Sense on Cents

The penalties handed out by NFL Commissioner Roger Goodell to the coaches and executives of the New Orleans Saints organization for the bounty program practiced down on the bayou were perhaps the stiffest in the history of the game.

Goodell has shown himself to be a no-nonsense individual cut from the mold of Kenesaw Mountain Landis. Goodell is clearly focused on protecting the sport, and knows that any program which promotes an intent to injure renders modern day football to little more than barbarism.

What does Goodell appreciate and what did Landis embody? In layman’s terms, both the current NFL commissioner and the long since deceased baseball judge knew that, above all else, they needed to maintain the integrity of the game.

If only those on Wall Street and in Washington overseeing our financial markets had the same principles.

What would Goodell and Landis think about some of the practices and penalties we have witnessed on Wall Street over the last few years? Token fines. Neither admitting nor denying guilt. The targeting of individuals (Raj Rajaratnam and the like) while conveniently overlooking the executives within the institutions involved in obvious organized activities.

I do not pretend to think that Goodell or Landis are total paragons of virtue. Certainly, modern day football and baseball over the years have had more than their fair share of problems.

That said, I commend Goodell and Landis for knowing and upholding the public trust in the integrity of the game.

Mary Schapiro, Preet Bharara, Richard Ketchum, Jamie Dimon, Lloyd Blankfein, Robert Khuzami, Spencer Bachus, Chuck Schumer, James Gorman, Jon Corzine, Albert Loewenthal, Brian Moynihan, Darrel Issa, Jim Himes, Richard Blumenthal, Eric Holder, Timothy Geithner, Ben Bernanke, President Barack Obama et al . . . are you listening?

To those reading this commentary: Whom do you believe deserves to be penalized by our financial commissioners? If you were financial commissioner, what type of penalties would you deliver?

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Do your friends, family, and colleagues a favor and get them to do the same. Thanks!!

I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets, our economy, and our political realm so that meaningful investor confidence and investor protection can be achieved.

Larry Doyle 

This entry was posted on Thursday, March 22nd, 2012 at 5:31 AM and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.