Posts Tagged ‘finreg’
Posted by Larry Doyle on June 17th, 2011 6:46 AM |
“Good corporate governance is a system in which those who manage a company — that is, officers and directors — are effectively held accountable for their decisions and performance. But accountability is impossible without transparency.”
Truer words were never spoken. The above statement very succinctly highlights a cornerstone principle of Sense on Cents. Whomever issued this proclamation would certainly seem to be a strong candidate for the Sense on Cents Hall of Fame. Regrettably not.
Our current SEC chair Mary Schapiro offered those pearls of wisdom in December 2009 and the Washington Post concluded its commentary SEC Tightens Rules On Investment Advisers, Corporate Transparency with that quote from Ms. Schapiro. If only Mary would practice what she preached. (more…)
Tags: accountability is impossible without transparency, accountability without transparency, Citizen for Ethics and Responsibility, Dodd-Frank, FINRA, finreg, Mary Schapiro, Mary Schapiro commitment to transparency, Michael Smallberg of POGO, need for transparency, Peter Mougey of PIABA, PIABA, practice what you preach, Public Investors Arbitration Bar Association, SEC, SEC exemption of FOIA, SEC FINRA Oversight, SEC Tightens Rules on Investment Advisers Corporate Transparency, securities arbitration, Sense on Cents Hall of Fame, Wall Street sro, Wall Street-Washington incest
Posted in FINRA, General, Mary Schapiro, SEC | 4 Comments »
Posted by Larry Doyle on May 25th, 2011 7:57 AM |
Information is everything.
Regular readers of Sense on Cents are well aware of my having written that statement on many an occasion. Those on Wall Street who gain early access to critical information have a decided advantage. Those in Washington who gain the upper hand in controlling the flow of information are also at a decided advantage.
As these realities become ever more prevalent, Americans and people worldwide are working harder and digging deeper to attain unbridled access to information in order to determine the truth and promote transparency. With major media outlets often failing us in these pursuits, where do we turn for this information? The internet.
Against this backdrop, I am not surprised to see political powers in Washington accept and embrace the reality of the power of the information superhighway and put an ‘eye in the sky’ in order to monitor the traffic. To what do I allude? (more…)
Tags: access to information, Are you in?, are you in? is obama's new rallying cry, ars nightmare, Auction Rate Securities, Director of Progressive Media & Online Response, failure of media, financial regulatory reform, FINRA, finreg, House Speaker John Boehner, Huffington Post, information is everything, Jesse Lee's new role at White House, obama 2012, obama bowing to saudis, obama in 2012, obama shaking hands with chavez, obama shaking hands with netanyahu, power of the internet, regulatory capture, Representative Grimm, Senator Jeff Sessions, Senator Jon Kyl, sense of disenfranchisement, slogan for obama re-election campaign 2012, truth transparency integrity, Wall Street-Washington incest, what is obama's new slogan for reelection, what is regulatory capture, whistleblower protection, White House Beefs Up Online Rapid Response, White House Communications Director Dan Pfeiffer, who is Dan Pfeiffer, who is Jesse Lee, will obama get reelected
Posted in Barack Obama, General, Obama Administration, Washington D.C. | 5 Comments »
Posted by Larry Doyle on September 18th, 2010 12:14 PM |
LD’s edit: Thank you to a Sense on Cents reader, Transparency, for informing us that Senate Judiciary Committee Approves Bill To Repeal SEC FOIA Exemptions.
Thanks to a loyal reader of Sense on Cents for sharing this press release put forth earlier this week. Not that the Republican Party does not have a LOT to answer for in terms of the final Financial Regulatory Reform, but at least on this front, I commend Darrell Issa (R-CA) for introducing this legislation.
Issa Introduces the SEC Freedom of Information Restoration Act
President Obama at Signing of Financial Reform Bill: “It demands accountability and responsibility from everyone…It demands accountability and responsibility from everyone…And we all win when folks are rewarded based on how well they perform, not how well they evade accountability.” (more…)
Tags: Aaron Schock, Allen Stanford, Angela Canterbury, Barack Obama, Bernie Madoff, Bill Shuster, blaine leutkemeyer, Brian Bilbray, Dan Burton, Darrell Issa, Dodd Frank Wall Street reform and Consumer Protection Act, finreg, FOIA, Freedom of Information Restoration Act, Gary Aguirre, Issa Introduces the SEC Freedom of Information Restoration Act, jason Chaffetz, Jeff Fortenberry, jim jordan republican of ohio, John Duncan, John Mica, oversight and government reform committee, Patrick McHenry, rule 9291, sec failures in madoff and stanford scams, section 9291, Spencer Bachus, Wall Street-Washington incest
Posted in General | 4 Comments »
Posted by Larry Doyle on September 17th, 2010 8:03 AM |
I truly believe this could be the single most important and enlightening commentary ever put forth at Sense on Cents. Although it is a little lengthy and has some legalese, if you care about truth, transparency, and integrity in our nation, take the time to read and review. You will be better for it. I encourage you to share it with friends and colleagues.
Washington still does not get it.
I strongly believe the deeply embedded Wall Street-Washington incestuous relationship was central to the erosion of our economic foundation. While that incest must be extirpated if we are to regain our economic standing, we continue to suffer through “show trials” dealing with the critically important topic of pursuing transparency across our political and financial landscape. Regrettably, the media in general provides limited coverage to this ongoing pursuit. To that end, I welcome banging this drum and engaging those in our nation who will ask the hard questions and put forth aggressive propositions so real transparency can be achieved. Even if the pursuit comes up short, the effort and goals are beyond worthy. Let’s navigate.
Yesterday, the House Financial Services Committee chaired by Barney Frank held a hearing to address the SEC’s exemptions from Freedom of Information requests embedded in the Financial Regulatory Reform legislation. Congressman Frank rolled out the red carpet to SEC Chair Mary Schapiro. From the testimony, Frank offers: (more…)
Tags: 929I, Aguirre Pequot Capital Art Samberg, Barney Frank, financial regulatory reform, finreg, FOIA, freedom of information, Gary Aguirre, Gary Aguirre John Mack, House Financial Services, Mary Schapiro, Robert Khuzami, SEC FOIA exemptions, SEC OCIE, SEC OIG David Kotz, September Wall Street Lawyer, Wall Street-Washington incest, what is 929I, who is Gary Aguirre
Posted in General | 13 Comments »
Posted by Larry Doyle on August 30th, 2010 11:05 AM |
Is this game of life a total mystery? In many respects, life is a mystery. While there are many aspects of life we may never fully understand, there are those elements for which we can gain greater understanding through research, study, transparency and disclosure.
Along these same lines, to what degree is the world of financial frauds a mystery? How much of what transpired to lead us into our current economic crisis will we never truly learn? While our financial regulators and legal representatives may work toward providing transparency and disclosure, will the American public ever learn the full extent of the two largest financial frauds of the last few years–those being the Bernard Madoff and Allen Stanford travesties.
I ask this critically important question in light of the Freedom of Information Act exemption provided to the SEC in the recently enacted Financial Regulatory Reform package. Will that exemption inhibit transparency and disclosure? Should the American public blindly accept and trust the SEC at each and every turn? How might we ever know? (more…)
Tags: Allen Stanford, bernard madoff, christopher bebel, drug traffickiing, financial fraud, financial frauds, financial regulatory reform, finreg, is life a mystery, james connolly, life is a mystery, lloyd's of london, money laundering, SEC foia exemption, sir allen stanford, stanford committed no crime ex-prosecutor testifies at trial on insurance, Stanford Financial, transparency and disclosure, Whitey Bulger
Posted in General | 6 Comments »
Posted by Larry Doyle on August 26th, 2010 5:38 AM |
Nouriel Roubini is both revered and derided. While he gains huge credit for having forecasted our economic meltdown, he is equally maligned for having missed the 2009 rally in the markets. I am less concerned with Roubini’s market calls, but I am very interested in his views on the inner workings of our economy and market structures. To this end I was thrilled to review Roubini’s recent Project Syndicate commentary, Gordon Gekko Reborn.
As you read Roubini’s commentary, I encourage you to think whether the recently enacted Financial Regulatory Reform package will fully address and implement the changes Roubini deems necessary. I will add my take as we navigate. On that note, Roubini writes: (more…)
Tags: 2008 market crisis, asset bubbles, bankers and traders, CEOs and boards of directors, conflicts of interest, financial regulation and supervision, financial regulatory reform package, finreg, Gordon Gekko and Charles Ponzi, Gordon Gekko reborn, greed arrogance immorality, greed is good, greed vs fear of loss, is greed good, Larry Doyle, Nouriel Roubini, originate and hold, originate to distribute, parenting, Project Syndicate, repeal of Glass-Steagall, Roubini on greed and amorality, Sense on Cents, teaching morality and values, too big to fail, vices vs virtues, Wall Street Michael Douglas, Wall Street partnerships
Posted in General | 5 Comments »
Posted by Larry Doyle on July 16th, 2010 1:02 PM |
What do industry insiders think of the Financial Regulatory Reform package coming out of Washington? The Wall Street Journal provides a fascinating review in Fed Gets More Power, Responsibility. Let’s navigate.
1. Henry Paulson
Former Treasury secretary
Grade: Incomplete
The systemic-risk council, tougher Fed regulation over top financial institutions and new authority to wind down failing institutions are essential steps forward. Improving derivatives rules is a real positive. But the bill doesn’t tackle Fannie and Freddie, and there are too many unknowns as to how the regulations will be applied.
Will it help prevent another crisis? (more…)
Tags: Bill Gross on financial regulatory reform, Douglas Elliott, Eugene Ludwig, Fed Gets More Power responsibility, Fed powers, Federal Reserve, feelings about financial regulatory reform, finreg, gary Stern, Harvey Pitt, henry Paulson on financial regulatory reform, insiders views on financial regulatory reform, Mark Zandi, Nouriel Roubini, peter Wallison, Raghuram Rajan, Simon Johnson, William Isaac
Posted in General, regulation | 6 Comments »
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