Posts Tagged ‘Wall Street-Washington incest’
Posted by Larry Doyle on September 27th, 2012 7:20 AM |
Yesterday’s commentary addressing the gross injustice of an SEC attorney walking away largely unscathed after having blown the cover of a whistleblower resonated far and wide. What is it about this story of the whistleblower Peter Sivere having his confidence violated that consumes me and strikes right at the core of America?
Sivere was victimized by those charged with upholding our laws, protecting our values, and promoting a system of free and fair trade. Peter Sivere’s story epitomizes the essence of the Wall Street -Washington Incest which I have railed on for the last three years.
Yet, Peter Sivere awakes again today a victim with no real justice. While he bears the brunt of the pain of being victimized, the simple fact is Sivere is every good and decent man and woman in America. As Sivere suffers, so do we all.
It does not have to be this way. How might it begin to change? (more…)
Tags: George Demos, JP Morgan compliance, justice for Peter Sivere, Nita Lowey letter to SEC chair Mary Schapiro, Nita Lowey Peter Sivere, Peter Sivere, Peter Sivere case, Peter Sivere JP Morgan, Peter Sivere whistleblower, protection of whistleblowers, SEC whistleblower protection, Wall Street-Washington incest, whistleblower protection
Posted in General, SEC, Wall Street, Wall Street Washington Incest | 17 Comments »
Posted by Larry Doyle on September 26th, 2012 5:51 AM |
While listening to the upcoming Presidential and Vice-Presidential debates and you hear selected politicians make the case that they have reformed Wall Street, I recommend you get yourself a barf bag and think of the story I share with you today.
I introduced readers of this blog to whistleblower and former JP Morgan Chase compliance officer Peter Sivere in early 2010. For those unaware, Mr. Sivere had his identity revealed — that is, his confidence was violated — by an SEC attorney while in the process of blowing the whistle in an after hours trading case ongoing at JP Morgan.
Going on three years later Sivere and America still wait for the SEC to make proper amends in his case. Why is that fact and this case so important? (more…)
Tags: Dodd Frank reform of Wall Street, Dodd-Frank financial regulatory reform, Eliot Spitzer interview with Bill Cohan, JP Morgan Canary after hours trading scandal, JP Morgan Joan Guggenheimer, Obama reform of Wall Street, Peter Sivere case, Peter Sivere George Demos, Peter Sivere whistleblower, SEC after hours trading scandal, SEC in bed with Wall Street, Spitzer interview with William Cohan, Wall Street corruption, Wall Street-Washington incest, who violated Peter Sivere
Posted in General, SEC, Wall Street, Wall Street Washington Incest | 13 Comments »
Posted by Larry Doyle on September 19th, 2012 4:31 AM |
Reports circulating that Mary Schapiro will step down from her post at the SEC pending an Obama re-election are increasing. Unless Ms. Schapiro is relinquishing her throne in preemptive fashion I do not know why this story is even getting legs. It is certainly not uncommon for significant turnover within a President’s cabinet after the completion of a first term.
I sincerely hope that she is not in ill health but that concern is raised in a story in the New York Post, SEC You Later, Pal: Schapiro May Be Heading for The Exit,
Chatter surrounding Schapiro’s status at the regulatory agency has reached a crescendo in the past few days as an undisclosed medical procedure has resulted in her taking a leave of absence — set to end tomorrow.
An SEC official told The Post that Schapiro has been on medical leave since last Thursday and has been working from home as she recovers. (more…)
Tags: FINRA, is Mary Schapiro ill, pal New York Post, Richard Ketchum, SEC, SEC you later, Standard Chartered v FINRA, story floating about Mary Schapiro's departure, Wall Street-Washington incest, who will be the next head of the SEC, who will replace Mary Schapiro, will Mary Schapiro leave the SEC
Posted in FINRA, General, SEC | 1 Comment »
Posted by Larry Doyle on September 14th, 2012 12:43 PM |
When politicians out there want to talk about “fairness in the tax code”, you may care to forward them the bar graph highlighted below.
With credit to the folks at Business Insider,
Here are the income taxes paid by the respective income percentiles. Note how little the bottom half pay (blue). Note how much more as a percentage of the whole the top 5% are paying. (more…)
Tags: a fair tax code, crony capitalism, fair tax system, fairness in the tax code, family structure and single parent births, public teachers unions, rackets in Washington, tax code in America, tax fairness, tax reform, Wall Street-Washington incest, who pays the taxes in America
Posted in General, taxes | 9 Comments »
Posted by Larry Doyle on August 21st, 2012 7:20 AM |
I am firmly convinced that self-regulation for Wall Street will NEVER work. The inherent conflicts of interest preclude that from happening.
Whether we have a self-regulatory model or not, though, bad practices on Wall Street need to be brought to light and properly addressed. What do I believe is the most effective means to make that happen? Promoting and protecting whistleblowers. Wall Street has little interest in this.
To think that whistleblowers will be protected and whistleblowing promoted under Dodd-Frank is naive. Why so? Do we really think career regulators Mary Schapiro and Richard Ketchum will shepherd whistleblowers and expose bad practices? (more…)
Tags: Dodd Frank whistleblower act, Dodd-Frank financial reform, George Demos, Peter Sivere, the story of Peter Sivere, Wall Street-Washington incest, whistleblowers exposed on Wall Street
Posted in General, Wall Street Washington Incest | 1 Comment »
Posted by Larry Doyle on August 16th, 2012 9:37 AM |
One might only guess that New York Attorney General Eric Schneiderman and his colleague NY Department of Financial Services’ superintendent Benjamin Lawsky are not on the distribution list for the Wall Street-Washington Incestuous Regulatory Relationship mailings. That is a good thing.
Hopefully other state regulators and attorneys general might take a cue from these two.
On the heels of Lawsky playing hardball with the Standard Chartered – Iranian Laundromat, we now see Schneiderman doing the same with seven Wall Street heavyweights implicated in the largest financial scandal in history, that is, the manipulation of Libor. Which heavyweights? (more…)
Tags: Eric Schneiderman George Jepsen Libor probe, Financial Times Seven Banks in NY Libor Probe, Libor scandal, Libor scandal Ben Bernanke, Libor scandal Eric Holder, Libor scandal Eric Schneiderman, Libor scandal Gary Gensler, Libor scandal Mary Schapiro, Libor scandal Rick Ketchum, Libor scandal Schneiderman and Jepsen, Libor scandal subpoenas, Libor scandal Tim Geithner, Libor scandal use of Martin Act, Libor subpoenas Martin Act, Standard Chartered Iranian laundromat, Wall Street-Washington incest
Posted in General, Libor, Wall Street Washington Incest | 7 Comments »
Posted by Larry Doyle on July 26th, 2012 6:50 AM |
The news yesterday that once renowned banker Sandy Weill has called for the breakup of the now “too big to fail” banks is treated as some sort of earth shattering news development. News? Really? “Sandy, where ya’ been, my man?”
In the neighborhood of my youth, news of that sort was typically used to wrap the daily catch down at the local pier.
While those on the airwaves may care to direct a measure of respect to Mr. Weill, the call to break up the “too big to fail” banks is little more than yesterday’s news. Who made this call early on? (more…)
Tags: James Kwak 13 Bankers, Larry Doyle Sense on Cents, Sandy Weill, Sandy Weill bank call July 2012, Sandy Weill break up the banks July 2012, Sandy Weill calls for breakup of banks July 2012, Sandy Weill calls for the breakup of the banks, Simon Johnson 13 Bankers, time to end self regulation on Wall Street, time to reinstitute Glass Steagall, too big to fail is too big to exist, too big to fail is too big to manage, too big to fail is too big to trust, Wall Street-Washington incest
Posted in General, Wall Street Washington Incest | 7 Comments »
Posted by Larry Doyle on July 22nd, 2012 6:41 AM |
I continue to maintain that the overwhelming percentage of people working on Wall Street are good and decent people trying to make an honest living in what has become an increasingly challenged industry.
I also maintain, and always will, that the spirit of capitalism that drives Wall Street is a necessary and vital engine if our economy and country are to recover.
I rail so hard on the failures and captures within our financial system for the very simple reason that I believe a healthy country needs healthy markets. Neither our country nor our markets are anywhere close to being healthy right now. In fact, with the news surrounding the Libor scandal taken in conjunction with word of massive money laundering within HSBC, the question begs, “Have banks become criminal enterprises?”
(more…)
Tags: Antonio Maria Costa UNODC, banking criminal enterprises, banking scandals, criminal activity within banks, criminal activity within Wall Street banks, David Aufhauser of UBS Settles ARS, does self-regulation work on Wall Street, drug trafficking in Wall Street banks, drug trafficking money laundering at Wachovia, For UBS A Record of Averting Prosecution, has criminal activity overtaken banking, have banks become criminal enterprises, how did drug trade penetrate banking, HSBC money laundering, JP Morgan electric scandal, JP Morgan Libor scandal, Libor scandal, Money Laundering Taken to the Cleaners, the state of banking 2012, Too Big to Beahave Not Too Big to be Punished, UBS, UBS New York Times July 21 2012, Union Bank of Switzerland, Wachovia money laundering, Wachovia money laundering scandal, Wall Street and drug trafficking, Wall Street-Washington incest
Posted in General, Wall Street Washington Incest | 12 Comments »
Posted by Larry Doyle on July 20th, 2012 10:24 AM |
We are losing our nation and our future literally right before our eyes. WAKE UP, America!!
Who is involved in the greatest theft ever undertaken on American soil? All those involved in the scheme and scandal collectively defined as financial regulatory capture. Who are the parties to this scandal?
1. Politicians more concerned with re-election and collecting the needed campaign funding than actually pursuing the truth and principles needed to protect investors and the public at large. (more…)
Tags: coverage of Libor scandal, factors involved in financial regulatory capture, how does financial regulatory capture work, how Wall Street buys off Washington and the media, lack of coverage of Libor scandal, Libor scandal, media complicit with Wall Street, media coverage of Libor scandal, Media Matters coverage of Libor scandal, Wake Up America, Wall Street-Washington incest, where to find coverage of Libor scandal, why hasnt the media covered the Libor scandal
Posted in General, Libor | 7 Comments »
Posted by Larry Doyle on July 17th, 2012 12:40 PM |
Today’s Wall Street Journal lead editorial, New York Fed to Barclays: ‘Mm hmm’, concludes,
. . . if this is really the epic deceit and crime we are now reading about, then either new evidence needs to come to light, or the regulators who smiled and nodded and “Okayed” and “Mm hmmed” through the panic years are complicit with the banks now in the dock. They had ample opportunity to shut down this behavior, but nothing released by the New York Fed or the Bank of England suggests much more than a raised eyebrow at the time.
I am highly confident that there is plenty of supportive evidence of deceit and conspiratorial activity in the many thousands of e-mails and communications which officials have indicated they already hold. That said, I am also confident — and let’s not discount for even a second — that the regulators were complicit with the banks now in the dock. Why so confident? (more…)
Tags: Banking Industry Tobacco Moment, Barclays Libor Scandal, Barclays Libor Scandal Bank of England, Barclays Libor Scandal equated to Tobacco Litigation, Barclays Libor scandal failure of regulators, cut the head off, did regulators look the other way in the Libor scandal, how regulators failed to protect in Barclays Libor scandal, lack of regulatory oversight in the Libor scandal, Libor scandal, Libor scandal complicit regulators, Libor scandal what about the regulators, Manipulating Libor like lying about tobacco, New York Fed to Barclays: 'Mm hmm', rigging Libor like tobacco, Wall Street Journal editorial July 17 2012, Wall Street-Washington incest, were regulators complicit in the Libor scandal, where were regulators in the Libor scandal
Posted in General, Libor, Wall Street Journal, Wall Street Washington Incest | 14 Comments »
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