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HomeHot New Magazine: Unsung Heroes: Truth, Support and Free Speech for Financial Advisors
Posted by Larry Doyle on July 10th, 2014 9:08 AM |
Information is everything.
The other day a reader left a comment with the following inquiry:
I would love to join any other advisors who have issues with FINRA. I am a former CPA.PFS financial advisor with Morgan Stanley. I too went through a long and expensive FINRA process.
In addition, we filed two whistle blower cases to expose MSSB’s unfair and unethical business practices. The difference, we have over thirty thousand pages of material collected in our case, including some damning e-mails. It is time that someone stood up to these firms who apparently believe that because they have unlimited access to shareholder money, they can always get their way. Let’s come up with some ideas on how to use the legal system if we can, and social media if we cannot, to educate the public on this travesty of a business model. One that cannot even tell its’ own clients that it will “act in their best interest.”
Any takers?
I am confident there are many takers, including those who have collaborated on a new magazine entitled Unsung Heroes: Truth, Support, and Free Speech for Financial Advisors: >>>>>>>>>>>> (more…)
Senator Warren Indicts Regulators ‘In Bed with Wall Street’
Posted by Larry Doyle on February 7th, 2014 10:06 AM |
“The question I’m asking is whether or not there’s adequate deterrent to prevent the largest financial institutions in this country from breaking the law,” Sen. Elizabeth Warren (D-Mass.) said at a Senate Banking Committee hearing today. “Right now, if financial institutions can just settle their claims out of court, and get a raise for settling them, then where’s the deterrent?”
Senator Warren pressed regulators about their current enforcement efforts, noting that the “the public has little confidence in regulators’ willingness to seek the kind of penalties that will actually deter future financial crimes.”
With those two statements, Senator Warren (D-MA) indicts the current scandalous practices if not outright corruption that lies at the intersection of Wall Street and Washington and provides the public’s concluding sentiment as detailed in In Bed with Wall Street. The clip runs a mere 6-minutes.
What to do about this? How about we start with the following:
1. Congress should launch a privately run Office of Whistleblower Protection.
2. Wall Street’s private police detail, that is the financial self-regulatory organization FINRA, should no longer have absolute immunity and should be subject to the Freedom of Information Act.
3. Wall Street arbitration should be optional and not mandatory so as to end the kangaroo court.
4. End the self-regulatory oversight of Wall Street.
5. BREAK UP THE ‘TOO BIG TO FAIL’ BANKS!!
Is anybody in favor of the ongoing cronyism and corruption that defines our current system?
Larry Doyle
Please order a copy of my book, In Bed with Wall Street: The Conspiracy Crippling Our Global Economy.
For those reading this via a syndicated outlet or receiving it via e-mail or another delivery, please visit the blog to view the embedded video clip and to comment on this piece of ‘sense on cents.’
Please subscribe to all my work via e-mail.
The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.
Judge Rakoff: Why Have No High Level Executives Been Prosecuted In Connection With The Financial Crisis?
Posted by Larry Doyle on November 14th, 2013 11:15 AM |
None other than Judge Jed Rakoff, who has heard many of the major financial suits brought over the course of the last few years, spoke the other day to the New York City Bar Association regarding the question so many in our nation still ask, “Why have no high level executives been prosecuted in connection with the financial crisis?”
In what might have been a fabulous foreword to my upcoming book, Rakoff skillfully delivers what I believe is an incredibly excoriating indictment of those within the Department of Justice,the SEC, and elsewhere. (more…)
Global Financial System: Dangerous and Dysfunctional
Posted by Larry Doyle on September 20th, 2013 8:55 AM |
I truly appreciate reading the work and gaining the wisdom of those with informed insights and opinions.
Where do I always find people of this ilk? At one of my favorite stops while navigating the economic landscape: Project Syndicate.
While various and sundry lapdogs from both sides of the political aisle and others well-schooled in the inner workings of the Wall Street-Washington incestuous thoroughfare are touting how our financial system has been reformed, let’s go down a less traveled path and see what a noted observer has to say on this topic. (more…)
Did We Waste The Crisis? Is the Pope Catholic?
Posted by Larry Doyle on August 13th, 2013 8:16 AM |
Well, here we sit almost 5 years later. Is there any doubt that in terms of utilizing the crisis to implement the necessary meaningful financial regulatory and structural reforms, we have, in fact, wasted this crisis? Come on, do we even have to ask?
Adam Davidson of The New York Times would seem to believe the same as he wrote the following in a recent commentary: (more…)
Tags: Anat Admati, bank leverage, banks borrow too much, Charles Calomiris, Did We Waste a Crisis Adam Davidson, did we waste the crisis, Dodd-Frank financial regulatory reform, financial regulatory reform, government rules are too confusing, is the Pope Catholic, Rahm Emanuel, Rahm Emanuel comment about crisis, the public has been misled, you never want a serious crisis to go to waste
Posted in financial crisis, General, Wall Street Washington Incest | 3 Comments »