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Spanish Savers Fall Victim To Friendly Bankers

Monday, December 17, 2012 - 5:27 AM
This happened in Spain, but it can happen anywhere when bankers start pushing non-bank investment products to their clients. From AP via Boston.com:
Lured by the family-like ties nurtured between bankers and customers, they poured their life’s savings into higher-yielding financial instruments recommended by the people managing their money. When boom turned to catastrophic bust, they found the stock they had acquired had become all but worthless.

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Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
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