i understand several newspapers have interviewed current and former employees as well as the sec, nyse, state have been in our office looking into these scum bag brokers who market time with off shore clients. could this be money laundering???? i wish we just got rid of these guys and go back to the days of quality brokers and quality accounts!!!!
Rumors in town about Boston papers inquiring about the PSI Mutual Fund market timers and their offshore clients. Don't have any idea if it's true.
Didn't they do $5mm in commission last year?
Do you Boston guys know former NE MERrill regional manager, Jerry Miller? He didn't get canned because his brokers had too many tech stock blow-ups on his watch. He got a rescue transfer to Princeton, NJ with MLIM. He's about ready to retire or already has. MER takes care of its "boys."
It wasn't my intent to knock Mike when I said hello to him on this board, however, I assume those of you who are saying nice things about him, if it's not Mike himself using different screen names, are the same people who said nice things about his old Regional Director, MC Hammer.
Also, as I was there, no broker from MER ever worked in the Boston office while MV was manager. He was held accountable for compliance issues that happened on his watch.
That's how it works in this business. With the systems and procedures PSI has in place, he should have known what was going on and not just accepted the revenue from rogue brokers.
Okay, sorry I corrected you about the spelling. There are a lot of people here like "nonuts" who are bullshi* artists, and their spelling gives them away.
Taub was NOT liked at MotherMERrill. He was known as a kiss a--, suck-up, backstabber who was in the game for number 1 to include saying, "I do" to win.
Hey, Dave K. married into his MERrill job, too. His wife's daddy had a big fat account at MotherMERrill and got Dave a job as a broker trainee in Forrest Hills so his daughter would be kept in style.
PRUSec has too many ex SSB and MER rejects in senior mgt in my opinion. It's too bad they couldn't grow their own talent like BSC, LEH, or others have. The MER sleaze PRU has brought that MER kiss a--/backstab culture with them
I wish you the best with Wachovia. I do think they are 100% committed to this business.