Topic_1_E1 - Topic 1 Exercise 1 Investment Setting How...

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Topic 1 Exercise 1 Investment Setting How corrupt is Wall Street? New York State Attorney General Eliot Spitzer and the Securities and Exchange Commission have launched probes of practices at Wall Street firms and the Justice Department is considering an inquiry of its own. The widening scandal is reminiscent of Michael R. Milken’s junk-bond schemes in the 1980’s, the Prudential Securities limited- partnership debacle in the early ‘90’s and the price-fixing on the NASDAQ later in the decade. Many more individuals lost money in this uproar over the relationship between analysts and their investment-banking colleagues. The dramatic fall in share prices of many highly-touted stocks and the failure of analysts to make correct calls on companies have fostered an environment of doubt about the integrity of analysts. The cover story of BusinessWeek for May 23, 2002, “How Corrupt is Wall Street,” addresses issues related to the current investment environment.
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This note was uploaded on 10/28/2009 for the course MBA MBA608 taught by Professor Martin during the Spring '09 term at Beirut Arab University.

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Topic_1_E1 - Topic 1 Exercise 1 Investment Setting How...

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