Trying to Build a Wall on Wall Street

How far will New York Attorney General Eliot Spitzer be able to separate research analysts and investment bankers?

Here's some good news for investors: The war on bad Wall Street research is picking up steam. New York State Attorney General Eliot Spitzer has convinced Merrill Lynch and securities industry regulators that they must do more to clean up stock analysts' acts. As a result, America's No. 1 brokerage plans to go substantially beyond rules drafted by the National Association of Securities Dealers and the New York Stock Exchange to rein in its analysts.

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