You almost have to feel sorry for stockbrokers these days. When they are not being blamed for the downfall of modern society and accused of destroying all the wealth we spent the past decade of boom building up, they are taking second jobs just to try to make ends meet.
Almost half of all the brokerages in this country have closed down since the bears came in and stopped all their fun, putting hundreds of hard-working salesmen out of work.
One local broker, from a once highly active firm on the Abu Dhabi Securities Exchange, revealed last week that he was still getting by on commissions he reaped in the heady days of 2006 and 2007. That means he hasn't had a meaningful quarter's returns for the best part of half a decade.
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