This document summarizes the unethical practices of Wall Street banks over 15 years involving tech stock ratings, mortgage securities, and the global financial crisis. It shows analysts pressuring others to rate losing tech stocks as "strong buys" for commissions. Later, risky mortgages were bundled and sold without proper due diligence to maximize profits. Credit default swaps were also sold despite knowing defaults were coming. The crisis resulted in bailouts benefiting the same banks, allowing more conservative banks to be acquired. Throughout, compliance and risk departments are ignored for the sake of profits.
7. Brokerage Branch of same Wall Street Bank
Our firm rates these
tech stocks a strong
buy, we need to get
on the horn and sell
these bad boys......
there's also a 15%
commission!!!!