[quote=Fritz]

  I have never in 15 years seen a broker canned for producing low numbers, Except for trainees.  We have 5-6 guys from ML who came over mid year 08; all were between 400 and 750  (ALLEGEDLY)  one is around 20K a month and a couple others around 10-12K monthly, and 3 have under 5K every month.  Asked the manager about how these guys could paid the big bucks they did and do next to nothing and he said "thats the business"  From what Ive seen most of those guys have given up and will sit out the next 5 years of the contract and that will be that.[/quote]   I mentioned several months ago how a former Joneser who left for MS said he was very relieved to not have a dot to worry about anymore, and I was pretty much called a liar.    My buddy was told he did not have to meet a certain level of production and that he would know if it was time to move on well before they had to tell him.   So what's the real story? Do transfer brokers at wirehouses have minimum requirements or not?

2008 Market tanks 35+ %

YTD markes are down 25+% after today's performance.   This is worse than anything anyone in the business has ever seen.  These performance numbers are equal to the Great Depression.  To be sure, the economy has not yet reached a paralelle but, the market performance is right in line.   I think there is no way the market holds these levels without dipping to 6000 or below.   A 8000+ point drop in my book is a full blown crash..... what else would you call it???