 The Wild Wild World of Wealth |
“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. [...]
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 [...]
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.
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Jimmy Cusack is the tough kid from a blue-collar neighborhood who made good on Wall Street. Well, almost. After a sterling start to his career, things have soured. His hedge fund has collapsed. The bank is foreclosing on his condominium. And his wife is three months pregnant. That’s the good news.
From Publisher's Weekly -
