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To: ToTradeWell who wrote (81606)	11/15/2003 11:04:31 AM
From: FLACK	Respond to of 100058

Nov. 14 (Bloomberg) -- Charles Schwab Corp., pioneer of the mutual fund supermarket, found evidence of possible illegal customer trading in some of the 3,000 funds it sells, and was subpoenaed by New York State Attorney General Eliot Spitzer. Schwab, which started selling other firm's mutual funds in 1992, is at least the ninth company drawn into the widening probe of the $7 trillion mutual fund industry. The discovery is an embarrassment for a firm that ran advertisements making fun of tainted equity research from Wall Street that forced 10 securities firms to pay $1.4 billion to settle claims they misled investors.

To: ToTradeWell who wrote (81606)	11/15/2003 8:35:27 PM
From: FLACK	Read Replies (1) \| Respond to of 100058

ToTradeWell >>IMO - the securities industry is not about helping clients manage their money and make profits - but it is a sales-driven self-centered business that works hard to sell snake oil to anyone foolish enough to look their way.<< I couldn’t agree more! I think that if the congress wants to put some teeth in the current laws governing Wall Street, they should require all financial planners and ‘advisors’ to use a preamble to anything they say to the public regarding investing. Maybe something like this - “YOU SHOULD KNOW: • that we don’t give a rat’s ass about you or you financial future • that you have only the slightest chance of actually making any money with any of the advice or investment instruments that I am about to push down your throat • that the industry that I represent will do everything in their power to take as much of your money as possible and put it in our pockets * that by investing with us, you are handing over your hard earned dollars to people who have been accused of, and in many cases, found guilty of stealing from suckers like you.