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Promissory Note: Can't Pay Back

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Apr 12, 2010 6:26 pm

[quote=Mucho de Tejas][quote=rrbdlawyer] _popupControl(); Mucho de Tejas:

 From a lawyer's perspective, one of the blessings of the American legal systems is that is you have the bucks (and a good faith claim), you can file almost any case.  Could there be a Class Action for deceptive hiring practices? Sure.  On the other hand, how sympathetic do you think a jury will be towards those poor, underpaid brokers on Wall Street?  These are tough times.  Similarly, this is a perfect example as to why RRs needed and need a trade group or even some unionization (I'm not a fan of the latter idea).  There are several hundred thousand RRs and yet you folks continue to let yourself be picked off and diluted when it comes to negotiating your employment relationships. [/quote]  v. re·neged, re·neg·ing, re·neges 1. To fail to carry out a promise or commitment: reneged on the contract at the last minute.  I'll admit it, I had no way of holding them accountable for what they promised other than good faith. And when they reneged (see above) on their promises, I was left holding the bag. Whatever happened to a man's word is good as gold? It went to hell with BAC stock price.  Part of their recruiting ploy was to recruit newer LOS ML reps who had never gone through a transfer of b/ds, much less the negotiations. And that has been documented. Criminal, I tell you.  I learned from it.


That was me.  I was recruited from AG Edwards after the buyout from Wachovia, having been in business 2 years, and then ML imploded, and I was not able to get all my clients or my large client over.  Now I am being taken to arbitration.