CNN Evening News for Wednesday, May 08, 2002
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(Studio: Aaron Brown) Today's jump in the stock market linked to Cisco stock noted.
(Studio: Allan Chernoff) SEC questions about how stock brokers like those at Merrill Lynch have trashed stocks while telling the public to buy examined; stock examples cited. [Merrill Lynch CEO David KOMANSKY - comments on the system.] [Former Bear Stearns banking analyst Sean RYAN - says analysts get paid to sell stocks.] [SEC chairman Harvey PITT - says there is a partnership between the government and the private sector.]
(Studio: Aaron Brown) Taped interview held with New York attorney general Eliot Spitzer about stock brokers. [SPITZER - says Merrill Lynch may have been deceiving the public about investments they were advising them to buy; says criminal conduct might be charged, but the problem is giving straight information to investors; comments on possible changes in the brokerage system; says the Merrill e-mails were "explosive."]
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