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Posts Tagged ‘who is Elton Johnson’

Lt. Colonel Elton Johnson ‘Strongly Recommends’ In Bed with Wall Street

Posted by Larry Doyle on July 23rd, 2014 9:55 AM |

LTC Elton Johnson ANASOAGI am honored and humbled to read a message that was recently widely disseminated to FINRA member firms. The full body of the e-mail is an endorsement by Lieutenant Colonel Elton Johnson Jr. of Karen Fischer, a candidate for a position on the FINRA Board of Governors. Johnson prefaces his endorsement of Ms. Fischer by writing:

My name is Elton Johnson, Jr. I am an Iraq-Afghanistan war vet having served two tours in Iraq and one tour in Afghanistan and a small broker-dealer owner who took FINRA to task to provide more meaningful transparency.

Much of my story is prominently detailed in the book “In Bed With Wall Street” written by Larry Doyle which I would strongly recommend to EVERY FINRA member (Mr. Doyle was introduced to me by Karen Fischer). (more…)

Wall Street’s Meaningless ‘Mea Culpas’

Posted by Larry Doyle on May 18th, 2011 8:56 AM |

“I’m sorry. No, really I am. I did not mean to do it….er, I mean we did not mean to do it. I hope nobody got too badly hurt. Oh, sorry if you did. Really, I mean it and we mean it. I think we were well intentioned but things just got a little out of control. We will definitely try to make sure this stuff NEVER happens again…no, really. This time we definitely mean it. Will you still trust us? Please?”

Are you kidding me? Is “sorry” the best America gets for the ineptitude, incompetence, reckless and abusive behaviors of those on Wall Street and their regulatory overseers in Washington after driving our markets and economy over the cliff?

Who is issuing these meaningless mea culpas? (more…)

What Will We Learn from FINRA’s Annual Meeting on 8-12-10?

Posted by Larry Doyle on August 11th, 2010 12:20 PM |

Wall Street’s self-regulatory organization, FINRA, holds its annual meeting tomorrow inWashington D.C.. What will we learn? Will FINRA’s member firms vote for a number of non-binding proposals which would shine real light on the inner workings of this organization? America deserves to learn so much more than has ever been revealed about FINRA.

I have shared with many people that I believe the underlying tone of our markets would improve if FINRA were compelled to open its books and records. Why do I so strongly believe that? True transparency inherently breeds investor confidence. I made this very point to Joe Giannone of Reuters just the other day. Regular readers of Sense on Cents are fully aware of my feelings. Joe highlights the topics surrounding FINRA for a wider audience as he writes, FINRA Faces Calls to Lift Veil on Finances, Pay:

Wall Street regulator FINRA, which demands disclosure and openness from brokers, is under pressure to lift the veil on its own affairs.

The Financial Industry Regulatory Authority, a private corporation that regulates the nation’s 4,700 brokerages, will learns at its annual meeting on Thursday how many support a dissident’s call for more transparency. (more…)






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