RSS Feed for Economy-Federal AgenciesCategory: Economy-Federal Agencies

‘There’s Something About Mary’ as Madoff Calls Schapiro “a Dear Friend” »

Did FINRA invest its own funds from its internal investment portfolio with Bernie Madoff? Would FINRA’s head Mary Schapiro invest with her “dear friend” Bernie? Stick with me on this and let’s navigate the newest development in this ongoing scam. My concluding remarks provide insights you won’t find in many mainstream media outlets.
High five to [...]

Attorney Richard Greenfield Brands Mary Schapiro and FINRA Execs as “Liars” »

Is Mary Schapiro a liar? Are other FINRA executives also liars?
Fully appreciating that merely asking these questions is aggressive by its very nature, I do not ask them in a derisive fashion. The fact is, the answer to those questions in the eyes of Richard Greenfield is an unequivocal, “Yes!”
Who is Richard Greenfield? I had [...]

Who Is Adam Storch and Is Mary Schapiro Really the Right Person to Head the SEC? »

You must be kidding me.
Our financial regulators, both the SEC and FINRA, certainly failed American investors. The structural failures of these regulators have been highlighted by their own internal reviews authored by David Kotz for the SEC and Charles Bowsher for FINRA.
Over and above the structural failures of these regulators, both the SEC and FINRA [...]

What’s The Big Deal? Everyone’s Doing It! »

That is basically the excuse Rep. Maxine Waters (of ACORN-loving fame) uses for why Rep. Rangel is not going to have any comeuppance for his tax fraud in this article, “Rep. Waters: ‘Many Members’ Suffer From Disclosure Problems Like Rep. Rangel.” Holy smokes.
BONUS look back at Rep. Charlie Rangel. Remember when [...]

Is Wall Street on the Up and Up? »

The core of that question resides within the regulatory oversight of our financial industry. The American public is beginning to learn a lot about this financial regulatory oversight. How so? A month ago, SEC Inspector General David Kotz released a report, Investigation of Failure of the SEC to Uncover Bernard Madoff’s Ponzi Scheme (embedded [...]

No Quarter Radio’s Sense on Cents with Larry Doyle Welcomes Former SEC Attorney Genevievette Walker-Lightfoot, Sunday Night at 8PM »

UPDATE: This episode of No Quarter Radio’s Sense on Cents with Larry Doyle has concluded, but you can listen to an audio playback here.
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Please join me this evening for NQR’s Sense on Cents with Larry Doyle as we dig deeper and work harder in navigating the economic landscape. My special guest will be Genevievette Walker-Lightfoot.
Ms. [...]

Mr. President, Let’s Watch Where Financial Regulatory Rubber Meets the Road »

On the heels of President Obama’s speech on Wall Street at which he called for meaningful financial regulatory reform, I welcome submitting to him and the American public the following video clips. These clips are from Fox Business News “America’s Nightly Scoreboard” with David Asman on September 3rd.
While President Obama and Congress may believe financial [...]

SEC “Botched” Madoff Inquiries - That’s A Comfort… »

I came across this story in my daily paper Thursday, and was immediately taken by the title, first of all, but the sheer incompetence demonstrated by the SEC over a number of years, second of all. It is truly staggering. This headline is only part of the story, though SEC Botched Inquiries Into [...]

Madoff Victims Call Out FINRA »

Is Uncle Sam, in the form of the SEC, attempting to issue a mea culpa, mea culpa, mea maxima culpa in the bungling of the Madoff investigation and trying to conveniently turn the page?
The American public learned very little with the release of the SEC Inspector General David Kotz’s review of the SEC’s failure to [...]

Amerivet Complaint Against FINRA Alleges Madoff Investment »

Note: I originally posted this piece on my blog this morning (Tuesday, August 25th) at 10:47 a.m. Shortly thereafter, the article (”FINRA Rebuffs Amerivet’s Demand to Inspect Records”) that I reference in my post was removed from the Financial Planning website. I was able, however, to get a copy of the Amerivet Securities [...]

How Big a Pay Reform Wave? »

On Friday, detailed compensation plans for the top 25 earners at seven companies — American International Group, Bank of America, Citigroup, Chrysler, Chrysler Financial, General Motors and GMAC — were delivered to the offices of Kenneth Feinberg, the Obama administration’s bailout bonus czar. Why? Because these companies received substantial government funds, and Mr. [...]

What Is Going On With The Economy, Obama?? »

I have some major things going on today, but I did want to touch on the Economy and what has been going on of late. As you may have heard, we have been adding $200 BILLION a MONTH to the Deficit. We are currently bumping up against the $12.1 TRILLION Debt Ceiling as [...]

Is Ben Bernanke a Grand and Wonderful Wizard? »

At the request of some folks here at NQ, here is a piece on a topic which deserves more attention. This post originally appeared on my blog on July 21st.
“There’s no place like home.”
Just as Dorothy in The Wizard of Oz merely wanted to return to the peace and comfort of her home in Kansas, [...]

No Longer Passively Accepting »

I love George Carlin. He is a hero from my youth. Revered from the first time I heard “The Seven Words”. And I still mourn his passing in 2008. So I was a bit surprised by my reaction to viewing Carlin’s excellent riff on “Who Really Controls America.”
Oh, I [...]

Obama Playing ‘Four Corners’ Offense in Budgetball »

I thought Barack Obama liked basketball. Lovers of the game coerced the NCAA to utilize a 24-second clock in order to speed the game up, showcase players’ talents, and render the North Carolina ‘four corners’ offense ineffective. What was the basic premise of that offense? Stall tactics.
Well, welcome to the Brave New World of the [...]

Well, That’s ONE Way To Deal With Those Bonuses »

By now, surely you have heard by now that Goldman Sachs, which has gotten a ton of your hard earned dollars, is now rolling in the dough. Oh, yeah, baby - they are handing out some major big bucks to, well, themselves. I am sure MANY of you will appreciate this:
The average Goldman worker [...]

“Justice Is Nothing But Love With Legs.” »

That’s President Serene Jones, of Union Theological Seminary speaking. She continued, “Justice is what love looks like when it takes social form.”
Wow. This is but one of the profound statements made by Dr. Jones throughout the course of Bill Moyers’ “Journal: Faith and Social Justice,” which also included Dr. Cornel West, formerly [...]

Rep. Edolphus Towns on Bernanke’s Testimony: “Something Rotten in the Cotton” »

I commend Rep. Edolphus Towns (D-NY), Chairman of the House Committee on Oversight and Government Reform. Rep. Town’s closing statement at yesterday’s Congressional hearing culminated some riveting theatre. That said, this is not a one act play. Rep. Towns highlights the need to dig deeper in exposing what truly happened in the midst of the [...]

Is Ben Bernanke a Well-Intended Crook? »

Do the ends ever justify the means? Does being well-intended preclude one from committing a criminal act? If our legislative bodies do not possess the heart and courage to ask these difficult questions, can we assume they are implicitly approving them? Oh, what a tangled web trillions of dollars in financial losses will weave.
The intrigue [...]

Will Russia Add More U.S. Treasurys? “NYET” »

The United States government is very much dependent on foreign investors purchasing U.S. Treasury securities on an ongoing basis. In fact, as our fiscal deficit explodes, it is not an exaggeration to assert that Uncle Sam’s dependence on foreign investment will need to increase.
How interesting that on the day of a $19 billion 10yr Treasury [...]