🚀 go-pugleaf

On Thu, 18 Jul 2002 18:19:13 -0400, "Mark Probert"
<mark_probertREMOVEGARBAGE@hotmail.com> wrote:

>BTW, I am looking for the actual date that the SEC dropped the
>investigation, not just some statement that says 'last year.' I have this
>problem of liking specifics...
>
>

Hmmmm, you may like specifics, but with your reading abilities that
must make it terribly difficult for you.  So here is an extract from
the URL:(note the first sentence of the second paragraph)

"....Such alleged IPO spinning where securities firms silently
allocate chunks of hot new stocks to the personal brokerage accounts
they hold for corporate executives was temporarily rooted out four
years ago, when regulators investigated the practice after disclosures
by The Wall Street Journal.  

        But regulators never brought any charges the SEC ended its
initial investigation last year, said people familiar with the matter
and spinning revived in a big way during the later part of the
technology-stock bubble. Getting IPO shares during the dot-com boom
was akin to being handed a windfall, on paper at least. Thus, it was
very difficult for most investors to get shares. Wall Street firms,
which have great leeway in deciding who gets the shares, generally
reserved much of the stock for their most-favored customers, typically
wealthy investors and big mutual funds." 

Monte
"Today's public figures can no longer write their own speeches or books,
 and there is some evidence that they can't read them either." ---Gore Vidal