A federal appeals panel ruled this past month that a class-action lawsuit against investment banks over their role as advisers to Enron cannot go ahead. Personally I feel that class-action suits are a grand ole waste of time that enrich lawyers and leave participants with pennies on the dollar. However, this case sets a very […]
I would like to draw attention to question #22 in our article Help Wanted…”Is any of your compensation based on selling product? Explain?” In 2004, the Securities and Exchange Commission put foreword a rule change that would help satisfy its mission to “protect investors and maintain fair, orderly and efficient markets,” and was dubbed the […]
In my opinion, they don’t fear God; they don’t believe in karma; but according to their new advertising campaign they are “World Wise,” whatever that means. Morgan Stanley has frequently been in my crosshairs here in the Markowski Monthly and on the radio show, and I have used various colorful adjectives to describe my feelings […]
On February 13th the Bank of America Corporation began to offer credit cards to customers without Social Security numbers (illegal immigrants). File this one under slippery slope. For year’s banks all across the country have been offering checking accounts and mortgages to “undocumented immigrants.” Credit cards were a natural progression of business as usual. The […]
I am no mathematics expert, (I have made fun of my lack of talent on these pages and on the show) but at least I can do basic algebra. It turns out that “the smartest guys in the room,” some of Wall Street’s biggest brokerage firms cannot even do that. Judith Burns of the Wall […]
In an unfortunate trend that we are witnessing more and more frequently is the misuse of the radio airwaves to sell penny stocks, annuities and other high commission low-value investment products or once-in-a lifetime business deals. In a Wall Street Journal article by Jennifer Levitz she interviews Rick Santos, Manager of WLQY AM in Miami, […]
My son Stephen is quite fascinated about how Santa Claus keeps and maintains his naughty and nice list. I don’t know whether he is looking for loopholes in the deal or is genuinely concerned about his status for December 25th. What I do know is that I would like to thank Santa for making it […]
The ABC Network has a new show coming out this winter entitled Daybreak. The promo for the show from ABC’s website states… “Detective Brett Hopper’s life takes an unexplained detour when he’s charged with killing a district attorney, discovers his loved ones are in danger and that he’s being framed — and forced to relive […]
Hollywood has taken great liberties and made a great deal of money in its portrayal of the “Wall ,Street Master of the Universe Tycoon” character. There was Richard Gere playing Edward Lewis in the film Pretty Woman, (a Disney film about a hooker…Gee, it’s too bad and a wonder they didn’t make an attraction about […]
ANNUITY SALES In March of 2005 in our article The Perfect Mark we chronicled two cases of banks taking advantage of senior citizens through the use of local branches and tellers. The scam perpetrated by Citizens Bank was as dubious as they come. Tellers at the bank earned compensation on a point system by referring […]