Morgan Stanley Fined Over Sept. 11 Lost E-Mail Claim (Update4)
By David Scheer
Sept. 27 (Bloomberg) -- Morgan Stanley, the second-largest securities firm, will pay $12.5 million to settle regulatory claims it wrongly withheld e-mails in arbitration cases by saying they were lost in the Sept. 11 attacks, the company's third sanction since 2002 for mishandling the records.
The firm's Morgan Stanley DW subsidiary failed on ``numerous occasions'' to produce e-mails for plaintiffs and regulators, the Financial Industry Regulatory Authority said in a statement today. The accord is the first of its kind, providing $9.5 million to claimants affected by the lapses, said Finra, the Washington-based brokerage regulator.
The government already sanctioned Morgan Stanley twice for mishandling electronic messages under former Chief Executive Officer Philip Purcell. Last year, it paid a record $15 million to settle a Securities and Exchange Commission probe of deficient e-mail preservation. In 2002, the SEC and other regulators faulted the New York-based firm for destroying e-mails and backup tapes.
``Hiding behind the events of Sept. 11 to avoid litigation obligations is unseemly,'' said Steven Caruso, president of the Public Investors Arbitration Bar Association and a partner at the New York office of Maddox Hargett & Caruso PC. ``This sets a new standard for how low a firm will go to take advantage of their clients.''
Daughter-in-law of NYC politician dies in Ariz. police custody
9/30/2007, 11:50 a.m. EDT
By KAREN MATTHEWS The Associated Press
NEW YORK (AP) — The stepdaughter-in-law of the city's public advocate, found dead in a police holding cell in Arizona, was a "wonderful" woman and mother, Betsy Gotbaum said.
Gotbaum, the public advocate, spoke briefly to media across the street from her Manhattan building on Sunday, two days after Carol Anne Gotbaum was found in the cell where she had been taken in handcuffs after being arrested at an airport.
Authorities were investigating if Carol Anne Gotbaum choked herself while trying to get free from the handcuffs.
Dividing the 9/11 Truth Movement
Despite their efforts to discredit the truth, one day it will come out... below is a report of the attempts by the 'anti truth movement' to hide the facts...
The Goals: Discredit, Divide and Conquer
What all other front-line reporters of the 9/11 Truth movement, like Kurt Nimmo, Michael Rivero, Justin Raimondo, Alex Jones and so many more have experienced, has finally happened to Christopher Bollyn as well: being stabbed in the back by a couple of guys who had pretended to be allies, by agents Smith and Hufschmid.
Burma: Thousands dead in massacre of the monks dumped in the jungle 01.10.07
Thousands of protesters are dead and the bodies of hundreds of executed monks have been dumped in the jungle, a former intelligence officer for Burma's ruling junta has revealed.
The most senior official to defect so far, Hla Win, said: "Many more people have been killed in recent days than you've heard about. The bodies can be counted in several thousand."
The monk's tale: 'We cannot turn back'
9/11: Unusual volumes on Put Options just before the attack. Swiss study
Are Cancer Cures Being Hidden From the Public?