The importance of the lateral parietal cortex for memory processes, particularly successful retrieval, has been rediscovered by functional neuroimaging findings, which more frequently implicate lateral parietal cortex in recognition memory than other brain areas generally recognized as key components for memory, including temporal lobe regions (Simons and Mayes, 2008). Researchers, however, are puzzled by the exact meaning of this contribution because lesion studies indicate that the lateral parietal cortex, while activated during conscious item recollection, is not necessary for successful retrieval (Cabeza, 2008; Simons et al., 2008). If parietal ERP old/new effects are the electrophysiologic correlate of the subjective experience of recollection (Ally et al., 2008), preserved old/new effects in schizophrenia for correct trials may come as less of a surprise. On the other hand, Cabeza (2008) has proposed that the contributions of dorsal and ventral regions of the parietal cortex can be dissociated on the basis of top-down (dorsal) and bottom-up (ventral) attentional processes. Following this distinction, our findings of largely intact late old/new source effects over mid-parietal sites but weakened old/new source effects over inferior lateral parietal sites