Posts Tagged ‘project on Government Oversight’
Posted by Larry Doyle on December 10th, 2010 6:46 AM |
I detest those people and organizations paying mere lip service to issues needing real transparency and accountability.
I love having the voice provided by Sense on Cents so I can highlight a wide array of these issues and so people can more effectively navigate the economic landscape. I also love being able to ask the hard questions and call out those whom I think are not serving the public interest.
What else do I love? I love when a voice far stronger than my own echoes my thoughts, shares my opinion, and blasts away in pursuit of real truth, transparency, and integrity along our economic landscape.
With only a few exceptions, the media as a whole has shown itself unwilling to truly take the gloves off and go after the aforementioned ‘lip serving’ individuals and institutions. Independent watchdogs in pursuit of good government are far more aggressive.
On this note and against this backdrop, I have to admit my adrenaline picked up yesterday. How so? Let’s navigate as I was informed of the following: (more…)
Tags: Amerivet Securities, Darrel Issa, Dodd-Frank financial reform, FINRA Accountability and transparency, FINRA Board of Governors, FINRA Madoff family, FINRA Madoff relationship, FINRA's board, GAO, Government Accountability Office, House Committee on Oversight and Government Reform, House Financial Services Committee, how is Wall Street regulated, issues inside FINRA, Larry Doyle, Mary Schapiro, POGO, POGO letter to FINRA, project on Government Oversight, regulation of Wall Street, Richard Ketchum, SEC, Senate Committee on Banking Housing and Urban Affairs, Senate Committee on Homeland Security and Governmental Affairs, Sense on Cents, Spencer Bachus, Wall Street collapse, what is Finra, who is Danielle Brian, who is on FINRA's board, who is POGO ?, who regulates Wall Street, will FINRA oversee hedge funds and investment advisers
Posted in FINRA, General | 7 Comments »
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 »
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 »
Posted by Larry Doyle on July 9th, 2010 4:14 PM |
Do not underestimate Americans navigating the economic landscape!!
Why?
A few weeks back I was interviewd by Sue Henry of WILK Newsradio in Wilkes-Barre, PA (Media Appearance on Sue Henry Show, UPDATED with AUDIO CLIP) regarding an investor education presentation by FINRA. The presentation held last evening had U.S. Rep Paul Kanjorski (D-PA) as the featured speaker. I am all for investor education. The very purpose of Sense on Cents is to help educate readers on all aspects of our economy, markets, and world of global finance.
The points I raised in the radio interview and subsequently with a local newspaper reporter, Bill O’ Boyle of the Times Leader, was that Rep. Kanjorski sits on two Congressional subcommittees which have received an extensive and detailed letter questioning the very validity of a self-regulatory organization, that being FINRA, for our financial industry. (Details of the letter are included here).
I pressed O’ Boyle specifically to highlight Kanjorski’s responsibility to his constituents in Pennsylvania and the national electorate to address the points highlighted in that letter from the Project on Government Oversight (POGO).
O’ Boyle regrettably but not surprisingly failed to deliver and provided a canned review of the presentation, which I had projected would be a ‘dog and pony’ show. (more…)
Tags: Bill O' Boyle, dog and pony show, financial regulation, FINRA, FINRA investor education at The Woodlands, Hazleton Mayor Lou Barletta, Paul Kanjorski Lou Barletta, Planning Trumps Politics at Fiscal Forum, POGO, project on Government Oversight, Sue Henry, Times Leader, Times Leader July 9 2010, WILK radio
Posted in General | 5 Comments »
Posted by Larry Doyle on June 21st, 2010 10:45 AM |
I can be heard on The Sue Henry Show this morning, shortly after 11am ET. Sue’s show is broadcast on WILK Newsradio in Wilkes-Barre, Pennsylvania.
We will be talking about our favorite financial regulator, FINRA. Representative Paul Kanjorski (D-PA) is scheduled for a dog and pony show with FINRA in early July (details here). The fact is, Kanjorski is a member of two Congressional subcommittees which received a letter from the Project on Government Oversight (POGO) questioning the very validity of the self-regulatory model on Wall Street. Those questions are embodied in my commentary from February 23rd, Is FINRA’s Future in Doubt?.
Kanjorski should forget the dog and pony show and call FINRA on the carpet to answer for the massive shortcomings and transgressions within its purview over the last few years.
If you’d like to listen to The Sue Henry Show live, please click here to bring you to WILK’s website, and then click on the LISTEN LIVE button.
LD
**UPDATE** Click on the following link to listen to an audio clip from my appearance on The Sue Henry Show: LD on The Sue Henry Show
Tags: FINRA event at The Woodlands Plains PA on July 8 2010, Finra event in Pennsylvania July 8 2010, FINRA marketing campaign, FINRA presentation in wilkes-barre pa with paul kanjorski, House Financial Services committee Paul Kanjorski, House Oversight and Government Reform Committee Paul Kanjorski, LArry Doyle interview on Sue Hewnry show WILK 103.1 FM, paul kanjorsi vs lou barletta, paul kanjorski reelection campaign, POGO, project on Government Oversight, Sue Henry Show interview with Larry Doyle
Posted in General | No Comments »
Posted by Larry Doyle on June 16th, 2010 9:43 AM |
The distance from the canyons of lower Manhattan to the now soiled beaches of the Gulf Coast runs about 1300 miles. A long way and decidedly different lifestyles, you may think? I do not think so. In very real terms, the economic disasters centered in each of these locales are virtually contiguous.
As I watched a replay of President Obama’s speech last evening (Red Sox and Celtics games took priority until both those games were effectively decided), I was struck by one segment of Obama’s speech and the stark similarity in the disasters centered on Wall Street and the Gulf. Which segment and which similarity? (more…)
Tags: Auction Rate Securities, BP vs Wall Street similarities, Ken Salazar Mary Schapiro Richard Ketchum, Michael Bromwich, Minerals Management Service, National Commission vs FCIC, Obama, Obama Oval office speech June 15 2010, Obama speech on Gulf oil disaster June 15 2010, phil angelides, POGO, President Obama speech June 15 2010, project on Government Oversight, Remarks by the President to the Nation on the BP Oil Spill, Self regulation of oil and finance, White House website
Posted in General, regulation | 6 Comments »
Posted by Larry Doyle on June 15th, 2010 9:07 AM |
Any employee in any organization knows that an internal disciplinary double standard is the quickest way to kill morale. Happens all the time, right? Likely even worse in organizations with lots of bureaucracy? Uncle Sam would not know how to operate otherwise, you say? The answers to all those questions may be the affirmative, but that does not make a double standard right nor does it mean that it should be tolerated. Why do I broach this topic?
Our friends at the Project on Government Oversight (POGO) released a report just yesterday highlighting the pathetic disciplinary measures and massive double standard at the SEC in responding to recommendations from its own Office of Inspector General (OIG). POGO reports:
….this is not the first time the SEC has refused to follow an OIG recommendation for disciplinary action. (more…)
Tags: a new SEC, accountability at SEC, Darrell Issa, David Kotz, FOIA, FWRO, investigation by POGO, Mary Schapiro, POGO, project on Government Oversight, SEC inmates running the asylum, SEC internal affairs, SEC lack of disciplinary actions, SEC OCIE, SEC OIG
Posted in General, SEC | 21 Comments »
Posted by Larry Doyle on May 7th, 2010 11:30 AM |
The incest is over.
As much as Wall Street and Washington would like to project a sense that our economy is improving and the markets are merely fluctuating, the fact is America is learning more and more that the incest that has infiltrated our financial and economic structures has corrupted America in the process.
Incest does not do much for the participants’ reputations. The risk of a bad reputation remains the greatest risk of all. I see people on Wall Street now scrambling to repair that reputation. Who? (more…)
Tags: Blankfein rebuilding reputation, Blankfein Vows to Rebuilds Reputation, Congress reputation, Congressional Oversight Crippled by Institutional Amnesia, crony capitalism, Danielle Brian, Danielle Brian of POGO, financial and economic structures, Financial Industry Regulatory Authority, FINRA, Goldman Sachs annual meeting, Goldman Sachs reputation, is America corrupt, Lloyd Blankfein, Mary Schapiro, project on Government Oversight, regulators reputation, Wall Street Washington D.C. incest
Posted in General | 4 Comments »
Posted by Larry Doyle on April 7th, 2010 9:03 AM |
Shut up!!!
Imagine being in a situation in which you knew you had to be quiet in order to advance your own personal career, rather than speaking up and blowing the whistle on irregularities and improprieties within your firm. This message is consistently relayed by many a whistleblower who has suffered from having tried to do the right thing. What is the result? Firms tout their virtuous values of integrity, respect, and excellence while effectively muzzling those who would blow the whistle on crimes and illegal practices.
I believe this reality is all too present in many, if not most, industries in our society today. There is absolutely no doubt it is present on Wall Street. (more…)
Tags: Barney Frank, code of silence, Darrell Issa, David Kotz, FINRA, paul Kanjorski, POGO, project on Government Oversight, SEC OIG report on whistleblowers, SEC whistleblower, SEC whistleblower program, Wall Street, Wall Street business as usual, Wall Street regulation, Wall Street sro, whistleblowers on wall street, whistles on Wall Street
Posted in FINRA, General, POGO, SEC | 8 Comments »
Posted by Larry Doyle on March 6th, 2010 12:24 PM |
Regular readers of Sense on Cents know all too well my questions and concerns about the lack of transparency at the Wall Street self-regulatory organization FINRA (Financial Industry Regulatory Authority).
I am a big fan of promoting transparency in order to pursue integrity. Who else is a big fan of the same goals? The Project on Government Oversight (POGO) :
. . . an independent nonprofit that investigates and exposes corruption and other misconduct in order to achieve a more effective, accountable, open, and ethical federal government. (more…)
Tags: absolute immunity for finra, financial regulatory reform, FINRA, FINRA board and executives, FINRA conflicts of interest, Finra investment portfolio, FINRA relationship with Wall Street, FINRA-ARS, immunity without transparency is a license to steal, integrity, Mary Schapiro's compensation, POGO, POGO podcast on FINRA, project on Government Oversight, transparency, Wall Street regulation, what does POGO do?
Posted in General | 1 Comment »
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