Smith Barney, is a division and service mark of Citigroup Global Markets Inc. and its affiliates. With the recent economic woes, Smith Barney has been facing alot of heat in the recent days. As Citi Group stock has plunged, Smith Barney has been raked over the coals.
Like AIG and Lehman Brothers it is another company that provides brokerage, and investment banking, however these areas are tanking in the market today. You all know what happened to Lehman Brothers, how they went out of business, and how AIG was only saved from Bankruptcy, because the Feds give a 85 Billion dollar loan, will Smith and Barney fall next?
As well as losing money in stocks, Smith and Barney is now suffering a series of lawsuits, started by The Law Offices of Aronberg & Aronberg. Who claim that Smith and Barney improperly recommended Fannie Mae to stock holders, which also is near bankruptcy as well. The stockholders of Smith and Barney were hit with a double blow with this crisis.
Smith Barney customers were also misinformed that, in the unlikely even Fannie or Freddie
went under government would step in and protect their investment, which didn't happen.
With the troubles piling up, and the stock markets continuing to plunge, one can only wonder, who is next that will file for bankruptcy, and further destroy the American financial situation.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment