The Latest Scam – $100 Trade Confirmation Fees

I have a vicious piece up at the Wall Street Journal today about a new method the brokerage biz came up with to make the cost of doing business even costlier (yes, this is the model)…

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Do you know anyone in the infomercial business?  Go ask them how they can possibly give away “not one, but TWO!” of each item, be it potato peeler or miracle meatslicer.  The answer is that they make all their profit in the “shipping and handling” figure.  By throwing in a second item “for free” they get to charge that $9.95 S&H fee twice.  Get it now?

So there ya go, you’ve learned something today…now keep that to yourself so Judy the TIME Life operator doesn’t lose her job and add to the already out-of-hand unemployment epidemic.

Anyway, some of the last remaining transactional retail brokerage firms have learned this trick as well…

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