Ed Elfenbein runs the blog, Crossing Wall Street. I have known Ed since my newsletter days at Phillips Publishing. Ed is a great guy, and he just posted this piece on Ken Lay. I thought you would enjoy it.

Not all corporate executives are crooks. Overpaid, yes! Crooks, no.

Its is amazing however how executives are compensated with multiple millions in stock grants and options. The stock market is, and has always been, their cash register. Anytime they need cash, they just ring the register.

This is why it is so important that you research everything you buy. I still believe Wall Street bankers protect their investment banking business by being very kind to the companies who provide them business. This is why you will see these words on the bottom of most research reports:

(Name of Firm) does seek to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.

Now, if you see these words on the research reports of the firm you are doing business with, why on gods green earth would you let them handle your account?