Wall Street banks under fire...again - papers 13 May

JUST DAYS AFTER signing on to a letter promising not to repeat the mistakes of touting stocks to investors in an unethical manner, Wall Street bank Bear Stearns has been fingered as using one of its equities analysts in a webcast to push sales of shares in a new company. The Daily Telegraph says this action directly contradicts the promises made in the recent deal between some 10 major banks and US authorities as part of the $1.4bn settlement that sought to draw a line on past activities. Using equities analysts to promote IPO offerings have been specifically banned under the ...