13 EF Hutton and check-kiting
EF Hutton was once one of the most recognized and respected brokerage firms in the United States. Clients interested in investing in the stock market would flock to EF Hutton. In 1985, EF Hutton created a crisis through mismanagement that eventually resulted in the end of its brand. This chapter provides details about the check-kiting crisis that derailed EF Hutton.
Background on EF Hutton
EF Hutton was a brokerage firm founded in 1904 by the brothers Edward Francis Hutton and Franklyn Laws Hutton. A brokerage firm buys and sells stocks, options, bonds, and other financial products for its clients. Clients invest money with the brokerage firm, and the brokerage firm ideally ...
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