bad deals on high tech ipos of the late 90's bad loans in sub prime of the 2001-2006 selling garbage stocks and now sellin garbage worthless bonds to the bank. that is the only way these guys or brokers can make their profit. commissions are too low.
THE FEDERAL RESERVE... ...is the greatest thief of all. Our founding fathers are rolling in the grave. If interest rates were set in the FREE MARKET, do you think we would've had those 40-year lows in the 30-yr fixed? I think not. The Federal Reserve is slowly, insidiously destroying America. The IBs are gluttons, but nowhere as dastardly & destructive as the Fed. Nothing's worse than the Fed...
FED job is to supply money to the economy first and second is to control inflation. if economy is booming interest rates would rise and you wouldn't want to own 30 year fix rate or any money market stuff. interest rates don't go more than 4% historically fed rate. interest rates is fix. forget about getting 10% on fed rate in this economy. economhy must be booming for fed rate to 10%
Claw back their bonus money (if we can do it to Madoff clients we can do it to these guys too) and fire anyone in the top tier of the banks that are taking tax payer money.