Replies to post #36848 on Biotech Values

[AlpineBV_Miller]

The SEC seems to subscribe to the dubious notion that an investment bank's analysts and bankers are separated by a Chinese Wall.

That isn't actually the primary problem. The primary problem is the connection between the analysts and the trading desks. I'd gladly give back all of what Spitzer accomplished in separating the bankers from the analysts if I could get separation between analysts and the trading desk.

That relationship is far more insidious and is truly hidden to most investors. The conflict between analysts and bankers was only a surprise to people who weren't paying much attention.