Debit Commission the way to pay back stock losses |

Debit Commission the way to pay back stock losses

Dear Editor,

$1.4 billion. A fine? A penalty? No. The cost of doing business, an expense, they’ll call it. Moreover, these financial giants will split this bundle into pieces, pass the hat to the insurance companies, mix in some creative accounting, burp, and go on with business as usual.

Oh, there will be lawsuits. In fact, it’s the lawyers who will reap the spoils.

This is justice? This is fair? Hardly. Is the ongoing system going to install trust in the markets? Respect? Integrity? No.

But . there is a way. No lawyers. No paperwork. No years of negotiations. No time lost. How? They just punch the computer key reading “Debit Commission.” Translation: On any stock purchase or sale you make, you will not be charged a commission fee until the amount you lost on let’s say, Enron, WorldCom, etc., is equalized.

Why should the brokerage firms do this? For lying to you. For the Jack Grubmans getting $20 kick-backs for rating bad stocks as their No. 1 pick, and to hold that rating even when the stock is tanking. Remember, the bulk of your commission fee buys their knowledge, their research department, yet they cut the deck so you would lose.

No, don’t hang them. Get even. Get your money back. Get it back in a manner that will hit them in the pocketbook, the CEO right down to the broker that passed No. 1 right into your little ear. (The next time he does it, you hang `em.)

Leonard Hodera

Glenwood Springs

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