FINRA, the Financial Industry Regulatory Authority, issued a statement yesterday saying that it has fined three companies, including CIBC World Markets Corp., TradeStation Securities, Inc., and E*Trade Securities.

Ladenburg Thalmann (AMEX: LTS) yesterday reported results for the first quarter ended March 31, 2008. The financial services provider posted a net loss of $1.03 million, a penny per diluted share.

Shares of New York Stock Exchange listed Friedman Billings and Ramsey (NYSE:FBR) have lost 22% of their value in less than 3 trading sessions. Countrywide (NYSE:CFC) and Thornburg Mortgage (NYSE:TMA) share prices are also underwater for the week.

If you had given your savings to a stockbroker from Ocean County named Brian D. Winters between August 2002 and September 2003, you would have made probably the biggest mistake in your life.