* Merrill Lynch has spent $12.2 billion to settle cases involving various allegations including negligence and mismanagement of funds;
* Morgan Stanley has spent over $5 billion to settle 11 cases involving various allegations including failure to disclose material information to customers;
* Wachovia has spent over $9.5 billion to resolve allegations including misleading investors and conflicts of interest;
à ? UBS has spent $19.5 billion to settle 6 cases with various charges including misleading investors.
So much information is now out there but to what effect? What more do we need to know?
There is a time for research and a time for advocacy, a time to try to lobby in the suites and a time for marching in the streets. Students on US campuses and workers in Greece have been battling the effects of the crisis.
It is now time to go after the causes.
The public is open to acting. The most recent Zogby poll reports:
"# 32% of U.S. adults say they have "considered moving some or all of (their) banking from a large national bank to a community bank or credit union because (they) are unhappy with the policies or behavior of large national banks."
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