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HomePOGO’s Angela Canterbury “Cross Examines” in re: SEC’s FOIA Exemptions
Posted by Larry Doyle on September 18th, 2010 11:33 AM |
Saturday morning in America and life is good.
Yesterday, I gave major props to our great American Gary Aguirre for addressing critically important issues embedded in the recently enacted Financial Regulatory Reform package which allows further FOIA (Freedom of Information Act) exemptions by the SEC. (Aguirre wrote a fabulous dissertation in the September Wall Street Lawyer, which I embedded in my commentary.) I qualified yesterday’s commentary, Great American Gary Aguirre “Cross Examines” in re: SEC’s FOIA Exemptions, as perhaps the most important and enlightening ever put forth at Sense on Cents. I truly believe that. Gary Aguirre is a great American.
He has company. (more…)
Tags: Aguirre vs SEC, Angela Canterbury testimony, Art Samberg Pequot investigation, Barney Frank, Christopher Dodd, Consumer Protection Act, Darrell Issa on SEC freedom of information exemptions, Dodd-Frank Wall Street Reform, economic crisis, fight for transparency, financial regulatory failures, Fox Business News FOIA request, House Financial Service committee on SEC FOIA, increased transparency and accountability, John MAck Pequot investigation, keep punchin, Larry Doyle, POGO, project on Government Oversight, SEC FOIA exemptions, SEC's failures in MAdoff and Stanford cases, SEC's New Confidentiality Provisions, Sense on Cents, systemic regulatory failures, Wall Street-Washington incest, what is 929I provision, what is FOIA, who is Angela Canterbury
Posted in General | 1 Comment »
SEC Feeling the Heat on Freedom of Information
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
Chairman
Senate Committee on Banking, Housing and Urban Affairs
534 Dirksen Senate Office Building
Washington, D.C. 20510 (more…)
Tags: American Association of Law Libraries, American Library Association, Angela Canterbury, Barney Frank, Christopher Dodd, Citizens for Ethics and Responsibility in Washington, CREW, Dodd-Frank Act, Essential Information, financial regulation, financial regulatory reform, financial regulatory structure, FOIA, freedom of information act, GAP Government Accountability Project, Investment advisers Act of 1940, Investment Company Act of 1940, Liberty Coalition, Mary Schapiro, OMB Watch, OpenTheGovernment.org, POGO, project on Government Oversight, Public Citizen, rule 9291, SEC, section 9291, Securities Exchange Act of 1934, Senator Patrick Leahy, Sense on Cents, Sunlight Foundation, transparency at the SEC, Washington Wall Street incest
Posted in General, SEC | 5 Comments »
Let’s Review “What They Said About Fan and Fred”
Posted by Larry Doyle on June 3rd, 2010 5:55 AM |
What do you have to do today? What did you do yesterday? What is on your schedule for tomorrow? What did the market do yesterday? What will the market do today? What might it do tomorrow?
America lives in the moment. While in certain circumstances that emphasis on the immediate may be helpful and appropriate, in my opinion, that approach generates a lack of real depth and understanding within our national psyche.
Real sense on cents requires a much greater understanding of the past in order to generate a much more astute projection of the future. We must hold our financial and political leaders to a similar — if not even more vigorous — standard. Regrettably, we allow the Wall Street and Washington establishments, in concert with an ineffective media, to frame our national debate. In the process, are we mere mindless lemmings being led to slaughter? (more…)
Tags: accounting at Fannie and Freddie, Alan Greenspan, armando falcon, Barney Frank, Christopher Dodd, Chuck Hagel, Chuck Schumer, Fannie Mae Freddie Mac, Franklin Raines, Gregory Meeks, I want to roll the dice, Let's review What They Said About Fan and Fred, let's roll the dice, losses at Fannie and Freddie, Maxine Waters, OFHEO, Richard Shelby, Robert Bennett, Senate Banking, sub-prime mortgages, Thomas Carper
Posted in Fannie Mae, Freddie Mac, General | 7 Comments »
Did Big Ben Bernanke and Heavy Hank Paulson Break The Law in Buying Ken Lewis’ Silence?
Posted by Larry Doyle on April 28th, 2009 12:15 PM |
The intrigue involved in Bank of America’s takeover of Merrill Lynch goes well beyond standard Wall Street negotiations. Did Fed chair Ben Bernanke and then Treasury Secretary Hank Paulson break the law in the process of pressuring BofA CEO Ken Lewis to complete this bank merger? Bloomberg’s Jonathan Weil has easily distinguished himself amongst all journalists in aggressively addressing this topic. Weil pulls no punches in writing One Nation, Under Banks With Justice For No One.
Lewis, as CEO of Bank of America, possessed material non-public information about Merrill Lynch and was obligated by law to release that information to his shareholders. Lewis unequivocally maintains Bernanke and Paulson pressured him not to release that information which would have potentially derailed the merger. Why didn’t Lewis get Bernanke’s and Paulson’s position in writing? Did Lewis ask for it in writing? Did Paulson and Bernanke knowingly avoid a legal quagmire by not contractually committing in writing to increased government support for Lewis’ acquiescence?
Weil provides a clear expose of this situation. I commend him! He writes:
The spectacle of Ben Bernanke and Henry Paulson running roughshod over Kenneth Lewis and his minions at Bank of America Corp. raises a pivotal question for all Americans: Is the U.S. a nation of laws, or a nation of banks?
Let’s start by examining the facts disclosed last week in a letter by New York Attorney General Andrew Cuomo while taking pains to present the actions of each player in this drama in the fairest possible light. (more…)
Tags: Andrew Cuomo's investigation of Bank of America's takeover of Merrill Lynch, Bank of America takeover of Merrill Lynch, Barney Frank, Ben Bernanke, Christopher Dodd, Hank Paulson and Ben Bernanke pressure Ken Lewis, jonathan Weil, Mary Schapiro, Merrill lynch taleover by Bank of America, New York AG Andrew Cuomo, SEC
Posted in Bank of America, Banking Institutions, Barney Frank, Ben Bernanke, Christopher Dodd, Economy, General, Henry Paulson, Moral Hazard, Wall Street | 5 Comments »
