You Wash My Hand and I'll Wash Yours

Reply Mon 18 Nov, 2002 10:24 am
As reported on CNN this morning by Andy Servwer of Fortune Magazine:

It's a nightmare. But it is a story that people outside in the rest of the country can understand, because it involves malfeasance, skullduggery, bad stuff by people on Wall Street. This is how it works, Salomon Smith Barney analysts Jack Grubman covered AT&T, and he raised the recommendation on AT&T's stock, so that the head of CitiGroup, Sandy Weill, could curry favor with the head of AT&T Mike Armstrong, and then, in return, Sandy Weill, CitiGroup, made a donation to a nursery school to help get Grubman's kid in.

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Reply Mon 18 Nov, 2002 10:28 am
Well, at least he acted for the greater good of the public . . .

Sheesh . . .
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