Fund spotlight shines on Schwab (scandal investigation)

UpInArms

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Sun Nov-16-03 12:25 PM
Original message

Fund spotlight shines on Schwab (scandal investigation)

http://news.bbc.co.uk/2/hi/business/3275035.stm

US mutual funds face pressure to reform has expanded as high-profile stockbroker Charles Schwab Corp said it was coming under federal investigation.

The company said it had uncovered signs of improper trading by staff at its US Trust subsidiary, and said regulators were examining its trading practices.

Schwab is the first retail firm to be pulled into the scandal, in which funds are accused of favouring big clients.

...more...

hmmmm....

wasn't Schwab one of the "chosen" ones at the dimson's economic meetings?

http://www.commondreams.org/headlines02/0815-03.htm

excerpt:

And, even while summit participant Charles Schwab, CEO of investment broker Charles Schwab and Co. Inc., was sitting beside Bush, his company was announcing 400 job cuts, the Times noted.

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MidwestTransplant

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Sun Nov-16-03 01:33 PM
Response to Original message

1. Schwab is a big Bush contributor

I am sure he will be fine like Kenny Boy.

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wryter2000

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Sun Nov-16-03 01:37 PM
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2. According to Hightower

Schwab was at Whistle Ass's elbow during the economic summit in Waco. This isn't good news for the chimp.

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MrTriumph

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Sun Nov-16-03 07:25 PM
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3. Here's Bush's plan

If Chs. Schwab & Co. is caught misbehaving, Bush will flatly state he doesn't know "Chuckie-Boy" and the lap dog press will go along.

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dArKeR

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Sun Nov-16-03 07:37 PM
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4. I'm sure it's the truth. I closed my Schwab account when C. Schwab

shook Satan's hand at the Waco Enconomic Summit 2.5 years ago. (And we can see the summit really was productive.)

For all you people who don't watch you accounts so closely: Schwab started charging $30 a quarter for anyone with a balance less than 50K. If you don't read the fine print on the notice they sent you a 1.5 years back you'd never notice. (auto deduct).

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