Word: kidder
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...Harvard Business School graduate was fired by the Wall street investment firm Kidder Peabody & Co. for allegedly participating in fradulent trading designed to inflate the company's profits and his bonus...
...Kidder said the scam involved "a large number of phantom trades" entered over more than a year...
...Kidder officials emphasized that no customers lost money in the trades, and Kidder Chair and Chief Executive Michael Carpenter told a press conference called the case an isolated incident...
...chair of Kidder's parent company, General Electric, acknowledged the episode as an embarrassment...
...Kidder is continuing to investigate the matter and has notified the Securities and Exchange Commission as well as the New York Stock Exchange...