What makes the SSB-WorldCom deals illegal

Salomon Smith Barney sold the CEO of WorldCom lots of IPO shares at a low price. The CEO made lots of money. Technically, that’s a bribe to your customer. But then, so is every free offer, or cross-sale. What makes the SSB-WorldCom deals illegal, this article argues, is that they’re so BIG, and they’re made of OTHER people’s money.