Banks Still Favoring IPO Clients
from the nothing's-changed dept
As we mentioned earlier today, it seems like some dot coms are starting to go public again. Despite all the anger about Wall Street analysts pumping up the stocks of companies their firm underwrote – it appears that these new IPOs are still getting that same boost. A quick look at the research on most of the recent IPOs shows that they’re often only covered by the firms that took them public. And, of course, the research is universally positive. So, as predicted, the NY State case against Merrill Lynch for just this sort of thing has done nothing to change how the analysts treat clients of their bank. They simply paid their fine and kept on promoting.