Posted by Larry Doyle on March 7th, 2014 1:51 PM |
Why do I anticipate reading and reviewing this report so much? Because we are a nation of laws and not of men. At least I think we are . . . although sometimes I wonder. As the WJP highlights:
“Effective rule of law helps reduce corruption, alleviate poverty, improve public health and education, and protect people from injustices and dangers large and small,” said William H. Neukom, WJP Founder and CEO. “Wherever we come from, the rule of law can always be strengthened.” (more…)
Posted by Larry Doyle on March 7th, 2014 10:06 AM |
Not that we needed any more evidence that Wall Street’s primary self-regulator is a challenged organization when it comes to protecting investors, but in a lead commentary in today’s Wall Street Journal we get it:
The Financial Industry Regulatory Authority “routinely” strips out some possible red flags on brokers from its database in the information it makes available to investors, according to a study released Thursday by an organization of lawyers who represent investors in claims against brokers. (more…)
Posted by Larry Doyle on March 7th, 2014 7:05 AM |
I inadvertently overlooked a recent commentary written by a Sense on Cents favorite, Simon Johnson, that ran at Project Syndicate.
Johnson writes a fabulous piece entitled Truth From the Top highlighting the work of former Fed governor Thomas Hoenig about just how fragile our banking system truly is and how the politics of promoting the ‘too big to fail’ model have persisted. Let’s navigate.
It is unusual for a senior government official to produce a short, clear analytical paper. It is even rarer when the official’s argument both cuts to the core of the issue and amounts to a devastating critique of the existing order. (more…)
Posted by Larry Doyle on March 6th, 2014 5:02 AM |
In what would appear to be a classic case of pandering to the public while allowing Wall Street to effectively write its own set of rules and ‘reforms’, we witness this bait and switch tactic within the legislation pitched to the American public as having brought meaningful transparency to the derivatives markets.
Yes, that quadrillion (thousand trillion) sized market with 95% of the concentration in the 5 largest ‘too big to fail’ banks.
Posted by Larry Doyle on March 5th, 2014 4:07 AM |
The abbreviated definition of insider trading is “the buying or selling of a security by someone who has access to material, nonpublic information about the security.”
Who could possibly be more “inside” than an individual who is in the position to take action against a company, that is employees of the Securities and Exchange Commission?
In another edition of “You Can Not Make This Stuff Up,” a recent paper highlights how employees at the SEC are superb in terms of their stock trading and specifically their stock selling skills. Let’s navigate. (more…)
Posted by Larry Doyle on March 4th, 2014 12:51 PM |
Posted by Larry Doyle on March 4th, 2014 7:06 AM |
With all eyes in the markets, if not the world, focused on the ongoing crisis developing in the Ukraine and its southern peninsula known as Crimea, let’s navigate and gain a greater understanding as to the geographic, economic, and political importance of this region.
Crimea is a short, 2 hour plus flight from Moscow or perhaps a daylong ride given that it is approximately 2300 miles/1400 km due south. More importantly than the proximity of Crimea to Moscow is its geographic location. (more…)
Posted by Larry Doyle on March 3rd, 2014 8:55 AM |
Perjury is a very serious offense or at least it is supposed to be.
If our system of justice and Congressional oversight do not uphold the law against those who commit or may have committed perjury, what does that say about the rule of law in our nation?
In my opinion, a situation in which perjury occurs and goes unpunished is another nail in the coffin holding the American ‘rule of law.’
To this end, let’s navigate and look a little deeper into a high profile case centered on Wall Street in which the immediate question begs whether Credit Suisse CEO Brady Dougan committed perjury in providing Congressional testimony last week. (more…)
Posted by Larry Doyle on February 28th, 2014 8:54 AM |
I could not possibly recommend more strongly the viewing of this recently released documentary on PBS Frontline. The issues addressed are almost too numerous to properly categorize, but at the core is scandal and corruption at the highest level of the Catholic Church.
I will pray for Pope Francis that he is successful in cleansing the church of those deeply ensconced within it who have engaged in corruptible practices.
The comments attached to this documentary are also worth reviewing. I found this one to be of particular interest:
A remarkable program about the Vatican. We need a similar one on Wall Street, the US Congress and the United Nations.
I thought of INTOXICATION stemming from SEX, MONEY, SUBSTANCES, POWER, RELIGION and KNOWLEDGE. It would be a mistake to see all that this great Television exposed without some introspection on intoxication and what we encounter before a mirror.
The documentary runs for about 80 minutes. I hope those navigating these parts will find the time to view it and share it.
Please order a hard copy or Kindle version 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 this video and to comment on this piece of ‘sense on cents.’
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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.