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HomeSense on Cents Endorses H.R. 3482: Restoring Main Street Investor Protection and Confidence Act
Posted by Larry Doyle on December 16th, 2013 10:10 AM |
A year ago, I strongly endorsed H.R. 757 to restore credibility to the Securities Investor Protection Act that had been decimated by the manner in which the Madoff trustee went about its business.
That act went into committee at year-end 2012 and died there, strangled by those legislators feeding at the financial industry’s trough. Fortunately, the forces behind 757 are not easily swayed and they are back with H.R. 3482, legislation entitled as “Restoring Main Street Investor Protection and Confidence Act.”
I welcome endorsing it. Why? (more…)
HR 757: “We the People” for Real Investor Protection
Posted by Larry Doyle on July 31st, 2012 10:06 AM |
In the same spirit as that which inspired those who signed our Declaration of Independence, I welcome attaching my name to the following proclamation in support of HR 757 for real investor protection. What makes the proclamation highlighted below so special? It is truly a grass roots effort. As noted attorney Helen Davis Chaitmain asserted:
People are contributing money for these ads in order to educate the electorate that our representatives (and the SEC) have forgotten that they represent the people. They have allowed Wall Street (“SIPC”) to renege on its statutory obligation to insure each brokerage account up to $500,000. Why would any honest hard-working American vote for someone who doesn’t support this bill?”
Support H.R. 757 for Real Investor Protection
Posted by Larry Doyle on March 5th, 2012 8:47 AM |
All too often I have heard over the last few years from investors violated by the Wall Street-Washington incestuous process and feeling totally disenfranchised as a result. Why have investors gotten trampled?
Great question and worthy of widespread debate and discussion. In an attempt to narrow our focus today, let’s zero in on the Securities Investor Protection Corporation, the organization designed to:
restoring funds to investors with assets in the hands of bankrupt and otherwise financially troubled brokerage firms. The Securities Investor Protection Corporation was not chartered by Congress to combat fraud.
From where does SIPC raise its funds in order to offer this protection to investors? (more…)
Trust Tim Geithner, Larry Summers, Barney Frank?
Posted by Larry Doyle on December 31st, 2009 11:34 AM |
Blank checks are the antithesis of good public policy.
America can not allow the passage of time to lessen the outrage over the Obama administration’s Christmas Eve bonus to the financial sinkholes known as Freddie Mac and Fannie Mae. Platitudes and posturing aside, the American taxpayer is being set up as never before.
A blank check may serve to cover a host of past financial and legislative failures promoted by the likes of Barney Frank, Chris Dodd, John Kerry et al, but who is monitoring and verifying the legitimate and proper use of these funds? Are we to blindly trust Treasury Secretary Geithner, White House economic adviser Larry Summers, and their respective staffs in this process? Are you kidding me? America needs to voice its outrage long and hard. In that spirit, I called yesterday to Audit Freddie and Fannie.
In the same vein, I am heartened by initiatives launched yesterday by Rep. Dennis Kucinich (D-OH), and Reps. Scott Garrett (R-NJ) and Spencer Bachus (R-AL) to pursue an investigation of this blank check.
The Wall Street Journal reports, Lawmakers Want Probe Into Treasury Aid for Fannie, Freddie: >>> (more…)
Tags: audit Freddie and fannie, Barney Frank, Chris Dodd, Dennis Kucinich, Freddie and fannie's blank check, House Financial Services Committee, House Oversight and Government Reform panel, I want to roll the dice, John Kerry, Larry Summers, Scott Garrett, Spencer Bachus, sub-prime lending comment by Barney Frank, Tim Geithner, toxic assets on Wall Street, transferring losses from Wall Street to taxpayers, trust but verify
Posted in Barney Frank, Fannie Mae, Freddie Mac, Larry Summers, Tim Geithner | 9 Comments »