Richard Scrushy the ex-CEO of HealthSouth, (aka the man who got away with a $2.7 billion dollar fraud) is being accused of reneging on a deal where he promised a Birmingham, Alabama reporter and a local minister $150,000 to help push jurors to find him innocent. This past June we reported how Scrushy manipulated the […]
In a stunning announcement which will consolidate power on Wall Street, Citigroup, Merrill Lynch, Morgan Stanley, CSFB, UBS Paine Weber, and Goldman Sachs have announced that they are combining their client management divisions (brokerage) under the leadership of Ernst Stavro Blofeld. Blofeld is the ex-CEO of the now defunct SPECTRE organization (Special Executor for Counter […]
I recently was invited to a steak dinner at the local country club by an individual who stated in his invite he was a “Wealth Management Expert (WME)”, “Certified Senior Advisor (CSA)” and “Certified in Long-Term Care (CLTC).” According to the mass-mailed cheaply printed invite, where they misspelled my last name, “I was now afforded […]
H&R Block is in hot water once again. The biggest tax preparer in the United States has been ordered to pay a $62.5 million to settle various class-action law suits that allege they charged mafia-like usurious interest rates on loans to customers awaiting tax returns. The settlement involves about 8 million customers in over 26 […]
“If you would like to beat your broker with a stick press one.” The NASD has finally started an investigation into the infamous Merrill Lynch customer call centers. We warned everybody about these houses of horror five years ago when Merrill the Bull started rounding up all its POOR customers and herded them off to […]
In a painful reality check for victimized investors looking to recoup some of their losses via securities litigation, the U.S. Chamber of Commerce stated that forty percent of institutional investors reap gains as a result of securities fraud litigation, but undiversified small investors recover only TWO CENTS of every dollar lost to fraud. Anjan V. […]
Ned Ryerson: Do you have life insurance, Phil? Cause if you do, I bet you could use more-who couldn’t?-but I got a feeling you don’t have any. Am I right? Phil Connors: You know Ned, I’d love to talk to you but I really have to… Ned Ryerson: That’s okay. I’ll walk with you. When […]
I usually get a kick out of the ridiculous advertising and marketing Wall Street uses to lure unsuspecting victims in. However, the ad campaign used by Morgan Stanley over the past two years makes my skin crawl. Whether it is…the ad with the actor playing the advisor who gives the ridiculous speech at his client’s […]
“Would you go to a dentist whose teeth were rotted and black?” Unless you were a recent contestant on Fear Factor and revel in consuming insects or rotten food, your answer, I assume, would be in the negative. Using the same logic or common sense, I am perplexed, confused, and bewildered at why so many […]
Morgan Stanley under their new Czar John Mack announced that it will be slashing 10% of its lowest producing brokers from its force of about 10,000. Morgan Stanley stated that it has been struggling to increase the size and productivity of its brokerage force and has decided to enforce the less is more principle and […]