It's a tale of two cities. While its certainly not the best of times at Beantown's Putnam Investments, it seems to be the worst of times for the employees at Strong Financial in Menomonee Falls, Wi. Both firms are heavily involved in the scandal plaguing the fund industry and have some striking similarities in circumstances. But their fates, and those of their workers, seem decidedly different.
At Strong, the outlook is bleak. Industry watchers and sources say that morale is plummeting at the firm and that employees there are both shocked at the revelations about founder Richard Strong, and awed at the predicament they now find themselves mired in.