Posts Tagged ‘Dodd-Frank Act’
Posted by Larry Doyle on April 5th, 2012 7:53 AM |
America only had to wait for a 60 Minutes expose and more than half a decade to witness our elected representatives pass a meaningful piece of legislation addressing insider trading on Capitol Hill. If those two basic facts do not speak volumes as to the quality of character of those governing our nation, then let’s navigate further.
President Obama’s signing of the STOCK Act outlawing insider trading in Washington is heralded as a major achievement. If that is the case, then we are holding the bar exceptionally low.
I will grant that our nation is better off having the STOCK Act than not, but let’s hold the applause. As a further reminder that there are two sets of standards in our nation, let’s review how ‘justice’ is defined within the realm of insider trading. (more…)
Tags: 60 Minutes expose on Stock Act, Department of Justice, Dodd-Frank Act, Federal Sentencing Guidelines, insider trading in Washington, insider trading on Capitol Hill, John Boehner insider trading, justice in STOCK Act, Nancy Pelosi insider trading, no perp walks in Washington, penalties for insider trading, penalty does not fit the crime, pension forfeiture for corrupt members in Congress, perp walks, Raj Rajaratnam, Spencer Bachus insider trading, Steve Kroft, Steve Kroft 60 Minutes, Steve Kroft insider trading November 13 2011, STOCK Act, STOCK Act justice, Stock Act penalty, Wall Street
Posted in General, insider trading | 4 Comments »
Posted by Larry Doyle on September 20th, 2010 7:13 AM |
What can we believe? Can we believe the economic reports put forth by our government? Can we believe the quarterly reports put forth by our financial institutions? Can we believe the price action in our markets? While “the market is the market,” has our country ever experienced a period in which there is such a massive disconnect between the real economy and what Uncle Sam has generated?
I am often reminded of the fabulous hit movie, The Truman Show, when thinking of our current economy and markets. How much of our economy is based on reality and what is merely staged? Bloomberg’s Jonathan Weil once again distinguishes himself in providing an “economic and market reality check” of our ‘Uncle Sam’ economy circa 2010. Weil writes, Zombie Banks Have Us Right Where They Want Us:
Two years after the collapse of Lehman Brothers and what rightfully should have been the death of American International Group, U.S. capital markets face a crucial question.
How long will it take before we see some semblance of robust free-market capitalism return, where the value of an asset is based on what bona fide market participants will pay for it, the cost to borrow money is based on a company’s fundamental financial strength rather than its ability to access a government safety net, and corporations are free to fail no matter what their size? (more…)
Tags: AIG, aig bondholders, ally bank, american international group, americredit, Bloomberg's Jonathan Weil, Dodd-Frank Act, free market capitalism, Jim Carrey, Larry Doyle, lights camera action, michael carpenter, our economic reality, our economy is not real, Sense on Cents, The Truman Show, too big to fail, Wall Street, Weil Zombie Banks Have Us Right Where They Want Us, who is jonathan weil
Posted in General | 4 Comments »
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 »
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