Fredo, I Know It Was You
Organized financial crime is now so commonplace, we can’t avoid it.
Boogie Nights
Is the Wall Street culture really changing? We remain skeptical.
http://www.businessinsider.com/goldman-sachs-to-open-private-bank-2012-7
Life Of Reilly
Colleague Josh Brown takes aim at the Wall Street culture, and nails it.
http://blogs.wsj.com/financial-adviser/2012/07/16/investment-pros-forced-to-work-year-round/
Pony Express
This just in, investments have risk. IQ readers know we’ve been concerned about interest rate risk for more than two years.
High Noon
As more former brokers sue over deferred compensation, it appears Merrill Lynch brought a knife to a gun fight.
The Gong Show
Even if you think Merrill Lynch isn’t Bank of America, it’s still about the Clients. Not mentioned here, the Clients.
http://www.onwallstreet.com/news/merrill-lynch-gets-bullish-on-advisor-training-2679733-1.html
Undaunted Courage
The author is only pointing out what Clients already know, the Wall Street model is broken.
Playing Semantics
There’s a very important distinction between a Broker and an Adviser, it’s called fiduciary duty.
http://www.nytimes.com/2012/07/07/your-money/beware-of-fancy-financial-adviser-titles.html?src=recg
Teenage Wasteland
Parents that just dropped six figures on higher education aren’t laughing.
http://blogs.smartmoney.com/advice/2012/07/06/the-jobless-class-of-2012/’’
Reality Check
It’s a sad state of affairs for the Middle Class right now, and there’s no signs of improvement anywhere.