Brookstreet on the Hot Seat Again

The SEC is now accusing Stanley Brooks, fondly known as “Uncle Stan,” of fraud. Brooks is said to have sold unsuitable CMOs totaling $300 million. He’s the most recent, and most high-profile Brookstreet Securities representative to come under fire. Perhaps they simply misunderstood their investors’ risk tolerance. See the whole story in Investment News. http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20091209/FREE/912099981/1094/INDaily01