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Article: Merrill Lynch Bowed to Enron Pressure, Senate-Probe Staffers Say.

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Knight Ridder/Tribune Business News
Article date:
July 30, 2002
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By David Ivanovich, Houston Chronicle Knight Ridder/Tribune Business News

Jul. 30--WASHINGTON--Merrill Lynch & Co. pressured a Houston analyst to leave because his rating on Enron Corp.'s stock was hurting its efforts to win investment banking business from Enron, sources say.

Staffers with the Senate's Permanent Subcommittee on Investigations said the firm caved in to pressure from Enron and compromised its investment research, all in the hopes of attracting millions of dollars in investment banking fees.

The efforts by the investment firm to woo Enron included hiding key financial details about a barge deal in Nigeria and loaning Enron ...

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