I'm just middleman.

And so what is the transaction cost?

Forget about him.It's not about the broker.

He's a stockbroker.

But his broker is nowhere to be found.

He said,forget about the broker.

He was one of the broker's assistants.

Richards was an assistant to frobisher's broker.

He's a black market trafficker, high end.

Brokers made a killing because of the high yen.

What do you know about his personal life?

You've probably heard the term sell side and buy side.

Ηe even acted as the blackmarket broker.

Somehow Frobisher communicated with his broker down in Palm Beach.

Wait. Gregory,just give me a name,okay? Was frobisher's broker in the car?

Roger was tasked with auditing the brokers in his department.

Roger was tasked witauditing the brokers in his department.

Arthur Frobisher's dossier, and his broker, Gary Genow.

And he owes this is his asset, and his liabilities is he owes one share of IBM to the broker.

So this is my brokerage, this is my broker, and this is me right here.

I have a top hat.

We met with his attorney. Also interviewed the broker who placed the short sale of IRT stock.

Cut out the middleman. Run our own game.

(Charles) They arrested a middleman who was transporting the materials.

So it's beneficial to them.

And if ever, one day, this guy wanted to sell his share of

And they keep their shares of IBM with the broker.

So let's see how that works.

Hopefully that won't be the case in 10 years and the internet will dis intermediate real estate brokers, but who knows.

But you can also view it as renting a share.

I would like let's just say for simplicity I want to short one share of IBM.

It's a brokerage account for people managing 100 million and not their E Trade account.

A lot of people are angry,and they blame their brokers.

No, they're selling ads to financial services companies.

The victim is james medina,44,stockbroker,out of highlands.

My husband was a stockbroker, and nowadays,that's like being a professional gambler.

And you might say well, where's the broker getting it from?

LynchHalstead were her brokerage firm for a while. Just a coincidence.

So all of the people who trade through that bank, all of the institutional clients, all of the hedge funds that have their prime brokerage accounts at those banks.

We interviewed club members, guests and employees, but no sign of his broker.

And the broker really owes it to one of the shareholders of

His eyes were strange.

Or they're selling their services I mean, usually they're brokerage services, so they're trying to get people to transact, they're actually brokers on some level.

I quietly take out my camera, so as not to be noticed by my photographic subject, and peek through the finder.

He forced us to keep investigating frobisher's stock broker months after it was clear that it would be a dead end.