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Posts Tagged ‘lack of quality control on wall street’

Duncan Niederauer and “5 Guys Named Vinny”

Posted by Larry Doyle on January 9th, 2012 10:09 PM |

I had to chuckle yesterday morning when reading a comment that came in regarding my recent commentary on high frequency trading.

Eddie wrote,

Plain and simple for years I was taught it was not only unethical but illegal to intentionally manipulate stock prices. The only intention of HFT is to do just this.

Joe and Sal are correct when they say the people that are supposed to regulate this behavior are now in their pocket. For years the NYSE protected the Specialists and the public was assured that orders were being handled properly and the SEC audited the exchange and all of these firms quarterly.  (more…)

Where and When Did Wall Street Go Wrong?

Posted by Larry Doyle on June 23rd, 2011 8:32 AM |

You do not need to read Sense on Cents to know that Wall Street and America have problems. That said, the future of both the financial services industry and our nation are inextricably linked.

The innovative ideas which our nation must generate to drive future growth and employment require capital. Wall Street has that capital. In my opinion, Wall Street needs to seriously refine the use of its capital for its own benefit and that of our nation.

Can Wall Street adapt? Does Wall Street understand the errors of its ways? When might some real leaders on Wall Street call out for the industry to clean up its act? These questions can only be properly addressed in the future if there is an acknowledgment and understanding of where and when did Wall Street go wrong in the past. Let’s navigate.


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