Open Season on Wall Street

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As the stock market continues its free fall, Wall Street brokers are under fire. Investors who have lost everything are suing their expert advisors, claiming the analysts stood to gain from the stocks they were pushing. Meanwhile Congress and the Securities and Exchange Commission are considering regulations to protect against such abuses. Is it time to crack down or are unhappy investors just looking for scapegoats? We hear from Wall Street and Washington attorneys, a financial columnist, an investor, and a critic of the SEC. Newsmaker: High Alert in Chechnya - Yesterday was the 5th anniversary of the day separatist rebels took temporary control of the Chechen capital of Grozny. Today, Grozny is under heavy guard by Russian troops. The Boston Globe's David Filipov, who was himself stopped at one of the border checkpoints, updates us on the tense situation in a city devastated by civil war. Reporter's Notebook: Remembering Hiroshima 56 Years after the Bomb - Born in Hiroshima and educated in the US, Nikolay Palchikoff became a translator for the US army during World War II. That's how he heard about the atomic bomb on Hiroshima before the official announcement was made. He wrote about it in today's New York Times, and offers a moving personal account of the horrors of nuclear war.
As the stock market continues its free fall, Wall Street brokers are under fire. Investors who have lost everything are suing their expert advisors, claiming the analysts stood to gain from the stocks they were pushing. Meanwhile Congress and the Securities and Exchange Commission are considering regulations to protect against such abuses. Is it time to crack down or are unhappy investors just looking for scapegoats? We hear from Wall Street and Washington attorneys, a financial columnist, an investor, and a critic of the SEC.
  • Newsmaker: High Alert in Chechnya - Yesterday was the 5th anniversary of the day separatist rebels took temporary control of the Chechen capital of Grozny. Today, Grozny is under heavy guard by Russian troops. The Boston Globe's David Filipov, who was himself stopped at one of the border checkpoints, updates us on the tense situation in a city devastated by civil war.
  • Reporter's Notebook: Remembering Hiroshima 56 Years after the Bomb - Born in Hiroshima and educated in the US, Nikolay Palchikoff became a translator for the US army during World War II. That's how he heard about the atomic bomb on Hiroshima before the official announcement was made. He wrote about it in today's New York Times, and offers a moving personal account of the horrors of nuclear war.

The Boston Globe

Competitive Enterprise Institute

Los Angeles Business Journal

Merrill Lynch

Morgan Stanley Dean Witter

National Association of Securities Dealers

The Pied Pipers of Wall Street

Securities Exchange Commission

Securities Industry Association

New York Times

Credits

Host:

Warren Olney