Archive for the ‘Mary Schapiro’ Category
Posted by Larry Doyle on April 8th, 2013 8:21 AM |
While taking a brief respite from writing last week, I was struck by a number of stories worthy of real attention. Some of these items have received a fair bit of focus, while others may have passed largely unnoticed.
I will reference these stories now and will certainly come back to many, if not all, of them in the near future. The items include:
1. In what might only be compared to trying to turn around the Titanic on one of your local streets, the Bank of Japan is launching a “quantitative easing on steroids” program. The goal of “all this juice” is to generate a 2% rate of inflation in the next two years from what has been a two-decade deflationary cycle. (more…)
Tags: bank of Japan program to promote inflation, Bank of Japan quantitative easing, Bill Cohan commentary on bank regulators, black swan, decline in the labor participation rate, deflation in Japan, disability claims, Japanese economy in deflation, Japanese equity markets, Joe Sciddurlo FINRA whistleblower, Joe Sciddurlo lawsuit against FINRA, Joe Sciddurlo questions authority at FINRA, lawsuit against FINRA, Nassim Taleb comment on Mary Schapiro, permanent underclass in America, quantitative easing on steroids, rural poverty, support for asset markets, urban graduation, yen carry trade
Posted in Banking Institutions, Economy, Education, Employment, FINRA, General, Mary Schapiro | 5 Comments »
Posted by Larry Doyle on December 3rd, 2012 8:19 AM |
Why is it that America suffers from a very real lack of leadership?
Many reasons, starting with the fact that we do not have many real leaders in the truest sense of the word. The lack of leadership goes beyond that, though. Regrettably, far too many of those charged with leading our nation are too concerned with appearances rather than standing on principle and doing the right thing. These people are not leaders. They are politicians and they get bought and sold everyday.
I shook my head this weekend when I read how our soon to depart “leader” of the SEC is concerned about her legacy in relation to pending implementation of the JOBS Act. Folks, you cannot make this stuff up. (I recommend a second barf bag before reading any further.) (more…)
Tags: anti-investor legacy, Mary Schapiro departure from SEC, Mary Schapiro JOBS Act, Mary Schapiro legacy, Mary Schapiro legacy at FINRA and SEC, Mary Schapiro Wall Street Journal article regarding legacy, Mary Schapiro's concern with her legacy, SEC Chief Delayed Rule Over Legacy Concerns
Posted in General, jobs, Mary Schapiro, SEC | 6 Comments »
Posted by Larry Doyle on November 27th, 2012 9:06 AM |
The news released yesterday that SEC chair Mary Schapiro is leaving her post comes as no surprise. There have been many indications over the past four years that Ms. Schapiro has not exactly ‘enjoyed’ the challenges that came with her position.
Her departure a full year before the end of her five year term has been met with standard gratuitous comments by many in the financial industry, atop Capitol Hill, and in the press.
What do I think of the reviews of Ms. Schapiro’s tenure at the SEC? (more…)
Tags: Elisse Walter new head of SEC, Mary Schapiro career, Mary Schapiro departure from the SEC, Mary Schapiro legacy, Mary Schapiro SEC and FINRA career, Mary Schapiro's departure from the SEC
Posted in General, Mary Schapiro, SEC | 23 Comments »
Posted by Larry Doyle on September 10th, 2012 9:09 PM |
Sense on Cents first crossed paths with current SEC chair and former FINRA head Mary Schapiro in mid-January 2009.
I have often thought Ms. Schapiro – more than any other single individual – knows where more of the bones are buried on Wall Street and throughout the incestuous Wall Street – Washington circle of influence and intrigue. I have tried to be fair but aggressive in questioning Mary’s lack of transparency on so many fronts.
Well readers, if reports circulating around Washington have a measure of truth to them, we will likely not have Mary to kick around all that much longer. (more…)
Tags: Mary Schapiro Amerivet Securities case, Mary Schapiro and ARS liquidation at FINRA, mary schapiro branded a liar by Richard Greenfield, Mary Schapiro career and legacy, Mary Schapiro career at SEC, mary Schapiro career at SEC and FINRA, Mary Schapiro Endgame, Mary Schapiro legacy, Mary Schapiro Luis Aguilar money market reform, mary Schapiro money market reform, mary Schapiro relationship with Bernie Madoff, mary Schapiro Standard Investment Chartered
Posted in FINRA, General, Mary Schapiro, SEC, Wall Street Washington Incest | 5 Comments »
Posted by Larry Doyle on January 3rd, 2012 10:22 AM |
Will we learn in 2012 if Mary Schapiro, current chair of the SEC, and other then senior executives at the Wall Street self-regulatory organization, FINRA, engaged in a fraud?
The case addressing this question, Standard Chartered v FINRA, has been appealed to the highest court in our land.
As such, one might think that most Americans would care to learn if our nation’s top financial regulator did, in fact, engage in a fraud which had a monetary value of between $175-$350 MILLION plus. That’s right, $175-350 million plus!! Not exactly chicken feed.
Why hasn’t this case received more attention? (more…)
Tags: abuse of capitalism, amicus brief on behalf of Standard Chartered, B-D Wants Supreme Court to Rule on FINRA Suit, Competitive Enterprise Institute, Consumer Action, control of media in United States, control of the media, Dan JAmieson Investment News, Did MAry Schapiro Engage in a Fraud?, financial frauds, FINRA, FINRA spokeswoman Michelle Ong, Ilya Shapiro of Cato Institute, Jack Norberg, Jonathan Kord Lagemann, Mary Schapiro, merger creating FINRA, NASD, NASD proxy statement, NYSE regulatory arm, PCAOB, POGO, project on Government Oversight, Scott Michelman Public Citizen Litigation Group, Standard Chartered v FINRA, United States Public Interest Research Group, United States Supreme Court, Wall Street-Washington incest, William Anderson of Cuneo Gilbert Laduca
Posted in financial frauds, FINRA, General, Mary Schapiro, NASD, SEC | 12 Comments »
Posted by Larry Doyle on June 17th, 2011 6:46 AM |

“Good corporate governance is a system in which those who manage a company — that is, officers and directors — are effectively held accountable for their decisions and performance. But accountability is impossible without transparency.”
Truer words were never spoken. The above statement very succinctly highlights a cornerstone principle of Sense on Cents. Whomever issued this proclamation would certainly seem to be a strong candidate for the Sense on Cents Hall of Fame. Regrettably not.
Our current SEC chair Mary Schapiro offered those pearls of wisdom in December 2009 and the Washington Post concluded its commentary SEC Tightens Rules On Investment Advisers, Corporate Transparency with that quote from Ms. Schapiro. If only Mary would practice what she preached. (more…)
Tags: accountability is impossible without transparency, accountability without transparency, Citizen for Ethics and Responsibility, Dodd-Frank, FINRA, finreg, Mary Schapiro, Mary Schapiro commitment to transparency, Michael Smallberg of POGO, need for transparency, Peter Mougey of PIABA, PIABA, practice what you preach, Public Investors Arbitration Bar Association, SEC, SEC exemption of FOIA, SEC FINRA Oversight, SEC Tightens Rules on Investment Advisers Corporate Transparency, securities arbitration, Sense on Cents Hall of Fame, Wall Street sro, Wall Street-Washington incest
Posted in FINRA, General, Mary Schapiro, SEC | 4 Comments »
Posted by Larry Doyle on July 20th, 2010 7:04 PM |
“If my aunt had balls, she’d be my uncle!!”
I love that line. I first heard it on the trading desk at Bear Stearns in the early ’90s. For the last twenty years, I have used the line often to counter those who would bemoan an outcome with the standard, “If only . . .” My response typically generates a healthy chuckle and we then move on.
At this point, I feel comfortable amending the line from above to “If my aunt had balls, she’d be Mary Schapiro.” Too harsh, you say? I think not. How so? (more…)
Tags: former SEC lawyer Genevievette Walker-Lightfoot, Genevievette Walker-Lightfoot interview on Sense on Cents, Madoff Ponzi scheme, Madoff's Ghost Still Haunts SEC, Mary Schapiro comment July 20 2010, Mary Schapiro comment on Madoff investigation, Mary schapiro comments WSJ July 20 2010, Mary Schapiro July 20 2010 <a, Schapiro relationship with Bernie Madoff, SEC Chair mary Schapiro
Posted in Bernie Madoff, General, Mary Schapiro | 5 Comments »
Posted by Larry Doyle on May 26th, 2010 9:14 AM |
Does anybody still read Time magazine?
I would expect that Time is likely now relegated to 9th grade Civics classrooms given the depth of reporting embodied in the recent cover article, The New Sheriffs of Wall Street.
If Time would like to be considered a serious publication, they should dig a little deeper prior to reporting this sort of powder puff commentary. Time rightfully does address the fact that Wall Street has been a bastion of male domination. Additionally, they pay proper respect to FDIC Chair Sheila Bair and Tarp watchdog and consumer advocate Elizabeth Warren, but they fall woefully short in their characterization and review of SEC Chair Mary Schapiro.
In this article, Schapiro would clearly like to portray herself as tough as nails on Wall Street while protecting the interests of investors. As Time highlights: (more…)
Tags: Bloomberg Susan Antilla, Elizabeth Warren, FINRA, finra liquidation of ars, how Does It Help Investors, Judge Jed Rakoff, Mary Schapiro, Mary Schapiro tenure at FINRA, Muammar Gadaffi Kim Jong-il Bashar Al-Assad Robert Mugabe, Muammar Gaddafi of regulation, NASD, Office of Compliance Inspections and Examinations, SEC OCIE, Sheila Bair, Standard Chartered v FINRA, The New Sheriffs of Wall Street, This Wall Street Lady Enforcer Shoots Blanks, Time Magazine
Posted in General, Mary Schapiro | 5 Comments »
Posted by Larry Doyle on April 20th, 2010 1:10 PM |

Edwin P. Morrow, Chairman & CEO of IARFC
I am heartened when great Americans across our country are willing to stand up and lash out at those involved in the Wall Street-Washington incest. I crossed paths with just such an American this morning in Ed Morrow, the chairman and CEO of the International Association of Registered Financial Consultants, a non-profit educational society for the financial planning industry.
Ed wrote to his representaitve John Boehner (R-OH) on financial regulatory topics which he feels are vitally important to his members. I thank Ed for his courage to speak his mind and his willingness to let me run his letter here at Sense on Cents. Thank you to our great American Ed Morrow for writing the following: (more…)
Tags: Ed Morrow, Ed Morrow writes to John Boehner, financial planning education, financial regulatory reform, FINRA liquidation of auction-rate securities, International Association of Registered Financial Consultants, Investigation of the SEC's Response to Concerns Regarding Robert Allen Stanford's Alleged Ponzi Scheme, is SEC charge against Goldman Sachs a cover, Judge Jed Rakoff Standard Investment Chartered, Mary Schapiro board seat with Kraft and Duke Energy, Mary Schapiro board seats, Mary Schapiro's tenure at FINRA, OIG-526 Report, SEC FINRA NASD, SEC OIG review of Allen Stanford Ponzi scheme, Sense on Cents, Wall Street-Washington incest, where to learn about financial planning, who is Ed Morrow
Posted in FINRA, General, Mary Schapiro, SEC | 6 Comments »
Posted by Larry Doyle on March 2nd, 2010 10:40 AM |
Judge Jed Rakoff’s ruling to dismiss the complaint by Standard Investment Chartered v FINRA based on the regulator having absolute immunity generated a consistent response from readers and colleagues. What is the theme of that response?
A comment by Bill, a loyal Sense on Cents reader, seems to sum it up best:
Interesting that FINRA has the benefit of a quasi governmental entity, i. e. immunity, but not the customary burden of a governmental entity–transparency. Otherwise known as a license to steal. (more…)
Tags: absolute immunity without transparency, financial regulation, FINRA books and records, FINRA immunity, FINRA lawsuit, immunity, Mary Schapiro, Rakoff ruling for FINRA, regulation on Wall Street, Standard Investment Chartered v FINRA
Posted in FINRA, General, Jed Rakoff, Mary Schapiro | 2 Comments »
Stories Deserving More Attention: Did You See This?
Posted by Larry Doyle on April 8th, 2013 8:21 AM |
I will reference these stories now and will certainly come back to many, if not all, of them in the near future. The items include:
1. In what might only be compared to trying to turn around the Titanic on one of your local streets, the Bank of Japan is launching a “quantitative easing on steroids” program. The goal of “all this juice” is to generate a 2% rate of inflation in the next two years from what has been a two-decade deflationary cycle. (more…)
Tags: bank of Japan program to promote inflation, Bank of Japan quantitative easing, Bill Cohan commentary on bank regulators, black swan, decline in the labor participation rate, deflation in Japan, disability claims, Japanese economy in deflation, Japanese equity markets, Joe Sciddurlo FINRA whistleblower, Joe Sciddurlo lawsuit against FINRA, Joe Sciddurlo questions authority at FINRA, lawsuit against FINRA, Nassim Taleb comment on Mary Schapiro, permanent underclass in America, quantitative easing on steroids, rural poverty, support for asset markets, urban graduation, yen carry trade
Posted in Banking Institutions, Economy, Education, Employment, FINRA, General, Mary Schapiro | 5 Comments »