:JPM 
- - news), and UBS Warburg are to be told or have been told that will have
to 
pay $75 million each, the source said. Regulators will tell Thomas
Weisel 
Partners that it must pay $60 million and Morgan Stanley (NYSE:MWD -
news) 
that it must pay $50 million, the source said. 

Regulators will not require Merrill Lynch & Co. Inc. (NYSE:MER - news)
to pay 
any amounts in addition to the $100 million it has already agreed to pay
as 
the result of a settlement with regulators earlier this year, the source

said. 



jans





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