Why do people continue to listen to the "research" that comes out of Wall St? It has become obvious these companies cannot even manage themselves, why are they offering opinions on other companies' value? And why does anyone listen? It is like a 350 pound guy with a cigarette giving health advice. Their research is rife with conflicts of interest, and now they have shown they are grossly incompetent an even running their own business. Will we get to the point were a "research alert" from an I-Bank will just be ignored, and have absolutely no impact on a stock? This is what we need more of http://www.bloomberg.com/apps/news?pid=20601086&sid=a.jRC3N5zcrE&refer=news
I do not think that the SMART money pays any attention to IBanking and their "Thoughts". I know I do not. There is no "Chinese Wall" anymore. Self interest is the key for the institutions that ran Wall Street, Capitalism was not. Socialism for their club, hence the bail out of FNM/FRE where the share holders are screwed. The vail has come down from the IB world. Game over and all four corners of the the globe understand. Wall Street will not go away but will be highly damaged in reputation and image, as it is now. Not sure if "PUBLIC COMPANIES" will be attractive anymore. IMHO, PRIVATE EQUITY, PRIVATE COMPANIES and anything to do with JOINT VENTURES within that arena is going to be where money starts to focuse. Of course, only Accredited Investors can play that game. Thus, the majority of American's will not have the "Opportunity" to really grow money. They have been fucked, and I think they are waking up. Wait till they open their 401k Statements this next quarter. Can you say FUBAR