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Posts Tagged ‘failure of financial regulation’

Joe Saluzzi Exposes ‘Theft on Wall Street’

Posted by Larry Doyle on May 14th, 2010 9:17 AM |

Themis Trading’s Joe Saluzzi was designated a Sense on Cents Hall of Fame medalist this past January. Mr. Saluzzi has once again distinguished himself by providing a significant degree of transparency into the technical structures of our seriously flawed equity exchanges.

A recently released white paper, Exchanges and Data Feeds: Data Theft on Wall Street,written by Joe and his colleague Sal Arnuk at Themis Trading is getting a LOT of attention on Wall Street and in Washington. I welcome highlighting and bringing this 3-page paper to Main Street. If you have any interest in the markets and our economy, this paper is a MUST read. Allow me to whet your appetite: (more…)

Muni Payoffs or, Once Again, Wall Street Screws Main Street

Posted by Larry Doyle on March 26th, 2010 3:13 PM |

If you think there was fraud involved in the underwriting of mortgages, then you ain’t seen nothing yet. If there is one sector of Wall Street that has notoriously been connected with fraudulent activities it is the municipal bond sector. Why is that?

Very simply, when you have individuals who are earning municipal salaries (high 5-figures to low 6-figures) awarding bond deals which generates millions in fees for Wall Street underwriters, then it is not hard to understand that those municipal employees are going to have their hands out looking to get ‘greased.’ Who really pays for that grease? You and me. (more…)

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