Wednesday, February 13, 2008

Native America beware...........

From time to time we bump into tribes that are still dealing with individual stockbrokers and buying bonds from their inventory. Until 12/31/2009 stockbrokers will no longer have to provide written notice to a client each time they make a principal trade. Instead, the client will only need to give oral authorization before a trade is made. Be honest. Mom and Pop in Mandaree don't have a clue about principal versus agency trades. The SEC continues its assault on fiduciary protection. Investors deserve trusted advice. The fox is still in charge of the hen-house. And don't forget, in 1999 investors won 61% of their claims against brokers for abusive practices, in 2006, only 42%.

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