There are some things that even Eliot Spitzer can't change about the way Wall Street does business.To settle charges by the New York State Attorney General that Merrill Lynch's analysts misled investors with bullish stock ratings on shaky companies, the firm agreed on Tuesday to pay $100 million and change the way it pays its stock analysts. Now, Spitzer, in his campaign to weed out conflicts of interest in Wall Street research, is going after other firms, including Morgan Stanley ( APF) and Citigroup's ( C) Salomon Smith Barney. Hopefully, the attorney general's crusade will force the industry to correct these conflicts and restore some investor confidence in the country's financial system. At the very least, individual investors will be more aware of the conflicts that exist in this industry. But research and investment banking divisions at full service financial firms might be too intertwined to extricate. Here are some things that Merrill Lynch's settlement doesn't change. Analysts will still have some role in drumming up banking business. Although Merrill Lynch ( MER)didn't admit any wrongdoing, the firm has agreed to several measures to detach research from investment banking activities. Merrill will separate how it pays analysts from its banking business, create a committee to review new research coverage and changes in stock recommendations, and appoint someone to monitor compliance with these reforms.