The Wild Wild World of Wealth |
"My job is the occupation formerly known as 'stockbroker.' But it has been years since anyone called me that. Stockbroker sounds oily. Glengarry Glen Ross. The word makes clients twitch..."
Norb Vonnegut | February 5, 2010
“Deckchairs. Titanic”
UBS is reorganizing its troubled US wealth management operations—turning three division into two. Zzzzzzz. I know this story packs enough punch to put Sominex out of business. But stay with me, because the UBS problems extend to the core of global financial reform.
An unnamed research analyst described the reorganization as follows: “Deckchairs. Titanic.” And [...]
Norb Vonnegut | January 4, 2010
U.S. Is Said to Consider Easing Informant’s Term
Bradley C. Birkendfeld is scheduled to start a 40-month prison sentence on Friday, January 6. He’s the banker who exposed UBS’ illegal activities and is now claiming a 30 percent whistleblower’s reward. In case you missed the story, here’s what 60 Minutes reported.
Watch CBS News Videos Online
Where did [...]
Norb Vonnegut | December 28, 2009
The 30 percent reward encourages advisers to turn in their clients. This incentive may promote public policy. But I really don’t understand why lawyers…sit in the front of the bus.
