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Lawyers inciting lawsuits

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Feb 6, 2009 2:08 am

Wanna make your blood boil?
Read this…truly makes every stockbroker in America look like a criminal

If your too lazy to paste it into your browser, just read this excerpt - did anyone really do this? We should all flood their email box

“There were two major misrepresentations brokers and financial advisors
made when selling Fannie Mae and Freddie Mac preferred stocks. First,
full service brokerage firm clients nationally were pitched the
preferred investments as a “safe” and “secure” investment. Clients were
often told that they either could not lose money, or would not lose
investment principal in the Fannie Mae and Freddie Mac preferred
stocks. These types of representations were made to investors as an
inducement to invest significant sums into these preferred stocks.

investors were told by their full service brokers that in the unlikely
event Fannie Mae or Freddie Mac defaulted, the U.S. government would
step in and make investors whole or otherwise cover their investment
losses. This simply wasn’t the case. While bond holders in Fannie Mae
and Freddie Mac would be protected, the common share holders and the
preferred shareholders would not be offered any protections. To state
otherwise is highly misleading and a misrepresentation under most state
security laws.”