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Posted: 8/25/2009 7:57:09 PM By: Why Are they going to deprive the traders of cheese and chocolates?
Yodel-eh-eee-hooo!
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Joined: 10/12/2010
Posts: 5779
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Posted: 8/25/2009 5:10:42 PM By: Bear Will this create another market crash?
http://online.wsj.com/article/BT-CO-20090825-710081.html
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Posted: 8/26/2009 4:27:52 PM By: Sell, Sell, Sell This is just a start. Many other banks will follow. It has just become too onerous to deal with US securities for non-US banks. Since the US stock market has had a negative performance over the past ten years, nobody will really miss losing money on US stocks.
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Posted: 8/26/2009 1:21:06 AM By: tilssiter It is a small Swiss private bank, Wegelin, that has decided this...I cannot see how it will cause a market crash because they dont buy on their name but for account of clients..So if a client wants US shares in his portfolio, he'll have to turn to another adviser...With open wealth management platform structure it is easily done.
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