FREEDOM FORUM: Add a Comment

Article Image

• The Market Ticker

Oh no, we don't cheat: Goldman Sachs Group Inc. research analyst Marc Irizarry's published rating on mutual-fund manager Janus Capital Group Inc. was a lackluster "neutral" in early April 2008. But at an internal meeting that month, the analyst told dozens of Goldman's traders the stock was likely to head higher, company documents show. Nothing like selling bonds out the front door and shorting them on your prop desk, right? Oh wait, Goldman did that too! Securities laws require firms like Goldman to engage in "fair dealing with customers," and prohibit analysts from issuing opinions that are at odds with their true beliefs about a stock. Steven Strongin, Goldman's stock research chief, says no one gains an unfair advantage from its trading huddles, and that the short-term-trading ideas are not contrary to the longer-term stock forecasts in its written research. Riiiight. And I'm the Easter Bunny. The tips usually go to top clien

News Link • Global Reported By
Max 1000 chars
Tag as "Crude or Lewd"

You are free to comment on this discussion in any way you feel is appropriate. If you choose to use to use any language which our editors feel is vulgar -- by their standards -- your comment may be tagged "Crude or Lewd" and may be filtered out of the discussion by those who prefer not to read that sort of thing. If you know you have entered something which will cause your comment to be tagged, we ask that you tag it yourself to save us the time. We do encourage everyone to be civil and not make rude attacks on other people in the Forum. We don't censor out those remarks, but few people enjoy reading them and we would like participation in our Forums to be a pleasant experience for everyone. And, by concentrating on what is said instead of who is saying it, even those who may disagree with you will be more likely to consider your opinions valid.

Thank you for your cooperation!