The federal Securities and Exchange Commission has charged a St. Louis brokerage firm and a former executive with defrauding five Wisconsin school districts by selling them risky investments funded mainly with borrowed money.
The SEC complaint against Stifel, Nicolaus & Co. and former Senior Vice President David Noack was filed in federal court in Milwaukee Wednesday.
A view of the scene from a distance as a banner, funded by a St. Louis-area woman, flies over New York City on Aug. 9. From this view it's difficult to read, but the banner reads "THANKS FOR THE DOWNGRADE. YOU SHOULD ALL BE FIRED!"
Lucy Nobbe was fed up with Congress, angry over the U.S. credit downgrade, and she wanted the world to know.
Now Nobbe, who sells municipal bonds, has become something of a celebrity, even a hero to many.
The 51-year-old divorced mother of two daughters from suburban St. Louis spent $895 to hire an airplane to fly over New York City on Tuesday pulling a banner that read: "THANKS FOR THE DOWNGRADE. YOU SHOULD ALL BE FIRED!"