Jackson Jambalaya

How does Morgan Stanley defend itself now in the 30-40 more folks who are going to arbitration against them?

2:14, Morgan Stanley is protected by the FINRA arbitration procedure. If you have any doubt that arbitration is a fair alternative to a jury, just ask one of those people that lost their life savings. Breese and Lee are doing great work, but there is only so much they can do against an arbitration system that is tilted so heavily toward the Morgan Stanleys of the world.

Delbert Hosemann is/was good friends with Fred Brister, the branch manager during the time all this was going on. Secretary Hosemann should have treated his friend as he would have anyone else but instead went easy on them. Mr. Brister has since "retired".

Hosemann's office is doing very little to help the citizens in Mississippi when it comes to securities fraud. He ran off everyone who tried to do the right thing for the people.

Arbitration is a rigged system for the following reason -

- the selection of the arbitrator. The parties generally must agree.

If the arbitrator hits the defendant for a large sum she will never arbitrate again.

It's that simple.

Terrible system.

Hoseman cannot be trusted. That simple act of protecting a friend should prove that he needs to be removed

To add to what was said about the unjust Arbitration Process, the most pertinent fact is that the Arbitration Panel is paid indirectly by the defendants! The brokerage houses pay FINRA who, in turn, pay the arbitrators! Yet, in spite of this rigged system, Morgan Stanley has LOST in SIX Arbitrations so far in this case!! So, how blatantly wrong were their actions that they would lose six times and additionally lose in the investigation by the SOS? Additionally, the SOS could have forced MS to pay back every dime they cheated their clients out of, and they could have fined them millions for each infraction they committed! My question is WHY did the SOS settle for less than 5 million when 50 million was lost????

The SOS settled because they have maybe one person in the Securities' division that knows what's going on. They have no criminal authority, only administrative.

Lee and Breese have been fighting this battle for 6 years. Morgan Stanley is a firm operating on the highest planes of arrogance.You may love your broker but if he is at Morgan Stanley you should be on the alert.Morgan Stanley's heart is based on the belief that your savings are there for them to earn commissions and fees. If you leave them, or heaven forbid, complain, then they will turn on you as a rapid dog. Best practice suggestion: Avoid Morgan Stanley!

Delbert is probably the least crooked of all the statewide elected officials. His authority is limited. The securities division does not have the criminal powers that most states' regulators have.

This "story" is somewhat misleading. The SoS settlement does not preclude these people from pursuing their own recovery against Morgan Stanley. The fact that FINRA arbitration, their avenue for individual recover, may be unfair has nothing to do with Sec. Hosemann.

Securities laws in this state are weak. The powers to regulate and prosecute by one agency are weak as well.

I would like to see Gilbert push the legislature to give him similar laws and powers to what they have in Alabama. I get their updates and that bunch is on the ball BUT they have the laws and powers to do so.

The last thing we need is to give Delbert any authority to prosecute or enforce that arrogabt, egotistical politician is the worst state official we have today. Can't manage his office because he runs off anh b ody that doesn't kiss his ring and his behind and agree with him and his always right opinion.

And if you think this legislature is going to listen to him, check out his track tecord. And it's not just this one - the same is true going back to his first term with McCoy's leadership.

How has Hilary Zimmerman kept his license?

9:50 I totally agree with you. Thank God for Elizabeth Warren for her work with the new Consumer Affairs (?) department and their efforts to do away with mandatory arbitration, , 5,000 word software licensing agreements, etc.

You know, I am always amazed that it appears the the American public, and especially Tea Party Republicans" believe that corporations, be it in pharmaceuticals, finance, travel, energy, etc., really act like that their number one priority should be to be fair to their customers and the public. Corporations, by definition, first allegiance and obligation (A&O) is to their stock holders. But to put it more succinctly, their A&Oto is to their "preferred" stockholders. Preferred stockholders who are the real "individuals and families" with power to determine the policies, practices and crimes of the corporations. Don't get mad at the government when Apple brags that it is avoiding U.S. taxes. Blame the Apple preferred stockholders. Don't get mad at the government when the car companies move jobs to Mexico. Get mad at the preferred stockholders who own the car companies. Don't get made at the faceless paper corporations and their hapless employee slaves. Get mad at the 1% that control the corporations. Rather, blame the 1% and the world wide "shadow government". Shadow government , or a similar moniker, was a term publicly used in speeches by Presidents, Roosevelt, Truman, and Eisenhower. When Kennedy said the same thing he was assassinated a month or so later (google for the text of the speech). I haven't heard or seen the term "shadow government", et al, used by a US president since.

The solution for the silent majority in America? I think the French and Russian revolutionaries had the last successful method of removing an entrenched "oligarchy". Kidnapping the so called royalty (including children), holding "royal" for ransom and chopping off heads, firing squads, etc.

Since we have Democracy and sports in America, the "new opiate of the masses, let's see if we can avoid the tragedies of history and chart a different, less violent path for change.

Meanwhile, "Love your neighbor as yourself".

Most of us are all in this together.

Don't get mad at all those 'preferred stockholders' FM. Check why Apple does their taxes overseas. Check why car makers move their production to other countries. The tax laws that were enacted by your Democratic government leaders several decades ago made it possible for Apple to protect their profits from taxes. And the guaranteed wages you and your buddies keep trying to raise cause companies to move their operations out of our country.

I trust that you are not advocating the kidnapping and killing the children of those that have succeeded in our country speaks for itself. And, it might cause many of your Democratic elected officials to lose their progeny.