Forsyth Barr, apparently consider themselves number one...

Forsyth Barr, apparently consider themselves number one stockbrokers/advisors in New Zealand, they reccommended and put their clients into Feltex ($2.20)(in receivership).

They lso suggested to the holders of BBN020 secured bonds rating equally with bank debt that 800,000 of bonds should be sold at 32 cents in the dollar, one week later the bonds are slling for 50 cents in the dollar and are included in the sweep.

The major revelations that have come out of the last ten years are
1. Financial advisors are the new name for insurance salesmen and have just the same expertise and knowledge.

2.Stock brokers have always been shoddy order takers and the last ten years has proven it

3.Financial advisors like Huntleys, Merrills, lehmans, Bear Sterns, Morgan Stanley, Goldman sachs are sheisters

4. Rating Agencies are part of the problem (see valuers in the last Real estate Crash)