Nope. Look at the dot-com bubble and bust when in a single firm equity research pumped and investment banking got people to buy. I asked a banker this exact qu

Nope. Look at the dot-com bubble and bust when in a single firm equity research pumped and investment banking got people to buy. I asked a banker this exact question back then. All I got was flowery language of great walls and reputational damage. We all know what happened. The bubble popped. The two sides don't need to talk. The equity research is public. Incentives are such that both sides want to pump.