Articles and Resources
71 Articles and Resources. Go to: [Next 21]
Date Fairness.com Resource Read it at: May 02, 2013 Secret 'pocket listings' return in hot housing markets
QUOTE: In some cases, agents may try to convince sellers to use pocket listings in order to double their commissions by acting as agent for both the buyer and the seller...."If an agent is putting their own economic interest ahead of the seller's, it's a violation of state law."
CNN (Cable News Network) Mar 02, 2013 Selling the Home Brand: A Look Inside an Elite JPMorgan Unit
QUOTE: To bolster sales, said the advisers, many of whom spoke on the condition of anonymity because they feared retribution, JPMorgan largely pushes its own bank-branded investments, which include a mix of mutual funds. While the practice can be legal, competitors have moved away from such investments after facing perceived conflicts. The concern is that, driven by fees, banks will push their own products over lower-cost options with stronger returns.
New York Times Feb 10, 2013 Complex Investments Prove Risky as Savers Chase Bigger Payoff
QUOTE: Regulators across the country are confronting a wave of investor fraud that is saddling retirement savers with steep losses on complex products that until a few years ago were pitched only to the most sophisticated investors. The victims are among the millions of Americans whose mutual funds and stock portfolios plummeted in the wake of the financial crisis, and who started searching for ways to make better returns than those being offered by bank deposits and government bonds with minuscule interest rates.
New York Times Jul 14, 2012 Goldman Sachs and the $580 Million Black Hole
QUOTE: With Goldman Sachs on the job, the corporate takeover of Dragon Systems in an all-stock deal went terribly wrong. Goldman collected millions of dollars in fees — and the Bakers lost everything when Lernout & Hauspie was revealed to be a spectacular fraud.
New York Times Jul 06, 2012 A Fancy Financial Adviser Title Does Not Ensure High Standards
QUOTE: Investors can’t be blamed for failing to recognize the differences between a glorified salesman pushing a particular fund and a true investment adviser who is required to act in your best interest, but there are many.
New York Times May 24, 2012 Beware small investors: Facebook was just a warning
QUOTE: a bipartisan bill, innocuously named the JOBS Act, rolled back these and other investor protections for companies with less than $1 billion in revenue, deemed emerging growth companies. Once again, research analysts can communicate directly with management and if desired share favorable (or unfavorable) reports....Prior to Sarbanes-Oxley, researchers at Cornell and Dartmouth universities found that analysts affiliated with the underwriting bank issued buy ratings to prop up dropping stocks...
CNN (Cable News Network) Mar 15, 2012 It's Not All About You: What Privacy Advocates Don't Get About Data Tracking on the Web
QUOTE: The privacy discourse frames the issue in an ego-centric manner, as a bargain between consumers and companies: the company will know x, y and z about me and in exchange I get free email, good recommendations, and a plethora of convenient services. But the bargain that we are making is a collective one, and the costs will be felt at a societal scale. When we think in terms of power, it is clear we are getting a raw deal: we grant private entities -- with no interest in the public good and no public accountability -- greater powers of persuasion than anyone has ever had before and in exchange we get free email.
Atlantic Online, The (Atlantic Monthly) Mar 14, 2012 Why I Am Leaving Goldman Sachs
QUOTE: the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. Goldman Sachs is one of the world’s largest and most important investment banks and it is too integral to global finance to continue to act this way. The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for.
New York Times Nov 11, 2011 Arms and the Corrupt Man
QUOTE: Governments protect corrupt and dangerous arms dealers as long as they need them and then throw them behind bars when they are no longer useful.
New York Times May 13, 2011 Why 401(k)’s Should Offer Index Funds (Your Money)
QUOTE: These 401(k) plans lack index funds even though their low expenses and breadth make them the very definition of cheap and risk-conscious. Instead, too many employees must choose among actively managed funds. Those investments tend to have higher costs, which eat away at returns.
New York Times Apr 20, 2011 Stumbling Into Bad Behavior
QUOTE: They overlook transgressions — bending a rule to help a colleague, overlooking information that might damage the reputation of a client — because it is in their interest to do so… Good people unknowingly contribute to unethical actions, so reforms need to address the often hidden influences on our behavior.
New York Times Jun 16, 2010 Negotiators in Congress to Discuss Rule for Brokers
QUOTE: On the surface, both the brokerage and the financial planning industries appear to agree that advisers of all stripes should be subject to a consistent fiduciary standard. But behind the scenes, the groups are divided on how exactly it will work, while the insurance industry has been opposed to the standard.
New York Times Mar 21, 2010 When drug makers' profits outweigh penalties
QUOTE: As large as the penalties are for drug companies caught breaking the off-label law, the fines are tiny compared with the firms' annual revenue. The $2.3 billion in fines and penalties Pfizer paid for marketing Bextra and three other drugs cited in the Sept. 2 plea agreement for off-label uses amount to just 14 percent of its $16.8 billion in revenue from selling those medicines from 2001 to 2008.
Bloomberg News Jan 01, 2010 Consumer Confidential
QUOTE: Do you know when you're being hustled by bankers, mortgage brokers, and investment peddlers? Check out our tip sheet on financial pros' everyday deceptions—and how to protect yourself against them
AARP Bulletin Jul 16, 2009 United plan could put huge costs on passengers
QUOTE: United notified a small number of travel agents that starting July 20 they would be required to buy tickets for their customers with cash rather than through the airline's credit-card system... Industry analysts and travel agents soon cried foul, saying the move could shift hundreds of millions of dollars in costs from the airline to its passengers and travel agencies.
Christian Science Monitor Dec 20, 2008 Madoff Scheme Kept Rippling Outward, Across Borders
QUOTE: whatever else Mr. Madoff’s game was, it was certainly this: The first worldwide Ponzi scheme — a fraud that lasted longer, reached wider and cut deeper than any similar scheme in history, entirely eclipsing the puny regional ambitions of Charles Ponzi, the Boston swindler who gave his name to the scheme nearly a century ago.
New York Times Sep 29, 2008 Judge Rejects Commercial Free Speech Defense in 'Off-Label' Drug Promotion
QUOTE: A pharmaceutical company sales representative accused of promoting a "powerful sleep-inducing depressant" for "off-label" uses is not entitled to dismissal of the case on free-speech grounds...
New York Law Journal (NYLJ) Jul 03, 2008 Georgia Bars Insurance Firm Over Violations
QUOTE: Regulators in Georgia have barred a California company from doing business in their state, saying it violated rules adopted in 2007 to prevent the sale of misleading or unsuitable life insurance policies to military personnel.
New York Times Mar 01, 2008 Tapping Into Homes Can Be Pitfall for the Elderly (Golden Opportunities)
QUOTE: ...hundreds of people who have sought reverse mortgages...have complained about high-pressure or unethical sales tactics they say steered them toward loans with very high fees. Some say they were tricked into putting proceeds of their loans into unprofitable investments, while sales agents pocketed rich commissions.
New York Times Dec 02, 2007 U.S. Credit Crisis Adds to Gloom in Arctic Norway
QUOTE: these Norwegian towns are links in a chain of misery....duped by Terra’s brokers, who did not warn them that these types of securities were risky and subject to being cashed out, at a loss, if their market price fell below a certain level.
New York Times Jul 20, 2007 Senate Panel Investigates How Insurers Sell to Elderly
QUOTE: A Congressional committee has opened an investigation into companies that train sales agents to market themselves to older consumers through impressive-sounding credentials and controversial tactics.
New York Times May 24, 2007 Mortgage Brokers: Friends or Foes? Amid Mounting Defaults, State and U.S. Lawmakers Weigh Measures to Make Profession More Accountable to Borrowers
QUOTE: Borrowers often see mortgage brokers as their allies, searching far and wide for just the right home loan at an attractively low price. But many brokers are making it clear they don't see things that way. They are fighting efforts by federal and state politicians to impose a fiduciary duty on them to put their customers' interests first, as lawyers, real-estate agents and financial planners generally are required to do with their clients.
Real Estate Journal May 22, 2007 Doctors, Legislators Resist Drugmakers' Prying Eyes
QUOTE: Many doctors object to drugmakers' common practice of contracting with data-mining companies to track exactly which medicines physicians prescribe and in what quantities -- information marketers and salespeople use to fine-tune their efforts.
Washington Post Apr 07, 2007 Seeing Other Agents
QUOTE: Designed to ensure that the agent receives a commission if he or she has anything to do with the transaction, contracts are not easy to break. Sometimes they even stipulate that the agent is due the commission for a certain period of time afterward....Stark recommends that if you're unhappy with your agent to talk to his or her broker or manager. Your contract is with your agent's brokerage, not the individual agent...
Washington Post Mar 13, 2007 Many Brokers Offer Financial Advice They Shouldn't Give
QUOTE: much of the advice brokers are giving to would-be clients is off the mark. And according to some critics, some of their offers even violate SEC rules.
Smart Money Jan 19, 2007 Identity of Edwards Home's Buyers Veiled: Assisted-Living Magnates in SEC Probe Paid Candidate $5.2 Million
QUOTE: ...John Edwards finally succeeded last month in selling his imposing Georgetown mansion for $5.2 million....the buyers were Paul and Terry Klaassen, according to several sources...The wealthy founders of the nation's largest assisted-living housing chain for seniors, the Klaassens are currently cooperating with a government inquiry in connection with accounting practices and stock options exercised by them and other company insiders. They are also the focus of legal complaints by some of the same labor unions whose support Edwards has been assiduously courting for his presidential bid.
Washington Post Jan 02, 2007 Whose listing is it, anyway?
QUOTE: If you're selling a house, it might very well be in your best interest to place your listing on every Web site possible. But Baczowski says it's not necessarily in the listing agent's best interest.
Bankrate.com Dec 12, 2006 Dr. Shameless: Why I take handouts from drug companies.
QUOTE: doctors end up with meals and pens and trips and bogus advisory-board positions and, of course, the hordes of fine-looking well-perfumed young men and women—some literally cheerleaders—who hustle their way through physicians' offices. Despite its successes, the pharma business model does have a problem. The drug reps, foot soldiers in the mercantile crusade, don't know what they are talking about.
Slate Nov 30, 2006 Finding a real estate agent in a buyer's market: 6 keys
QUOTE: For sellers, the cyclical return to a buyer's market means that it's important to choose the right real estate agent.
Bankrate.com Oct 07, 2006 Dealing With Deadbeat Agents
QUOTE: What recourse does a home seller have against a deadbeat real estate agent?
Washington Post Sep 06, 2006 Hornsby Pleads Not Guilty: Ex-Chief Accused Of Kickback Scheme
QUOTE: Hornsby, 52, was indicted Aug. 23 by a federal grand jury on charges of steering school business to associates in exchange for kickbacks that were intended to exceed $100,000 and possibly include expensive art or a yacht.
Washington Post Sep 03, 2006 The Last Stand of the 6-Percenters?
QUOTE: Redfin and other innovators, including ZipRealty and BuySideInc.com, are using technology to reduce costs and to save time for their brokers. Agents don’t find and recommend homes — customers do that on their own, using Internet listings — and that enables agents to charge less for the services they do provide, chiefly handling the paperwork and negotiations.
New York Times Aug 05, 2006 Ten Ways Brokers Pick Pockets
QUOTE: look for the fine print on any full-service brokerage's Web site and you'll see the following: "Our interests may not be the same as yours."...Some brokers may try to pitch you products that will earn them higher commissions.
Forbes Jul 26, 2006 Technology Bull Told to Pay $2 Million for Deceiving Investors
QUOTE: a jury found that Mr. Johnson had recommended that investors buy shares in a company he was in fact selling...also misled investors by failing to disclose personal stakes in two other companies he was urging investors to buy...
New York Times Jul 13, 2006 N.Y. Lawyer Indicted for Stealing $1.6 Million From Clients
QUOTE: A Manhattan lawyer was indicted Wednesday for stealing $1.6 million from...clients' escrow and trust accounts.
Law.com May 11, 2006 Hartford Settles Pension Charges Insurer Paid Brokers to Get Business
QUOTE: The Hartford Financial Services Group has agreed to pay $20 million to settle charges that it secretly paid brokers to steer pension funds to the insurer's annuities even though they may not have been the best choice.
Washington Post May 03, 2006 Horse Racing: A Horseman's Lawsuit Puts Trading Practices in the Spotlight
QUOTE: Since horse trading began in America, there have been whispers of false bidders who conspire with agents to run up the prices of horses as they pass through the sales ring. Rumors circulate of back-room deals between sellers and the agents for wealthy newcomers to the sport...
New York Times May 01, 2006 Remodeling? Make sure you're insured
QUOTE: You might think choosing a contractor and creating a renovation plan are the two most important considerations when it comes to planning a home improvement project. But if you have not considered your insurance needs, and made sure your property is adequately covered during the renovation process, you may be putting your investment in serious risk.
Bankrate.com Apr 29, 2006 'For Sale by Owner' Means Cutting Commission, but at What Cost?
QUOTE: The real estate industry, which abhors FSBOs at any time, says this is the worst time to go without professional help because sellers need more guidance in a slowing market, not less...FSBO enthusiasts, however, say that while there are no official statistics on how many sellers try the route or on how much money they make, it appears that the number of do-it-yourselfers is multiplying...The industry has faced official allegations that it deters competition by controlling access to listing information and other practices.
Washington Post Apr 26, 2006 The Honeymoon Cottage
QUOTE: There may be a huge difference between the house the bank says you're qualified to buy and what you can afford. The bank and your real estate agent have a vested interest in getting you into the biggest house with the fattest mortgage...
Forbes Apr 24, 2006 Discount real estate brokers: Get what you pay for?
QUOTE: While many sellers do need the service -- as evidenced by the high percentage of them who continue to retain full service brokers to handle their deals -- others feel they can get by with less involvement by the agent, especially if offered at a lower price.
Bankrate.com Apr 15, 2006 Report Brings An Ugly Practice To Light
QUOTE: The results of the tests were sobering: White shoppers routinely were steered away from houses in predominantly minority or racially mixed neighborhoods, even when they expressed interest in seeing houses in those areas. African Americans and Latinos routinely were steered to minority neighborhoods and away from more affluent, white neighborhoods, even when they wanted to see houses there.
Washington Post Mar 26, 2006 'Punk'd': A Cautionary Tale
QUOTE: NASD announced recently that it had fined Merrill Lynch $5 million for allegedly holding impermissible sales contests, failing to supervise advisers and other violations in connection with the operation of a financial call center...
Washington Post Mar 24, 2006 Arrington's Agent Sues NFL Players Association
QUOTE: A dispute between the NFL Players Association and one of the league's most high-profile agents has landed in federal court....the union has made it clear it wants to be aggressive in regulating player agents.
Washington Post Mar 18, 2006 Agents Falling Short On Disclosure
QUOTE: Real estate agents are failing to disclose whom they represent in transactions -- even where state laws require them to do so in writing at their first substantive meeting with a potential client...just 30 percent of all buyers in 2005 received disclosures about representation from their agents at their first meeting.
Washington Post Mar 04, 2006 Credit Bureaus Share Your Loan Application
QUOTE: Your loan officer may not be aware of it, but behind his back, key financial details about you and your mortgage needs are being offered to competing lenders within 24 hours of your credit bureau inquiry... credit scores, open mortgage balances, loan-to-value ratios, monthly mortgage payments, revolving debt balances and other personal financial data.
Washington Post Jan 11, 2006 Is This Brownstone A Lemon?
QUOTE: Matthew Haines depends on real estate brokers for much of his livelihood--but that doesn't mean he trusts them. "Brokers fill you up with sunshine," says Haines, founder of PropertyShark.com, a Web site that discloses the dirty details that are hidden in the shade.
Forbes Dec 20, 2005 New book helps decode real estate purchase contracts: Valuable sections include lead paint, handling deposits
QUOTE: ...I've never encountered such a unique book and CD-ROM as The Complete Book of Real Estate Contracts by attorney Mark Warda. The book's theme is to educate home buyers, sellers, and realty agents about the pros and cons of the typical clauses found in home purchase contracts.
Inman News Dec 19, 2005 10 real estate deal wreckers
QUOTE: ...some of the more common things "not-to-do" to clear a trail for a happy home sale or purchase.
Bankrate.com Dec 14, 2005 Job hunters online become the hunted: Experts offer tips on how to take care in posting resumes.
QUOTE: ...phony employers are setting up dummy Web sites to make their operations look more legitimate. They're refining their virtual interview techniques to make candidates less suspicious. The scam itself -- such as getting you to agree to transfer funds in and out of your own bank account -- is likely relegated to the small print in an employment contract.
71 Articles and Resources. Go to: [Next 21]
- Arts & Humanities
- Businesses & Organizations
- Computers & Information Technology
- Family & Friends & Interpersonal
- Government & Politics / History
- Health & Medicine
- Law & Justice
- Media & Journalism
- Personal Finance & Career
- Philosophy & Religion
- Recreation & Entertainment
- Science & Technology
- Social Sciences & Groups
- Arctic / Antarctic / Greenland
- Central America / Caribbean
- Eurasia / Central Asia
- Middle East
- North America
- Oceania / AustralAsia
- South America
- About Fairness.com
- Contact Us
- Conditions of Service
- Fair Use Notice
- Advisory Board
Not a current user? Sign up!