Brookstreet CEO Fined $10 Million for Selling Risky CMOs to Seniors
A federal judge has ordered the former CEO of Brookstreet Securities to pay a $10 million penalty for selling risky and illiquid collateralized mortgage obligations to seniors during the financial crisis.
A Broker's Broker
Last June, when the financially troubled Brookstreet Securities Corp. collapsed, some 500 advisors were instantly out of work. Behind the scenes, recruiter Larry Papike was...