A Typical U.S. Securities Broker

Here you will find the all the exciting details of how to do business in America. This isn’t boring theory or textbook learning. All of the examples are from current, real-world events. Learn from the greatest American business institutions and people how to operate in the U.S.

Many U.S. securities brokers are not focused on the needs and goals of their customers. They will sell you financial products that earn them the highest commissions. Those financial products may be financially devastating to you.

Here is a real world example. Eric Butler, a former Credit Suisse Group broker, was sentenced to five years in jail. He told his corporate clients he was investing their money in federally guaranteed student loans. He was really investing their money in mortgage backed securities to earn himself higher commissions. The method he used was to rename investments. The Big Bad Mortgage Investment became the Good Safe Federally Guaranteed Student Loan Investment. Mr. Butler’s corporate clients lost approximately $500 million on investments of $1 billion. With good behavior, Mr. Butler will be out of jail in a few months so he can resume financially raping people.

Of course, Mr. Butler worked for Credit Suisse Group. Credit Suisse also likes to help terrorist nations like Iran with financial services. See my previous post on January 24th.

What does this mean to you? Many U.S. securities brokers care more about earning the highest commissions than your investment goals. They will sell you products that could bankrupt you.

Are corporate officers angry about the corrupt practices of U.S. financial professionals? Of course not. This is how business is now done in America.