Wall Street Ethics Category

There are thousands of people in America who make hundreds of millions of dollars per year selling billions of dollars of bad investment products to people who believe what they are told by personable advisors. Like the political aristrocrats, the Wall Streeters are focused on perpetuating themselves. Other top priorities include big salaries, bonuses, stock options, extraordinary benefits, private planes, and lavish surroundings. Once they have it all they will do whatever it takes to keep it. Sounds kind of medieval doesn’t it.

By: Jack WaymirecloseAuthor: Jack Waymire Name: Jack Waymire
Email: jack@paladinregistry.com
Site: http://paladinregistry.com
About: Jack writes for the InvestorWatchdog website and Worth magazine. He worked in the financial services industry from 1976 to 2004. For twenty of those years he was the president of a Registered Investment Advisory firm and a Broker/Dealer. Jack is the author of Who's Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor and is a co-founder of PaladinRegistry.com.See Authors Posts (87) | January 27, 2010 | The Politicians, Wall Street Ethics

The politicians are incensed about the economic damage that was caused by Wall Street greed and stupidity. As ususal politicians are telling an outraged public what it wants to hear: “We will enact new regulations that will prevent this type of economic meltdown in the future.” The finance, insurance, and real estate industries contributed $85 million to federal lawmakers in the [...]

By: Matthew Arndt, CFA, CPA, CFP | January 27, 2010 | The Regulators, Wall Street Ethics

As testimony gets underway about the global insurer AIG’s rescue and the suspicious activity that surrounds it here are the facts you need to know:
A.I.G. has received $180 billion in taxpayer commitments.
In 2008 after the rescuing of AIG commenced, Fed officials rejected a proposal that would have forced its trading partners to return $30 billion [...]

By: Jack WaymirecloseAuthor: Jack Waymire Name: Jack Waymire
Email: jack@paladinregistry.com
Site: http://paladinregistry.com
About: Jack writes for the InvestorWatchdog website and Worth magazine. He worked in the financial services industry from 1976 to 2004. For twenty of those years he was the president of a Registered Investment Advisory firm and a Broker/Dealer. Jack is the author of Who's Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor and is a co-founder of PaladinRegistry.com.See Authors Posts (87) | January 22, 2010 | The Politicians, Wall Street Ethics

You need investment advice to help you achieve your financial goals. Your need creates a sales opportunity for licensed sales reps, advisors, planners, brokers, and agents. It also opens the door to unlicensed reps selling scams.
Wall Street companies know how to take advantage of your need. For example, its companies produce “feel good” advertising messages that are designed to [...]

By: Matthew Arndt, CFA, CPA, CFP | December 14, 2009 | The Politicians, Wall Street Ethics

One company’s existence can have more impact on things around it than anyone might realize. The year is 2008; AIG appears to be the picture perfect company: strong earnings, exceptional growth, the quintessential symbol of capitalism, and smart management (okay, maybe not so smart). However, on the Eve of the subprime crisis, AIG encounters severe [...]

By: Matthew Arndt, CFA, CPA, CFP | December 6, 2009 | The Politicians, Wall Street Ethics

Where is the financial industry overhaul we were promise? We wonder why no meaningful legislation has been passed to protect investors and taxpayers from another banking collapse. All you need to do is look at the amounts that members of congress received in just the 2007-2008 election cycle from commercial banking interests to understand why [...]

By: Matthew Arndt, CFA, CPA, CFP | November 27, 2009 | Bad Products & Services, Wall Street Ethics

Wells Fargo is ready to pay $1.4 Billion for its involvement in an Auction-Rate Securities scam. In an settlement that includes an arrangement with California Attorney General Jerry Brown, the San Francisco-based banker has agreed to repurchase billions in illiquid auction rate securities… “Wells Fargo convinced thousands of investors to purchase auction-rate securities with promises [...]