Serpent on the Rock- Now this will get your blood boiling.

[Swede]

Why couldn't I have protected you?

The question almost never left Rhoda's mind. She knew that she and her husband, Bernard, had kept the secret too long, hoping somehow that they would find a solution. But endless tries, sleepless nights, and frequent tears got them nowhere. She was still brooding about it when she reached the parking lot of her mother's retirement community. Maybe, she thought, maybe today would be the day. Maybe, finally, she could tell her mother the truth.

But how do I tell a blind, crippled old woman that she's losing her home?

Rhoda still didn't understand how it happened. Everything had started with such promise. Her mother moved to Arizona in 1985 to be closer to her children. She arrived with about $100,000 from the sale of the small Brooklyn row house she had lived in for decades. It was the first time in her life that Fannie had some money. After all the years of frugality and hard work, of going without vacations or movies or fancy clothes, Fannie finally could live the rest of her life in comfort. All she needed were safe investments.

That was when Bernard met Steve Ziomeck.

http://businessweek.com/chapter/chap0003.htm

[TomInTib]

1. I almost wish I had not read that.

Now I am really pissed.

Heartless bastards.

[lonestarnot]

2. There you have it! "Ownership Society" Class war at its best!

Another one fucked.

[ThomCat]

3. That is unregulated capitalism.

That is what the entire world is slowly turning into.

[acmavm]

4. And these are the people who see themselves as the 'cream'

of our society.

All great fortunes were built on a great crime. (Who said that??) It sure hit the nail on the head. Read up on the Robber Barons who founded the families that wouldn't touch the common people with someone elses ten foot pole.

[Swede]

5. Here in Canada,Prudential just abondoned their clients.

There is no Prudential up here and this is why. They left every one of them holding the bag.

[KurtNYC]

6. Very sad stories - heart breaking

I don't doubt that the daughter wanted to the best should could for her mother but no one should ever invest in "horse breeding." Breeding race horses is a way for very wealthy people to spend extra money. It is not EVER a way to make money and should never be considered among investment options. If your investment advisor ever recommends something like breeding horses, close your account and find another advisor.

[Coyote_Bandit]

7. Scumbag Financial Hustlers

I used to work in the financial services industry (not as a broker). Over three years ago I was laid off along with 30% of my co-workers. I am still job hunting and would much prefer to work in another industry.

My advice to anyone who wants to save or invest money is to assume responsibility for all your financial decisions. If you don't understand something then don't do it. And don't let anybody confuse you by using financial terms. Ultimately, every financial security is either (a) cash, (2) equity ownership, (3) a form of lending, or (4) a security whose value is derived from something else and based upon expectations that the item will change in value. Unfortunately, most financial vehicles can be manipulated to take advantage of people. That is what makes it impeative that you be proactive.