It's a concern that has crossed every restaurant-goer's mind: "Is the kitchen clean?"
The Wall St Journal reports that investors are no different. Seated in comfortable chairs, surrounded by the din of the markets and presented with a menu of potential purchases, they nevertheless fret about what goes on behind the scenes.
Last week, Wall Street's kitchen doors were thrown open by a shareholder lawsuit on a deal involving Goldman Sachs Group Inc. and Morgan Stanley : the $21.1 billion sale of the energy giant El Paso Corp. to Kinder Morgan Inc., a pipeline operator.
The resulting sight was less than appetizing. Leo Strine, Delaware's top business court judge, found a process riven with conflicts of interests and half-truths that runs counter to banks' constant refrains of being all about clients. Mr. Strine declined to block the deal.…
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