Did Wall Street firms supply investors with awful research calls because their analysts were clueless, or because the firms were trying to curry favor with investment-banking clients?
That's been the PR dilemma facing the big Wall Street firms that are still ensnared in the seemingly interminable stock analyst research scandal.
For the firms, it boils down to: Are we dumb or are we dishonest?
Yet Jack Grubman, former Salomon Smith Barney star telecom analyst, doesn't seem to like the choice. He ...