The treacherous rollercoaster ride Wall Street has endured over the past several months goes to show that, well, gravity is a force to be reckoned with in the markets. What goes up must come down. But it also underlines another fact: Today's...
As former New York Governor Eliot Spitzer learned this week—after being ousted for clandestine trysts with expensive call girls—prostitution is illegal. Spitzer was not the first (nor the last) high-profile person to enjoy expensive...
Eliot Spitzer, who’s dramatic demise over the past few days has been covered backwards and forwards by every media outlet in the country, is not getting a lot of sympathy from Wall Street reps or executives. Many of them are celebrating the...
, I know everyone is debating if we’re in a recession or not. No need to debate; I have the answer: We’re not. We’re in a short-term economic slowdown, and the economy is still growing. With the dramatic interest-rate cuts (and...
Las Vegas: "I'm not really sure where else to focus my prospecting efforts," John said to one of our coaches, Bill, on his first coaching call. "I've done a great job serving my clients, and I ask for introductions and hold some terrific intimate...
The conflict of interest/mutual-fund scandal continues to play itself out. How does one win the trading business of a big mutual fund? Take some traders and executives to, say, the Super Bowl. Well, that was business as usual in those glorious...
Derivatives are certainly having their day in the sun. Congress is considering new tax treatment for certain derivatives, including prepaid derivative contracts and exchange-traded notes (ETNs). The House Ways & Means Committee held a hearing...
Citigroup’s reorganization of its private bank and Global Wealth Management division, announced Tuesday, will absolutely not force advisors into silos based on client wealth, said Sallie Krawcheck, Chairman and CEO of Citigroup's Global...
Clearing Firms Matter to Advisors. In fact, one of the biggest deals in the independent b/d business last year hinged on whether the b/ds being sold could maintain their relationships with their old clearing firm. In March of 2007, Pac Life sold...