Posts Tagged ‘Wall Street-Washington incest’
Posted by Larry Doyle on July 29th, 2010 12:33 PM |
Kudos to Fox Business News for leading the charge within the financial media on the need for real transparency at the SEC. FBN’s Adam Schapiro was just on chatting with Stuart Varney on this very important topic. Listen to Adam, and ponder his comments in light of the Madoff and Stanford travesties that took place literally right under the nose of the SEC. (Clicking on the image will bring you to the Fox Business News website, and the video clip will begin to play automatically.)

Who is the SEC protecting?
LD
Tags: Adam Schapiro, Adam Schapiro intreview with Stuart varney, Fox Business News, freedom of information act, GIM, Greenwich Investment Management, Larry Doyle, Mary Schapiro, SEC and FOIA, SEC regulation regarding freedom of information, Sense on Cents, Wall Street-Washington incest
Posted in General, SEC | 2 Comments »
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…)
Tags: Financial regulatory reform bill, FOIA, Fox Business News, freedom of information act, Gary Aguirre, George Rieger, GIM, Greenwich Investment Management, Harry markopolos Don't trust the Government, Larry Doyle, mary schapiro and mark mcgwire, Mary Schapiro David Kotz, Pequot, President Obama support for transparency, SEC Financial Regulatory Law H.R. 4173, SEC OIG David Kotz, SEC transparency and disclosure, Sense on Cents, Wall Street-Washington incest
Posted in General, SEC | 15 Comments »
Posted by Larry Doyle on July 17th, 2010 11:20 AM |

Elizabeth Warren
Truth, transparency, and integrity!
If our nation is to have any chance to recover from the throes of the worst economic crisis since the 1930s, it had better start elevating and embracing these aforementioned virtues. Time and time again, when we review business practices and political decisions at the center of our crisis, we have seen a glaring lack of these prized virtues. Why and how were these principles compromised? The pursuit of short term profit. Regrettably, this pursuit came at the expense — if not total violation — of these principles. The ultimate long term costs are now being borne by the nation as a whole.
Sense on Cents abhors those who would compromise these core values. Similarly, Sense on Cents embraces those who cherish these values. To that end, I strongly endorse Elizabeth Warren to head the Consumer Financial Protection Agency. (more…)
Tags: Barack Obama, CFPA, costs vs profits, does Wall Street own Washington, Elizabeth Warren, Elizabeth Warren Tim Geithner, Greenwich Investment Management, Huffington Post, Larry Doyle, President Obama, pursuit of integrity, pursuit of transparency, pursuit of truth, Sense on Cents, short term profits vs long term costs, Tim Geithner Opposes Nominating Elizabeth Warren to Lead New Consumer Agency, Treasury Secretary Tim Geithner, Wall Street-Washington incest, what is CFPA, who will head CFPA, who will head Consumer Financial Protection Agency, who will Obama select to head CFPA for
Posted in Elizabeth Warren, General, Tim Geithner | 2 Comments »
Posted by Larry Doyle on June 29th, 2010 1:15 PM |
Thanks very much to a regular reader of Sense on Cents for sharing a fascinating story. The Government Accountability Project just released the following story regarding a significant settlement paid by the SEC to a former SEC attorney Gary Aguirre. This story highlights the Wall Street-Washington incest to the ‘nth’ degree. Will the media pick this story up and highlight it? They should.
With the details provided in this story, Gary Aguirre clearly shows himself to be a great American and as such earns immediate induction into the Sense on Cents Hall of Fame. The General Accountability Project reports SEC Settles with Aguirre:
In what may be the largest settlement of its kind, the Securities and Exchange Commission (SEC) has agreed to pay $755,000 to settle the wrongful termination claim of Gary J. Aguirre, the attorney who headed the SEC’s insider trading investigation of Pequot Capital Management until his firing in September 2005. (more…)
Tags: Arthur Samberg Pequot Capital, Chris Cox, GAP Legal Director Tom Devine, Gary Aguirre, Gary Aguirre termination, Gary Aguirre's firing, Government Accountability Project, insider trading, John Mack subpoena, Merit Systems Protection Board, MSPB, Pequot Capital Management, Pequot insider trading charge, SEC Associate Director Paul Berger, SEC OIG David Kotz, SEC Settles with Aguirre, Securities and Exchange Commission, Wall Street-Washington incest, who is David Zilkha, why do financial regulators turn a blind eye, why was Gary Aguirre fired
Posted in General, SEC | 7 Comments »
Posted by Larry Doyle on June 14th, 2010 11:45 AM |
While the United States has very clearly chosen the Japanese path of ‘kicking the can down the road’ to deal with our current economic crisis, the Republic of Ireland has chosen the Swedish approach of ‘take your medicine as quickly as possible.’ Economists and analysts will debate the merits and shortcomings of each style for a long time. That said, is there anything we can learn currently from our friends in Ireland? (more…)
Tags: Anglo Irish bank, Celtic tiger, collapse of Lehman Brothers, FINRA, Ireland's Financial Lessons, Irish catholic guilt complex, Irish Nationwide, Irish transparency and integrity, Japanese style vs Swedish style, kick the can down the road, Klaus Regling and Max Watson, Patrick Honohan, Republic of Ireland, SEC, take your medicine as quickly as possible, the collapse of the Celtic tiger, thousand year storm, Wall Street-Washington incest, who is Patrick Honohan
Posted in General | No Comments »
Posted by Larry Doyle on April 20th, 2010 1:10 PM |

Edwin P. Morrow, Chairman & CEO of IARFC
I am heartened when great Americans across our country are willing to stand up and lash out at those involved in the Wall Street-Washington incest. I crossed paths with just such an American this morning in Ed Morrow, the chairman and CEO of the International Association of Registered Financial Consultants, a non-profit educational society for the financial planning industry.
Ed wrote to his representaitve John Boehner (R-OH) on financial regulatory topics which he feels are vitally important to his members. I thank Ed for his courage to speak his mind and his willingness to let me run his letter here at Sense on Cents. Thank you to our great American Ed Morrow for writing the following: (more…)
Tags: Ed Morrow, Ed Morrow writes to John Boehner, financial planning education, financial regulatory reform, FINRA liquidation of auction-rate securities, International Association of Registered Financial Consultants, Investigation of the SEC's Response to Concerns Regarding Robert Allen Stanford's Alleged Ponzi Scheme, is SEC charge against Goldman Sachs a cover, Judge Jed Rakoff Standard Investment Chartered, Mary Schapiro board seat with Kraft and Duke Energy, Mary Schapiro board seats, Mary Schapiro's tenure at FINRA, OIG-526 Report, SEC FINRA NASD, SEC OIG review of Allen Stanford Ponzi scheme, Sense on Cents, Wall Street-Washington incest, where to learn about financial planning, who is Ed Morrow
Posted in FINRA, General, Mary Schapiro, SEC | 6 Comments »
Posted by Larry Doyle on April 20th, 2010 9:17 AM |
Incestuous relationships can last a long time. When two willing consorts are engaged in incest without it being exposed, the incest can grow and ultimately become cancerous. Incestuous partners may believe they are pleasing each other at little expense to other family members. What a lie. Make no mistake, there is always a third party involved in incest. Who is that? Collectively, the family. In the case of our financial crisis circa 2010, the incestuous relationship between Wall Street and Washington has badly damaged the American family. Let us not allow either of these incestuous partners to define our current turmoil by asking family members to pick sides.
Why am I writing this? (more…)
Tags: FINRA, FINRA-ARS, incestuous relationship between Wall Street and washington, independent investigation of finra, Obama Administration, Obama's trip to Wall Street, SEC charges against Goldman Sachs, timing of SEC charges is cover for Obama, victims of financial crisis, victims of incest, Wall Street-Washington incest
Posted in General, Wall Street, Washington D.C. | 4 Comments »
Posted by Larry Doyle on April 12th, 2010 9:11 AM |

U.S. District Judge Jed Rakoff
America loves a hero. Those who go boldly into the dark, defying death, and willing to sacrifice themselves for the well being of their brethren are truly special. Why are so many Americans enraged at the power structure in Washington? For the very simple reason that Americans see few – if any – heroes amongst our elected public servants.
Do we find any heroes on Wall Street? There are many great, heroic citizens in every line of work, including Wall Street, who work tirelessly to fend for their families. These people are heroes, but not on a national level.
Who are our national heroes at this time? Who is truly willing to call out the embedded incestuous power structure that has corrupted and continues to corrupt our society? I will nominate Simon Johnson and James Kwak, co-authors of 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown, for serious consideration as national heroes. Why? Johnson and Kwak properly frame the critical debate facing America today. This debate focuses on the fact that the incestuous relationship between our political and financial forces is killing America. Unless and until that incestuous relationship is exposed and unwound, our nation faces grave threats. (more…)
Tags: 13 bankers: The Wall Street takeover adn the Next Financial Meltdown, Anthony Barkow of NYU speaks of Judge Jed Rakoff int, Barron's Jim McTague FINRA, Eliot Spitzer in Slate Magazine on Judge Jed Rakoff, financial and political forces combined, FINRA absolute immunity, First Heal Thyself, formation of FINRA, heroes on Wall Street, Jed Rakoff takes on Wall Street, Judge Jed Rakoff, Judge Jed rakoff condemns SEC, Judge Jed Rakoff on JP Morgan Chase handling of clients OP, Judge Jed rakoff rules for FINRA vs Standard Investment Chartered, Judge Jed Rakoff talks of Wall Street compensation, Judge Jed rakoff Taps into Nation's Outrage Over Economic Crisis, Judge rakoff ruling in Bankof America purchase of Merrill Lynch, Los Angeles Times April 12 2010, NASD, national heroes, NYSE Regulation, pulled a Rakoff, rulings from Judge Jed Rakoff, SEC Chair mary Schapiro, Simon Johnson and James Kwak, Wall Street-Washington incest, who is Jed Rakoff
Posted in General, Jed Rakoff | 3 Comments »
Posted by Larry Doyle on April 9th, 2010 9:12 AM |
Who in America is going to stand up and accept appropriate culpability for his/her contribution to our current economic crisis? Who in America is also willing to expose the incestuous nature of the Wall Street-Washington relationship which provided the cover for the activities which have debilitated our nation?
Let’s review what we have learned so far:
1. Blame has been directed at bank executives…but they got paid handsomely, and have not accepted full responsibility.
2. Blame has been directed at ratings agencies….but they also got paid handsomely to provide ratings, while not really knowing what they were doing. (more…)
Tags: Ben Bernanke, blame for crisis, Chris Dodd, culpability for crisis, Fannie Mae execs, FCIC, finger pointing, FINRA, Franklin Raines, Freddie Mac execs, Larry Summers, Leland Brendsel, mortgage originators, Phil Gramm, public service, public service and private wealth accumulation, ratings agencies, reasons for our economic crisis, regulators, Rham Emanuel, Robert Rubin, SEC, Tim Geithner, Wall Street executives, Wall Street-Washington incest, Washington, what is to blame for our economic crisis, who is to blame for our economic crisis
Posted in General, Wall Street, Washington D.C. | 5 Comments »
Posted by Larry Doyle on April 5th, 2010 2:02 PM |
Is the Wall Street landscape 2010 merely a precursor to another systemic crisis in which the “too big to fail” banks come running to Uncle Sam for more bailouts? Selected senior bankers on Wall Street, including JP Morgan’s Jamie Dimon, have publicly stated that the markets and our economy need to ready themselves for crises on a more regular basis. If that is the case, is this truly any way to run a financial system, let alone a country? I do not think so, nor does Simon Johnson. Who is Johnson? (more…)
Tags: 13 Bankers, banks, banks as percentage of GDP, banks should be small enough to fail, Baseline Scenario, financial institutions, financial regulation, financial regulators, james Kwak, Jamie Dimon, no way to run a business or a nation, Peterson Institute for International Economics, Senator Chris Dodd's financial regulatory reform, Simon Johnson, Simon Johnson interview with David Weidner, Simon Johnson on Teddy Roosevelt, Simon Johnson on too big to fail, Sloan School of Management, small enough to fail, Wall Street crises, Wall Street hubris, Wall Street-Washington incest
Posted in General | 1 Comment »