CHAT: Lehman's Five Year Anniversary
So I was going to compose the requisite 500-800 words on the five-year anniversary of Lehman's bankruptcy and how we are still very much in danger of it all happening again, but then I was invited by LinkedIn to participate in a webcast discussion at 2 p.m. Eastern today.
We will be able to really dig in with a chat for about a half-hour and then it will be opened for questions, so if you have a chance, come by. Here is the link and I will update here once it's done. And since I'm doing it from my new office at Jenner & Block via webcam, I'll be wearing one of those gamer headset headphone microphone contraptions, which should be good for at least a little comic relief.
Empowering Financial Success Through Collaboration
10 年Like most financial questions, the correct response usually is "it depends." If you are a big bank, things are great. The Federal Reserve has all the bad loans and you are getting money for free. Not lending it out, but using it to push up prices of bonds (certainly), stocks and commodities (maybe). If you are the average guy with a job and a mortgage, things are not much better. No body bought their loans and offered free money to repair their balance sheets. If you are a member of the lower economic class, you are probably worse off. Perhaps the Fed and its QE has pressed official inflation down, but food and energy are up and their wages are not. If this form of inflation continues, things could be much worse that the 1970's. And, if you are me, things are much worse. After Morgan Stanley learned by capturing my e-mails that I was planning on leaving their firm, they retaliated by going on a witch hunt, painting my U5 with a false allegation, saying to us they did not have to "prove" the allegation, only to make it to post it on my U5. The end result is that they destroyed a financial planning practice for one of their top advisers solely because they learned I was leaving. This is not "At Will" employment. Next, our legal team really upset Morgan Stanley by exposing their manipulation of FINRA rules in the way they handled billions in financial advisor notes. Atter four years and several hundred thousand dollars in legal fees paid by me, FINRA dismissed MSSB from the case with prejudice. The complete story is still unfolding. Now, to our whole teams surprise, Morgan Stanley has proposed a settlement in which I must stop with my Whistle Blower case filed several months ago, and if we pursue it and win, we must forfeit all proceeds we receive to them! You have go to be kidding me. Any Help?
I think many of us are ready for authenticity; support for main street and sharing. We are shifting forward into that paradigm. Thanks Chip Cutter, Neil Barofsky and Jill Schlesinger for starting a discussion that unfortunately begins to show the drunk uncle we are embarrassed of. Some of us are lovers, some of us are fighters; but many of us do recognize the emperor is wearing no clothes.
Barclay's building is in the middle of Manhattan. That's how the economy is doing. I mean it really just sucks seeing a British building in the center of New York. I mean is it a british centralized economy. Pret Manger coffee that they don't look if you are stealing. Too much of that uncultured ideology taking place and not enough of good economic growth and research. I mean Dick Fuld really took the economy down but being that arrogant Taurus who just had to be all stubborn and here we are now with this building and the slow seeing Brits.
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