An irreverent Wall Street Blog

BrokeAndBroker.com Blog by Bill Singer Esq WEEK IN REVIEW

July 20, 2019

http://www.brokeandbroker.com/4701/linde-murphy-diversity/
As a woman in the industry I have more than a passing interest in seeing diversity take hold. I believe that there is a simple change that can be made to attract and keep more women to the investment industry: Allow all persons to return to our industry, no matter how long they've been unregistered, if Continuing Education requirements are met. 

http://www.brokeandbroker.com/4700/aegis-frumento-moon/
I was an awestruck young teen watching Armstrong walk the moon. In the decades that followed, the vision of Earth as a lovely blue marble in the void dimmed as too much of the technology spawned by the space program has been used to widen inequalities of wealth and income.The rich always get richer by squeezing the rest of us, and the technology born of Apollo helps them do it faster and more effectively than ever. The next trips to the moon likely won't be to explore in the name of all of us, but to exploit for the benefit of the few of us.

http://www.brokeandbroker.com/4699/morgan-stanley-discovery/
In retrospect, Puerto Rico Bonds were a bad investment. All of which explains the legions of devastated  investors who have sued and continued to sue any moving target that might offer some recompense for their losses. In many cases, investors lost everything and were left destitute. Frankly, far too many Wall Street participants knew that they were pushing garbage, knew that the debt was beyond repayment, and should have known that the powder keg was going to explode -- none of which stopped anyone from pushing the paper on the unwary. Hard to imagine a more compelling set of circumstances suggesting fraud. Thus we arrive at the underlying dispute in today's featured FINRA customer arbitration.

http://www.brokeandbroker.com/4698/finra-awc /
Another day. Another FINRA fine and suspension because some registered rep still doesn't understand why it's not okay (as in also being dangerous) to email customers' confidential information to a personal email account. Making matters worse, one enterprising rep also downloaded customer info onto a portable hard drive.

http://www.brokeandbroker.com/4697/finra-outback-mellon/
Human beings have an amazing capacity for getting themselves embroiled in all sorts of nonsense, then doing whatever it takes to make matters worse, and then, when all else fails, blaming everyone else for their predicament. A recent FINRA OHO Panel Decision displays human folly in all its dubious glory. Sometimes you just have to shake your head. 

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