Posts belonging to Category Wachovia
Posted by Page PerryonApril 2, 2010
Brokerage firms’ advertising portrays brokers as trusted members of the family, writes Tara Siegel Bernard in her New York Times article, “Trusted Adviser or Stock Pusher? Finance Bill May Not Settle It.” Anyone who has tried to hold a broker to a fiduciary standard of conduct, however, hears a very different response: “We are mere […]
Categories: Ameriprise, Bank of America, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, Fidelity, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, LPL Financial, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, Smart Investing Tools, SunTrust, UBS, Wachovia, Wells Fargo
Posted by Page PerryonMarch 31, 2010
Municipalities and states are finally beginning to take legal action to protect taxpayers. Many local governments sustained huge investment losses in the recent market turmoil. In certain cases, relatively unsophisticated government servants were induced to make toxic investments by savvy Wall Street financial advisers. As a result of relying on these advisers, state and local […]
Categories: Bonds, Brokerage Firms, Common Securities Broker Abuses, Derivatives, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, Wachovia
Posted by Page PerryonMarch 25, 2010
According to a recent Bloomberg National Poll, more than 50% of Americans despise Wall Street and favor punishment of the bankers who caused the worst financial crisis since the Great Depression. The majority of poll participants — 56 percent — say big financial companies are more interested in enriching themselves at the expense of ordinary […]
Categories: Ameriprise, Bank of America, Bear Stearns, Brokerage Firms, Citigroup/Smith Barney, Credit Suisse, Deutsche Bank, Fidelity, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, Legg Mason, Lehman Brothers, LPL Financial, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, Securities, Securities America, Securities/Commodities Arbitration, Securities/Commodities Litigation, State Street, SunTrust, TD Ameritrade, UBS, Wachovia, Wells Fargo
Posted by Page PerryonJanuary 24, 2010
There have been various developments over the past several weeks which investors may consider relevant in allocating their resources or evaluating alternatives that are available to them. Some of the more significant developments include, but are not limited to, the following: The markets were closed on Monday for Martin Luther King Day. On Tuesday, the […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Employment Issues, J. P. Morgan Chase, Market Developments, Smart Investing Tools, Wachovia, Wells Fargo
Posted by Page PerryonJanuary 15, 2010
How short their memories. Wall Street firms on the brink of failure until rescued by a controversial taxpayer bailout continue to show their unabashed greed by claiming entitlement to massive amounts of money earned on funds “invested” by American taxpayers. Without those bailouts, most, if not all the Wall Street firms would be bankrupt or […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Employment Issues, Goldman Sachs, J. P. Morgan Chase, Market Developments, Merrill Lynch, Morgan Stanley, Regulatory Developments, Smart Investing Tools, Wachovia, Wells Fargo
Posted by Page PerryonJanuary 10, 2010
There have been various developments over the past several weeks which investors may consider relevant in allocating their resources or evaluating alternatives that are available to them. Some of the more significant developments include, but are not limited to, the following: The Dow Jones Industrial Average opened the year at 10,428 and, on Monday, the […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Credit Suisse, Deutsche Bank, Employment Issues, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, Market Developments, Merrill Lynch, Morgan Stanley, Regulatory Developments, Smart Investing Tools, SunTrust, UBS, Wachovia, Wells Fargo
Posted by Page PerryonJanuary 4, 2010
The Wall Street Journal reports that “hundreds of businesses are fighting to recover billions of dollars tied up in frozen auction-rates securities, a year after Wall Street firms agreed to $60 billion in settlements over the collapsed market for the investments.” See “Firms Fight Banks Over Billions in Frozen Notes,” WSJ 1/2/10. While regulators stepped […]
Categories: Ameriprise, Auction Rate Securities, Bank of America, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, Fidelity, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, SunTrust, UBS, Wachovia, Wells Fargo
Posted by Page PerryonDecember 30, 2009
So many investors have lost money in investments mis-marketed under assurances the investment was “principal-protected,” or “capital guaranteed,” that the Financial Industry Regulatory Authority (FINRA) has found it necessary to issue a notice (Notice to Member 09-73) reminding brokerage firms of their sales practice duties when recommending investments such as so-called Principal Protected Notes. These […]
Categories: Bonds, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Investment Advisers, Lehman Brothers, Merrill Lynch, Morgan Stanley, Regulatory Developments, Securities, Securities/Commodities Arbitration, Smart Investing Tools, Structured Notes, UBS, Wachovia
Posted by Page PerryonJuly 29, 2009
The Securities Industry and Financial Markets Association, an important Wall Street lobbying group, has decided to support the Obama administration’s proposal to hold brokers to the same standard as a fiduciary when they provide investment advice, according to a recent report in The Wall Street Journal. While investors who sue their brokers have long argued, […]
Categories: Ameriprise, Bank of America, Bear Stearns, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Credit Suisse, Deutsche Bank, Fidelity, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, Legg Mason, Lehman Brothers, LPL Financial, Market Developments, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, SunTrust, UBS, Wachovia, Wells Fargo
Posted by Page PerryonJuly 3, 2009
Since the middle of March, Smith Barney has lost at least 650 of its approximately 14,000 financial advisors, according to Discovery Database, an industry research firm. The reasons for the Smith Barney departures have been many. First, advisors producing less than $400,000 per year received a pay cut this year and were not offered the […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Employment Issues, Investment Advisers, Merrill Lynch, Wachovia, Wells Fargo
