Ex-IRS commish vs. financial ‘bad guys’
Before Douglas Shulman ran the IRS, he ran FINRA.- Standard Chartered: Keep the fine, deliver the truthAll truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident. –Arthur Schopenhauer L’affaire Standard Chartered Bank (i.e., Iranian money laundering) takes center stage tomorrow with an expected meeting between senior bank executives and Benjamin Lawsky, superintendent of the New York Department of Financial […]
- Barclays scandal: How big will this get?The earthquake that rocked Wall Street and the global financial markets in 2008 continues to reverberate today. Just ask Bob Diamond, CEO of Barclays … or I should say, the former CEO of Barclays. Diamond, the once high-flying American banker, was dethroned overnight as the chief executive of the UK-based bank as public pressure and […]
- ‘Insider trading Is rampant and routine’Wall Street is a simple business that revolves around people and information. In order for Wall Street to thrive, however, and for our markets and economy to prosper, there needs to be a premise of fair dealing on a level playing field. In the thirty years I have been involved in the markets, I had […]
Mary Schapiro’s skeletons in the closetWill we learn in 2012 if SEC chair Mary Schapiro and former senior executives at FINRA engaged in a fraud? The case addressing this question, Standard Chartered v FINRA, has been appealed to the highest court in our land. As such, one might think that most Americans would care to learn if our nation’s top […]- What should ‘Occupy Wall Street’ demand?I received a call yesterday from a reporter inquiring about my recent post Occupy Wall Street’ Should ‘Occupy Washington. Having had a number of previous discussions with this reporter, I welcomed her question as to what I thought the OWS movement should look to achieve or demand. I prefaced my comments by stating that I […]
- The recession never truly endedHow can we have a double dip when we never climbed out in the first place?
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