At least they admit to trading against you.

Discussion in 'Economics' started by KINGOFSHORTS, Dec 6, 2009.

  1. POTENTIAL CONFLICTS — We and our affiliates play a variety of roles in connection with the issuance of the CDs, including acting as Calculation Agent and hedging our obligations under the CDs. In performing these duties, the economic interests of the calculation agent and other affiliates of ours are potentially adverse to your interests as an investor in the CDs. Investors will not be compensated in any way for any adverse effect resulting from such activities.

    I wonder how many people are gonna get burned on these. I was asked about this from someone and I told them that these "CD's" are garbage.

    I wonder how many grannies etc.. will get these structured CD's pushed on to them so they can collect fat commissions.
  2. pitz


    Sounds like the Canadian mortgages that are structured such that the bank, in its sole discretion, can determine the interest rate applicable to the loan.

    Amazing, isn't it, how f*cking stupid people are.