Oh my.

I have no idea the implication but for those of you around a decade ago you know what this parallels... Eliot Spitzer made his career on almost the same exact thing a decade ago.  Investment banks bringing product (IPOs) public, their analysts cheerleading the stocks to the public while writing internal emails about how the companies were complete trash.

Well this London based VP looks like the sacrificial lamb.

Fascinating to see John Paulson's firm involved as well...

Full pdf file of SEC complaint here.