When California’s Supreme Court legalized same-sex marriages last month, besides making history, it may have opened doors for some financial advisors in search of a niche. That’s because the tens of thousands of same-sex couples...
Wachovia, now with A.G. Edwards under its wing, unloaded a whopper of bad news yesterday, reporting a second quarter loss of $8.9 billion, or $4.20 per share; that’s nearly three times more than some analysts expected.
In case you missed it, President Bush and Fed Chairman Ben Bernanke both gave speeches last Tuesday morning, July 15, about the state of the economy. Evidently, they didn’t share talking points beforehand.
Today, Merrill Lynch provided a damper to the financial sector rally that has occurred over the past two days by reporting even worse quarterly earnings than analysts expected. The firm announced a loss of $4.7 billion in the second quarter, it&...
Wachovia Securities St. Louis offices were searched today by the Missouri Securities Division after more than 70 formal auction rate securities complaints were filed against the St. Louis-based firm.
Chicago: "My clients are scared. How do I change their perceptions of me? I know they still regard me as a stockbroker. I have been doing business with many of them for years, and get nervous just thinking about comprehensive wealth management"...
The SEC issued an “emergency order” yesterday that basically warned investors not to get “naked” if they planned on shorting any one of a list of 19 specific financial company stocks. Naked short that is.
Securitization has gotten a bad reputation lately. Indeed, given the current dismal state of the CDO market, you’d think that they might taint the entire derivative, structured product marketplace.
UBS is trying to address two of its thorniest problems: angry investors who hold frozen auction-rate securities, and angry financial advisors who are leaving because they feel the firm has lost the plot—or simply because they want those fat...
