Word: meeker
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...witch hunt goes on, as burned investors and their designated protectors assign blame for the Internet bubble. Last week fresh testimony in Washington detailed the sordid ways some analysts conduct business, and more high-profile lawsuits surfaced--some naming bubble queen Mary Meeker at Morgan Stanley. There's enough indignation coursing from Main Street to Wall Street to K Street to keep the bar at full employment for decades...
...popular misconception that the Internet is hurting is all wrong. Mary Meeker is hurting; venture capitalists are hurting; Morgan Stanley is hurting - the Internet is not hurting...
...stocks went south, and the commission-taking investment bankers seemed like the only ones who'd gotten permanently rich. Wall Street watchers felt betrayed. Congress started sniffing around. FORTUNE (corporate cousin to this publication) ran a cover with a decidedly unflattering picture of Morgan Stanley interent analyst Mary Meeker, the most spectacularly fallen of the analyst stars, above the caption "Can We Ever Trust Wall Street Again...
From Michael Milken to Mary Meeker, me-first Wall Street has been billboarded for two decades. Even before that it was an open secret. The mystery is that so many are shocked--shocked!--to learn that bankers take kickbacks for allocating shares of a hot IPO, or that analysts tout stocks not for their potential but because cheery opinions help reel in underwriting fees and a monster year-end bonus...
Meanwhile, the entire analyst community is under siege, essentially charged with fueling the irrational ascent of worthless stock via questionable buy recommendations that enriched analysts and their firms. Internet pinups Meeker at Morgan Stanley and Henry Blodget at Merrill Lynch each earned about $15 million for their bullishness in 1999--while those who listened paid dearly. Now we demand accountability...