About a week ago I read an article in the New York Post entitled “Merrill Flinch: Retail banking push meets broker resistance.” I’ve read similar articles in Registered Rep and so on. Anyone could have (and many did) predict that this and more would happen. This is one of many instances where completely opposite and conflicting corporate cultures are going to clash.



BofA is pressuring Merrill brokers to start pushing retail banking products. The big brouhaha in the news is that BofA… Continue

On October 9th I posted a blog about how it might take 4 years to get unemployment back to normal. I referred to a Wall Street Journal survey of 48 economists which shows that on average these economist believed that the official unemployment rate would peak at 10.2% in February of 2010. They were half right.



The Department of Labor released the October unemployment numbers and the official unemployment rate is now at 10.2% (a 26 year high) while the true unemployment rate (including… Continue