These state pension fund idiots will probably start suing all the hotels their managers stay in.
Apparently they had no idea nobody pays the "rack rate".
Will they also sue all the auto manufacturers? Were they paying MSRP all along? "well, no one told us we could negotiate"
This lawsuit is such complete nonsense. I hope BONY countersues them for wasting their time and resources defending themselves.
Yeah, and i'm mad at Barney Frank, Chris Dodd and all the other crooks in the goverment who gave away trillions of our tax money because their hearts bled for the poor. Their hearts didn't bleed for anyone who worked for a living. And i'm sick of paying for Barney Franks sex life and Chris Dodd
's second and their home. You bet i'm mad and it's not at the banks.
Well, you should know that our hearts bleed for you. Poor baby! Those awful firemen and cops took all your money. Oh, and those teachers - just unspeakable! But quit worrying and be happy, sooner or later you'll die and all will be well again.
Are you suggesting that we should be mad at Bony for 'robbing' pensions. The way I see this is simple: The populist rhetoric is to make the bank the villain and whoever else the victem....the homeowner, the pension fund, the credit card spendthrift, the list goes on. As long as you see the bank as the villain you will always think that whatever profit they dervice is ill-gained.
Here is another thought: What does it say about these pension funds, that they were run by people too stupid to read a bundles service fee contract to figure out the implications of the forex settlement rules. Maybe the offer from Bony wasn't all that bad compared to competitors, and maybe they were the best choice given the soft dollar benefits on the research and asset management expertise they provided.
This should be viewed in it's entirety, and as such Bony is guilty of nothing more than offering a service that qualified and so-called astute professional investors were willing to pay for.
By the way, only 13% of Americans rely upon pensions, so to the 87% who don't, I think thier 'anger' towards Bony mignt be a bit more tempered than yours. Are you a pensioner? If so, did you not recieve one of your pension checks because Bony took one thenth of one percent on an aussie dollar trade for a client?
****This should be viewed in it's entirety, and as such Bony is guilty of nothing more than offering a service that qualified and so-called astute professional investors were willing to pay for.*******
EXACTLY!! and when this is KNOWN BK will be in the 40's. BUY before then.
People like you are the problem in this world jagoff. BK (appropriate ticker symbol) STOLE $10B from under the nose of hardworking teachers, policemen, firemen, etc.
It's no wonder people are withdrawing all their money out of banks and putting it all into GOLD AND SILVER BULLION. That's what I did several years ago and I am now 3 times richer.
BONY peddles TOXIC DEBT aka US Treasuries.
The only thing worse than FRNs are future promises to pay in FRNs! LOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOL