No Listings For Bank Of America, Says Realtor.com
(Blanche Evans - 05/08/2001)
Where Was The SEC?
Posted By: insider_truth - 05/09/2001 09:17 AM
I found recently that among all of the companies with large Insider trading numbers, Homestore Ranks Number 7 on the list! After the new numbers come out I would bet they move up a notch or two.
Here's a quote from Red Herring on Tech IPO's: The SEC's approach during the frenzied IPO market was not terribly effective in other ways -- to the indirect benefit of investment banks and high-tech insiders. In 1998, the commission began an investigation into spinning -- the allocation of IPO shares, under the "friends and family" category, to high-tech executives as an incentive to bring their financing business to the underwriting bank. The investigation ended almost as soon as it started, however. Wall Street firms successfully lobbied the federal regulators that they could police their own ranks and put an end to spinning by basing allocation solely on the level of commission business. "Remember that the SEC is captured by its regulatees, " says Ms. Woodward, explaining that only when the public raises hell will "something that works for [the banks] be changed."
