The securities house has already agreed to some changes in stock research procedures, but Spitzer wants Merrill to admit previous wrongdoing and create an investor restitution fund.
The Attorney General released a series of e-mails last week that showed that Merrill analysts privately disparaging as 'shit' companies they were recommending to investors.
Spitzer recently completed a 10 month investigation into Merrill's stock research procedures. He is in a good positon to know if there are any further 'smoking guns'.
Merrill Lynch Threatened
Eliot Spitzer, the New York State Attorney General at the centre of the Wall Street research analysts probe, has now threatened Merrill Lynch with further embarrassing disclosures unless the firm gives ground in negotiations to settle alleged conflict of interest claims.
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