Quoting the Crisis04/07/2009
“ In the stock market, it happens every day. Brokers lend investor property to short sellers, often at annual yields in excess of 10 per cent, without notice to investors. After lending investor property, brokers have the gall to keep 100 per cent of the proceeds. […] Even though the shares have been lent and the retail investor is not legally entitled to vote, brokers allow the investor to vote anyway. As a result, shareholder voting has become a farce. That is evident, in part, by rampant over-voting. „
FT.com / Wealth - Arne Alsin: The story brokers don’t want you to read (via nonolet)
Quote posted at 13:22
