Tech Ticker's Sarah Lacy with contributor Henry Blodget

merkcfp says:

It makes me sick to the stomach that this Blodget guy is still even allowed to talk to the public about investing. He should be in jail, not speaking as a public figure. During his analyst/banker career, he took millions of dollars from investors for garbage teck stocks that he recommended that he knew were going to fail. Read Charles Gasparino's book called "Blood on the Street" to see what a crook this guy really is.
In 2002, then New York State Attorney General Eliot Spitzer, published Merrill Lynch e-mails in which Blodget allegedly gave assessments about stocks, which conflicted with what was publicly published. In 2003, he was charged with civil securities fraud by the U.S. Securities and Exchange Commission. He settled without admitting or denying the allegations and was subsequently banned from the securities industry for life. He paid a $2 million fine and $2 million disgorgement but kept millions more he earned in fees while promoting investments in stocks which failed.
Posted 13 months ago. ( permalink )