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Posts Tagged ‘financial regulatory reforms’

Sense on Cents Financial Reform

Posted by Larry Doyle on May 21st, 2010 9:05 AM |

In the midst of all the legislative wrangling in Washington and the financial gyrations on Wall Street, what does it all mean for everyday American investors? I am not so sure it means all that much. How much are everyday Americans impacted by proprietary trading, derivatives, merged regulators? Very little actually. I am not writing this to discount the proposed financial regulatory reform coming out of Washington, but I remain underwhelmed that it will truly protect everyday investors from the ways of Wall Street.

To this end, I am happy to propose my own Sense on Cents Financial Reforms which I believe regulators should impose on financial intermediaries (brokers, bankers, money managers, et al). I am not only proposing these reforms here, but I am sharing them today with Washington based financial regulators. In deference to my readers, you’re getting the first look. Feel free to share your thoughts on my proposed reforms, and add others which you believe should be implemented. (more…)

Wall Street Meets Main Street at the Courthouse

Posted by Larry Doyle on September 8th, 2009 8:50 AM |

With the gap between Wall Street and Main Street never wider, the American public is left wondering who truly is looking out for their interests. The Wall Street lobbying machine is working overtime to dilute real regulatory reform. The financial regulators themselves are increasingly exposed as overmatched and incompetent, if not worse. Where can the American public turn to get some relief? Slowly but surely the courts are taking action to address the gross injustices that the American public has had to bear at the behest of Wall Street and with the protection of Washington.

Make no mistake, the slope of the mountain of injustice is quite steep. Furthermore, we are just starting the trek. Little doubt there should be many stops along the way. You can rest assured that the Wall Street lawyers and financial lobbyists are working diligently to put out the smoldering ruins of fires and campsites which wreaked havoc upon our economic landscape. There appears, however, to be mounting evidence that the Wall Street fires were fed by Washington and financial regulators looking the other way.

Bloomberg highlights some initial progress made on behalf of the American public in the fight for truth, transparency and integrity on our financial and economic landscape. This morning Bloomberg writes, Judges Punish Wall Street as Regulators Just Talk About Reform:

As the White House and Congress debate how to regulate financial firms to avoid another economic crisis, judges have assumed the point position in punishing Wall Street for causing the worst recession since the 1930s.

The executive and legislative branches have been discussing reforms such as more regulation of hedge funds and transparency for derivatives as a response to the financial crisis that began a year ago. As that battle with a reluctant Wall Street inches forward about how to prevent another disaster, judges are taking the first steps toward the same goal, punishing executives and issuing rulings with national impact.

I can only hope the momentum in the courtroom accelerates given the slow and painstaking rope-a-dope game being played out between Wall Street and Washington. Wall Street clearly wants a ‘mulligan’ from the excessive improprieties that led to our current economic crisis. The courts are starting to get wise and adjudicating otherwise. Bloomberg highlights some recent rulings for the public and against the Wall Street-Washington cabal including: (more…)






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