Archive for the ‘Wall Street Washington Incest’ Category
Posted by Larry Doyle on April 23rd, 2012 7:28 AM |
Having been away for the weekend, I missed last night’s edition of 60 Minutes and thank a loyal reader who brought it to my attention.
How is it possible that even today an institution such as Lehman Brothers, which clearly engaged in accounting maneuvers designed to disguise its true financial position, is not pursued so real justice can be meted out?
We keep coming back to the same old question: Where were the regulators, both the SEC and FINRA? Pervasive evidence over the years continues to persist that our regulators were and are fully and totally captured as they served to protect Lehman and virtually every other major Wall Street firm. The fact that the SEC has still not chosen to pursue Lehman executives is a massive indictment of our financial regulatory system. This is not a difficult assessment to make. Enough with the sovereign immunity for the SEC and absolute immunity for FINRA. Put these institutions and appropriate individuals on trial along with the appropriate Lehman execs…and many more. The integrity of our nation is at stake.
Watch this 13 minute video and ask yourself the question, “Is our system corrupt”? (more…)
Tags: 60 Minutes story on Lehman Brothers, absolute immunity, Anton Valukas Lehman bankruptcy, Barack Obama, Ernst and Young Lehman Brothers, financial regulators, FINRA Lehman Brothers, integrity of the United States, Joe Biden, Lehman bankruptcy, Lehman Brothers failure, Lehman shell game, Matthew Lee Lehman accountant, regulatory capture, Repo 105, Richard Fuld, SEC Lehman Brothers, sovereign immunity, Steve Kroft 60 Minutes, Steve Kroft story on Lehman Brothers, the case against Lehman and financial regulators, Wall Street-Washington incest, what really happened at Lehman Brothers
Posted in General, Wall Street Washington Incest | 17 Comments »
Posted by Larry Doyle on March 27th, 2012 8:07 AM |
Has trading on inside information now come to an end in Washington?
Congress will pat itself on the back and trumpet the passage of the STOCK Act as an indication that Washington has heard the hue and cry of the people to stop insider trading by the sycophants—that is, our elected representatives and their staffs— in and around Capitol Hill. The vote of 96-3 in the Senate was a strong indication as to how important it was to pass this legislation.
Now that the legislation has passed, should we assume that Congress is no longer in the business of personally profiting from trading on inside information? Not so fast. (more…)
Tags: Angela Canterbury POGO Public Policy, Citizens for Responsibility and Ethics in Washington, inside information, insider trading in Congress, insider trading in Washington, Insider Trading Law Winks at Some Violations, Melanie Sloan, Norm Ornstein American Enterprise Institute, Osint Group, passage of STOCK Act, political intelligence firms, selling inside info in Washington continues
Posted in General, insider activity, insider trading, Wall Street Washington Incest | 2 Comments »
Posted by Larry Doyle on March 20th, 2012 9:01 AM |
Don’t believe anything that you read or hear and only half of what you see…
Almost from the outset of launching my blog back in early 2009, I coined the phrase the Uncle Sam economy to describe the massive presence and ultimate takeover of so many parts of our economy by the old man. I cautioned people that Uncle Sam was not a good business partner.
What makes a good business partner? Anybody involved in business knows there will be many times when you disagree with your partners. Disagreeing with partners will not kill a business relationship. What will kill a relationship? A lack of trust.
Given that we are all in business with Uncle Sam whether we like it or not, I ask, “Do you trust Uncle Sam?” (more…)
Tags: a lack of trust in America, can we trust the government, do you trust our government, do you trust Uncle Sam, game theory, Gary Aguirre, Harry Markopolos, how trustworthy is Uncle Sam, incredibly cynical about government, Kenneth Rogoff, Lan T. Pham, Neil Barofsky, question authority, trust in America, Uncle Sam economy, Wall Street-Washington incest, what makes a good business partner
Posted in General, Wall Street Washington Incest | 3 Comments »
Posted by Larry Doyle on March 13th, 2012 11:03 AM |
I will admit that having written extensively and aggressively about Wall Street’s self-regulator FINRA over the last three years, I did not think there was anything more I could see that would surprise me.
Today I am surprised, shocked, and saddened.
For those in our nation who have a semblance of decency and a desire to see due process reflected in legal hearings and financial arbitration, I believe you will be similarly dismayed.
The case to which I will refer strikes deep into the core of Wall Street arbitration. (more…)
Tags: 401-K fees, Broker Bankrupted by Kangaroo Court, financial regulatory reform, FINRA arbitration, FINRA Katherine Bayer, FINRA panel, how does Wall Street arbitration work, Mark Mensack, Mark Mensack Morgan Stanley, Mark Mensack whistleblower, Morgan Stanley 401-K business, regulatory capture on Wall Street, Wall Street arbitration, Wall Street whistleblower, Wall Street-Washington incest, who is Mark Mensack
Posted in FINRA, General, Wall Street Washington Incest | 23 Comments »
Posted by Larry Doyle on February 2nd, 2012 11:03 PM |
To know what is right and not do it is the worst cowardice. ~Confucius
Did the United States Senate do the right thing today and show real character in passing the Stock Act (Stop Trading on Congressional Knowledge Act…aka, Stop Insider Trading in Congress!!)?
Let’s come back to that question.
The simple fact is the Stock Act was first introduced SIX YEARS ago. How is it that this piece of legislation languished for so long and now passes the Senate by a vote of 96-3? (more…)
Tags: 60 Minutes show about STOCK ACT, a show about ARS scandal, ARS crisis, character is what you are when no one is looking, Confucius, Senate passage of Stock Act, STOCK Act, to know what is right and not do it is the worst cowardice, United States senate passage of STOCK Act
Posted in ARPS, ARS, Auction Rate Securities scandal, General, insider trading, Wall Street Washington Incest | 8 Comments »
Posted by Larry Doyle on January 21st, 2012 3:33 PM |
Years from now when people study what led to the greatest economic crisis since the Great Depression, they will have plenty of material to review. This is good.
Unlike our current era in which we clearly failed to learn from past crises, I hope future generations will not only study what led to our current crisis but then actually do something so it is not repeated. We have yet to begin that process.
On that note, let’s start right now to save our collective future. How so?
If we are to save our future, then let’s be brutally honest about our past and our present. (more…)
Tags: Barney Frank, FDIC, Federal Reserve, Franklin Raines, gretchen morgenson, Herb Moses, James johnson, Josh Rosner, Kit Bond, Novastar, ratings agencies, Reckless Endangerment is a must read, SEC, what caused our economic crisis, what led to our economic crisis
Posted in General, Wall Street Washington Incest | 7 Comments »
Posted by Larry Doyle on January 10th, 2012 6:37 PM |
My commentary the other day entitled Can Whistleblowers ‘Cross-Examine’ the SEC? received a fair bit of attention and some rather interesting comments. In light of the very fluid developments within the realm of financial regulation, I strongly recommend that post.
The primary concern I raised within that commentary – and hence the title – was that a key panel at the upcoming 39th Annual Securities Regulation Institute consists solely of industry insiders. Why might that be such a concern?
Well, one of the main critiques of our financial regulatory system made by many, including Harry Markopolos, has been the revolving door between our regulators and the industry.
Why is a revolving door such a concern? Stick with me here. (more…)
Tags: 39th Annual Securities Regulation Institute, Bernie Madoff, blowing the whistle on financial fraud, can Whistleblowers Cross-Examine the SEC?, Darcy Flynn, destroying files at the SEC, Deutsche Bank, Deutsche Bank's purchase of Bankers Trust, Don Bauder Snug and Smug at the Hotel Del, down goes Frazier, Gary Aguirre, Gary Lynch, industry insiders, January 20th conference Hotel del Coronado, lawyers behaving badly, Mary Jo White, mary Jo White Debevoise Plimpton, matt taibbi, NARA, national Archives and Records Administration, Northwestern Law, regulatory capture, revolving door, Richard H. Walker, Robert Khuzami, rotating door within financial regulation, San Diego Reader Don Bauder, SEC, Securities and Exchange Commission, Senate Judiciary Committee, Senator Chuck Grassley, Stephen M. Cutler JP Morgan Chase, Wall Street, Wall Street-Washington incest, whistleblowers
Posted in General, Wall Street Washington Incest | 10 Comments »
Posted by Larry Doyle on October 18th, 2011 5:11 PM |
Should the Tea Party and Occupy Wall Street try to join forces under the auspices that they have much more in common from a macro standpoint than what may differentiate them from a micro standpoint?
I would love to see these movements join together. I think a merger of these forces could lead to the third party our country so badly needs.
Comments left on my post yesterday, Let’s Merge the Tea Party and Occupy Wall Street, covered a wide scope of thoughts and opinions. I appreciated the range of views and personal experience with OWS shared by readers. I understand that a merged entity would certainly not fit easily into any sort of politically defined group as we have come to expect.
Isn’t that the point? Haven’t we allowed ourselves to be defined by the media and the political establishment? Isn’t it time that those who aspire for an unfiltered access to the truth turn the tables on the power bases in Washington, New York, and elsewhere? (more…)
Tags: could the Tea Party and OWS merge, how to start a third party in USA, Larry Doyle, let'sMerge Tea Party and OWS, Merger of Tea Party and OWS o, need for a third party, occupy wall street, OWS, pursuit of the truth, Sense on Cents, third party, unfiltered access to the truth, Wall Street-Washington incest
Posted in General, Occupy Wall Street, Wall Street Washington Incest | 9 Comments »
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