I once worked at refco seattle office in the 80's and recently(a few months back) I was registered with them for all but 5 days. Back when Ditmar was running the place and the company was private they were a true force to be reckoned with. I can not help to think that once companies IPO suddenly they turn to crap. It is sad to the minions of IB and other affiliated small businesses who now need to reshuffle and get their business right. I know one IB who had spent several weeks on end to move to refco just to see this happen and perhaps lose some clients in the process....it is sad..