us brokers in huge payout-------, page-2

  1. dub
    32,454 Posts.
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    Hi Scarva,

    It makes great news, but it's all relative.

    Broking firms make money irrespective of whether or not their client does and the biggest firms, like these, with the most clients make the most money.

    To date it seems about $8.5 trillion US has been wiped from the value of Wall St stocks - all held by the broker's clients.

    How much would these brokers have made by "giving investors unreasonably favourable reports on companies with which they hoped to win investment banking business."?

    I've no idea, but I have no doubt it was many many multiples of the $1.4 billion they are to pay back - but to the regulators!!!! - not to the people who've lost the $8.5 trillion.

    Something is rotten in the state of Denmark WS.


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