No, Portia, he wasn’t a flake, but his opponents had fun calling him “Governor Moonbeam”. He was remembered for not moving into Reagan’s Governor’s mansion which he called “Like living in a Safeway”, and preferring a smaller place. Earlier in life he trained to be a Jesuit. Later in life he married.

This story deserves it.

Thanks for the outstanding work.

Greenfield believes that FINRA may have to be disbanded and the self-regulation of Wall Street may have to be scrapped because the self-regulatory model for this industry has failed.

Gosh, what a shock! Self-regulation has ALWAYS worked so well!!! Please don’t tell me about the tooth fairy and Santa, I just can’t take any more disillusionment!!

I think the best way to help is merely spreading the word. How does one do that? Forward my commentary to friends, families, colleagues. Additionally have people read all of my work which is at Sense on Cents and can be easily accessed via the window here at No Quarter.

Information is everything.

Most state attorneys general don’t have resources to devote to securities regulations. It’s the rare state, California and New York for example, which undertakes real enforcement activities. (LD’s comment: I would add that Massachusetts has also aggressively undertaken serious enforcement of securities regulation.)

Today’s news:

State Street Sued: Jerry Brown, California AG, Sues Bank For “Unconscionable Fraud”

http://www.huffingtonpost.com/2009/10/20/post_268_n_327261.html

Jerry’s the front runner for Governor. Lets hope this sends a signal to Washington.

As usual, your posts are so interesting to me, a total moron when it comes to Wall Street. I would love to pass this along to people, but most of my friends are like me. I had little–except for my retirement funds from a public job–in Wall Street. Now all the younger, unretired people will be having to make the greater sacrifices to make up for those losses, as retirees are protected to some extent. I never followed Wall Street, most of its jargon (especially all those entities mentioned as acronyms). But I am extremely interested now because my two sons are not in public jobs, have 401k accounts.

How could someone like me help? Push for Schapiro’s ouster (I’m still dumbfounded by her appointment for COO)? Push for an investigation? Push to really end FINRA? Are there organized efforts to do these things?

It makes an intriguing story. Since everyone I seem to know has lost between 40-60% of their 401K’s in these financial disasters, one can only hope that some day the entire story becomes well known and publicized.

Justice truly need to be done, so there will be no attempts at repeats.

With so much blatant lying going on in the areas of economics and politics the TRUST of the people is being sorely challenged. When a society loses trust in it’s leaders and institutions and feels disempowered to do anything about that, it’s decline is ensured.