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Posts Tagged ‘project on Government Oversight’

Obama’s Two American Governments

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…)

The Wall Street-Washington ‘Code of Silence’

Posted by Larry Doyle on April 13th, 2012 7:58 AM |

Do you ever wonder why we have not heard more people on Wall Street coming forth to expose practices and policies which were prevalent in bringing our economy and nation to its knees? What is holding people and firms back from coming clean? Why does the same scenario seem to be playing out in Washington as well?

Allowing bad behaviors to remain swept under the rug is little more than a catalyst for further bad behaviors down the road. Actually, punishing those who might look to expose bad practices promotes a code of silence which I strongly believe undermines confidence in our markets and our nation. I am very concerned that we are experiencing this very dynamic at play. Let’s navigate. (more…)

Will Whistleblower Protections Suffer at Hands of Rep. Michael Grimm “Reaper” (R-NY)?

Posted by Larry Doyle on February 7th, 2012 11:14 AM |

Representative Michael Grimm (R-NY) was ceremoniously inducted into the Sense on Cents Hall of Shame in May 2011. Not that I ever believed there was reason to doubt his induction, but recently I witnessed further reason to cement his status in the elevated ranks of shame.

As regular readers are fully aware, I write passionately about pursuing the truth while promoting investor education and investor protection. The history of the last few years has shown that the financial services industry has not exactly shared our passion.

Who has shared the passion and took very real professional risk in the process? Numerous and sundry whistleblowers.  (more…)

Did Mary Schapiro Engage in a Fraud?

Posted by Larry Doyle on January 3rd, 2012 10:22 AM |

Will we learn in 2012 if Mary Schapiro, current chair of the SEC, and other then senior executives at the Wall Street self-regulatory organization, FINRA, engaged in a fraud?

The case addressing this question, Standard Chartered v FINRA, has been appealed to the highest court in our land.

As such, one might think that most Americans would care to learn if our nation’s top financial regulator did, in fact, engage in a fraud which had a monetary value of between $175-$350 MILLION plus. That’s right, $175-350 million plus!! Not exactly chicken feed.

Why hasn’t this case received more attention?  (more…)

Prosecutions of Financial Frauds at 20 Year Low

Posted by Larry Doyle on November 30th, 2011 5:02 PM |

I am not surprised to learn that financial frauds are being prosecuted at a rate which puts them at a 20-year low.

When the “truth is confined to secretive, fearful whispers” as I highlighted in my commentary the other day, then those who profit from the accompanying lack of transparency and integrity will swing for the fences. In fact, that is exactly what the financial services industry did for a protracted period. They are fighting tooth and nail to maintain that status quo.

The lax regulatory environment and ineffective legal maneuverings are a reflection of efforts — or lack thereof — that originated and grew during both Democratic and Republican regimes.  (more…)

Jim Himes Co-Sponsors Legislation to Stop Congressional Insider Trading

Posted by Larry Doyle on November 21st, 2011 5:10 PM |

A week ago, I wrote Sense on Cents Calls Out Congress to Pass H. R. 1148 Outlawing Congressional Insider Trading.

In the midst of writing my commentary, I highlighted that:

I called my Congressman Jim Himes (D-CT) this afternoon and informed his spokesman of my initiative here at Sense on Cents. I let him know that Jim’s name will be published at Sense on Cents as supporting this legislation or not.

I got his spokesman’s attention and let him know how great the blogosphere was at spreading this type of information. He fully understood.  (more…)

Follow POGO and ‘Provoke Accountability’

Posted by Larry Doyle on July 1st, 2011 5:50 AM |

POGO Project On Government Oversight

The Project on Government Oversight has, in my opinion, proven itself as the finest “nonpartisan independent watchdog that champions good government reforms” in our nation.

POGO’s work is superb. I check their site daily. America needs a lot more of what POGO does.

What do they really do? POGO digs deeper and works harder on promoting our prized virtues of truth, transparency, and integrity. How do they do it….?   (more…)

A Chance to Expose the Wall Street-Washington Incest

Posted by Larry Doyle on June 7th, 2011 6:55 AM |

Truth, transparency, and integrity.

The compromising of these virtues may be the cost of doing business in our nation but make no mistake the price we collectively pay is enormous. Whether in Washington or on Wall Street, the ability to compromise our prized virtues has truly been raised to an art form.

From derivative transactions which disguise unprecedented levels of risk to bond indentures which require advanced legal degrees to interpret, our ‘friends’ on Wall Street with assistance from ‘their’ friends in Washington have displayed little regard for the aforementioned virtues which are the foundation for real ‘sense on cents’.

More often than not,though,the violation of our virtues is viewed in an impersonal light. Wall Street and Washington are behemoths. The American public and investors at large are faceless. In my opinion, our financial services industry and government would just as soon keep it this way.

Let’s challenge them. (more…)

What’s Really Going on at the SEC?

Posted by Larry Doyle on March 10th, 2011 9:44 AM |

How do you view the local cops on the beat within your hometown? I recall fondly looking up to the ‘men in blue’ as a young boy in Boston. The general admiration and respect for our law enforcement back then certainly did not mean that there were not improprieties occurring. We should not be that naive. That said, the institution of law enforcement itself definitely commanded respect. Can we say the same for those enforcing financial regulations today? Regrettably the record over the last number of years shows significant shortcomings.

These shortcomings at the SEC were supposed to change under the leadership of Mary Schapiro. (more…)

POGO: “Reports the SEC Doesn’t Want You to See”

Posted by Larry Doyle on January 24th, 2011 10:52 PM |

The Project on Government Oversight has become the financial regulatory eyes and ears for our nation. While one would think Congress might care to thoroughly investigate government agencies and hold them to account, our recent history has shown us that the Congressional oversight is severely lacking. Enter POGO. What has POGO provided us now?

By utilizing the Freedom of Information Act, POGO has provided a huge window of transparency into the SEC. Why should POGO have to perform these acts? Where is the Congressional oversight? Heck, where is the SEC chair Mary Schapiro?

I strongly encourage readers to save this commentary as POGO provides links to a wealth of amazing stories and investigations. THANK YOU POGO for performing a national public service in opening the windows into the SEC. (more…)

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