Posted on 07/27/2007 3:16:24 PM PDT by Red in Blue PA
WASHINGTON - Conflicts of interest may still be rampant on Wall Street, with a new study showing that nearly two-thirds of investment-firm analysts received favors from executives of companies they cover and suggesting that the companies get favorable ratings in return.
The academic study published Friday outlines a culture of blatant back-scratching on Wall Street as company executives bestow professional and personal favors on analysts — putting them in touch with top executives of other companies, recommending them for a job — and their companies receive positive ratings and evade stock downgrades. At the same time, executives punish analysts for negative reports by refusing to answer their phone calls or questions.
(Excerpt) Read more at msnbc.msn.com ...
Who has the Captain Obvious pic?
LOL, love your tagline.
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