Posted by Larry Doyle on July 3rd, 2014 7:26 AM |
Selling counterfeit stock would seem to be a nefarious undertaking worthy of meaningful exposure.
A recent suit against the SEC under the Freedom of Information Act looks to do just that. Let’s navigate as the law offices of highly acclaimed and widely respected SEC whistleblower Gary Aguirre recently released the following statement:
Lawsuit seeks to tear down SEC’s veil of secrecy
Journalist Mark Mitchell has filed a lawsuit under the Freedom of Information Act against the Securities and Exchange Commission (SEC) to obtain the agency’s investigative files relating to more than a dozen aborted investigations and cases involving naked short selling. (more…)
Posted by Larry Doyle on March 15th, 2013 5:17 AM |
Do you ever think that politicians speak out of both sides of their mouth? Well, we know they do.
What do you make of the fact that our wizards in Washington during the current administration have passed pieces of legislation that would appear to be diametrically opposed to actual actions taken?
Standard double-speak, double-act? Let’s give credit where it is due to the folks at the Project on Government Oversight for highlighting the “bipolar” nature of our “governments” in Washington via the following pictorial: (more…)
Posted by Larry Doyle on July 17th, 2012 7:49 AM |
A few days ago I received a comment from a regular reader which really resonated with me. In response to my commentary recommending that people be required to complete high school or the equivalent as a prerequisite to receiving any form or substance of government assistance, this reader wrote,
“It’s about time you came up with an issue that is fixable…”
Despite the fact that I fervently believe all the issues I broach are fixable if the requisite transparency is applied and the subsequent truth is embraced, I understood the reader’s point and he got me thinking.
Does anybody doubt that our politicians are all too often engaged in chasing their tail and looking for campaign funds? While those in Washington talk to themselves and their cronies, let’s direct our own focus and generate what I would deem as “Solutions for America.” Your assistance and support in this exercise and effort is requested and appreciated. (more…)
Posted by Larry Doyle on April 2nd, 2012 5:53 AM |
Freedom makes all things possible, right? No question.
Information is everything, correct? Also true.
As we pursue the American dream, our ability to access information in order to assess risks and opportunities is paramount to our ultimate success. I personally find this truth to be self-evident. Melding these two basic principles, at this point in our nation’s history, how free is information? Obviously, not all information is free and accessible. In matters of national security, our interests are served by protecting plenty of information.
However, what about other basic information in regard to Uncle Sam’s interactions and exchanges on Wall Street? (more…)
Posted by Larry Doyle on September 18th, 2010 12:14 PM |
LD’s edit: Thank you to a Sense on Cents reader, Transparency, for informing us that Senate Judiciary Committee Approves Bill To Repeal SEC FOIA Exemptions.
Thanks to a loyal reader of Sense on Cents for sharing this press release put forth earlier this week. Not that the Republican Party does not have a LOT to answer for in terms of the final Financial Regulatory Reform, but at least on this front, I commend Darrell Issa (R-CA) for introducing this legislation.
Issa Introduces the SEC Freedom of Information Restoration Act
President Obama at Signing of Financial Reform Bill: “It demands accountability and responsibility from everyone…It demands accountability and responsibility from everyone…And we all win when folks are rewarded based on how well they perform, not how well they evade accountability.” (more…)
Posted by Larry Doyle on September 17th, 2010 8:03 AM |
I truly believe this could be the single most important and enlightening commentary ever put forth at Sense on Cents. Although it is a little lengthy and has some legalese, if you care about truth, transparency, and integrity in our nation, take the time to read and review. You will be better for it. I encourage you to share it with friends and colleagues.
Washington still does not get it.
I strongly believe the deeply embedded Wall Street-Washington incestuous relationship was central to the erosion of our economic foundation. While that incest must be extirpated if we are to regain our economic standing, we continue to suffer through “show trials” dealing with the critically important topic of pursuing transparency across our political and financial landscape. Regrettably, the media in general provides limited coverage to this ongoing pursuit. To that end, I welcome banging this drum and engaging those in our nation who will ask the hard questions and put forth aggressive propositions so real transparency can be achieved. Even if the pursuit comes up short, the effort and goals are beyond worthy. Let’s navigate.
Yesterday, the House Financial Services Committee chaired by Barney Frank held a hearing to address the SEC’s exemptions from Freedom of Information requests embedded in the Financial Regulatory Reform legislation. Congressman Frank rolled out the red carpet to SEC Chair Mary Schapiro. From the testimony, Frank offers: (more…)
Posted by Larry Doyle on August 5th, 2010 4:22 PM |
Gary Aguirre is a great American.
To those who closely follow the markets, economy, Wall Street, Washington and global finance, Gary Aguirre needs no introduction. For those not aware of how great an American Mr. Aguirre is, let me inform you that he truly distinguished himself as an attorney both while working at the SEC and after he was unceremoniously pushed out of the SEC.
Was Aguirre let go by the SEC because he was another pawn in the Wall Street-Washington incestuous process? NO, anything but! Gary Aguirre flew in the face of the Wall Street-Washington incest and doggedly fought for justice in exposing an insider trading case against Arthur Samberg of Pequot Capital. Even after being pushed out of the SEC, Aguirre continued his pursuit of justice in the Pequot case.
What was the result? (more…)
Posted by Larry Doyle on August 4th, 2010 7:29 AM |
Washington and Wall Street are skilled at utilizing smoke and mirrors to advance their collective agenda. The simple fact is most of our Washington operatives do not understand basic financial concepts. The reality of the situation is that our supposed leaders are content to remain blind to the realities of finance as long as Wall Street continues sending campaign funds their way.
Fortunately, others in our nation take a more impassioned view of the world and aggressively question where Washington often passes. To this end, I thank a friend who shared the following letter highlighted today at the Project on Government Oversight on our new favorite topic about the lack of transparency at the SEC.
This letter is comprehensive in addressing a number of critically important points. Do you ever wish that we could have representatives from these organizations questioning not only our elected officials, but also our appointed officials such as Mary Schapiro? I wish that all the time. Please take a few minutes to ponder the issues embedded in this letter. Ask yourself whom you really believe are protecting your interests.
August 3, 2010
Senator Christopher Dodd
Senate Committee on Banking, Housing and Urban Affairs
534 Dirksen Senate Office Building
Washington, D.C. 20510 (more…)
Posted by Larry Doyle on July 30th, 2010 4:08 PM |
Earlier this week, the SEC informed Fox Business News that it would not comply with a request for information based upon SEC Financial Regulatory Law H.R. 4173. Fortunately, some people in our country still care about transparency, accountability, and integrity. To this end, thank you to a friend of Sense on Cents for sharing this recent release:
It brings the SEC back under the Freedom of Information (FOIA) Act after the Dodd-Frank financial reg bill provided them with an exemption.
ISSA INTRODUCES THE SEC FREEDOM OF INFORMATION RESTORATION ACT (more…)
Posted by Larry Doyle on July 29th, 2010 7:10 AM |
Is the SEC’s Inspector General David Kotz looking for a new job? How about SEC Head Mary Schapiro? Is she also looking for a new job?
Why do I ask? Is America aware that the new Financial Regulatory Reform bill, recently passed by Congress and signed into law by President Obama, will effectively close the doors and shut the blinds at the SEC in terms of people being allowed to gain access to information? Why and how do situations like this happen? Let’s navigate.
Fox News highlighted this travesty yesterday in writing, SEC Says New Financial Regulation Law Exempts It from Public Disclosure:
So much for transparency. (more…)