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General News    H3'ed 4/24/11

A Crack in Wall Street’s Defenses

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TWO individual investors just scored a remarkable win against Citigroup.The pair was awarded a total of $54 million in a securities arbitration case against the Smith Barney unit of the company à ‚¬" the largest amount ever awarded to individuals in such a case,according to the Financial Industry Regulatory Authority.The arbitrators in Mr. Hosierà ‚¬ „ s case seemed keen to hold Wall St accountable.And his win against Citigroup does not appear to be an anomaly.Since April 2010,his lawyer has argued 16 other arbitrations involving the same type of investment.Mr. Aidikoff and the lawyers who assist him have won every one.In an interview,Mr. Hosier said the experience had opened his eyes to the disturbing ways of Wall Street.à ‚¬Å"Instead of the financial world being the lubricant for business,they are manufacturing products with no utility except generating fees.Wall St is destroying the country."
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Joan Brunwasser is a co-founder of Citizens for Election Reform (CER) which since 2005 existed for the sole purpose of raising the public awareness of the critical need for election reform. Our goal: to restore fair, accurate, transparent, secure elections where votes are cast in private and counted in public. Because the problems with electronic (computerized) voting systems include a lack of (more...)
 

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