Then felt I like some watcher of the skies When a new planet swims into his ken, Keats 'On First Looking into Chapman's Homer' 1817
There are times when something happens, which you know means that life will never be the same again. As the planet known as Eliot Spitzer swims into our view, we can be sure that the world of equity research is forever changed.
The arrangement that Merrill Lynch has struck with Spitzer - the New York State Attorney General - is the first act in a process of reforming the world of equity research. Where this process will end is unclear at this early stage. But I am sure it will...
