Posts filed under “Regulation”

From Washington to Wall Street

What caused the financial turmoil of the past year? MarketWatch’s David Weidner lays some of the blame on the relationship between government officials and Wall Street.

1/13/2009

Category: Bailouts, Corporate Management, Regulation, Video

The Madoff Whistleblower

Fascinating piece you may have overlooked this week in the Boston Globe on Harry Markopolos, the author of the detailed November 2005 memo to the SEC, identifying 29 red flags about Madoff and concluding he was a fraud. Excerpt: “A month ago, Harry Markopolos was an accountant unknown outside Boston’s financial community. Now the slight,…Read More

Category: Investing, Legal, Regulation

$700 Billion Dollar Attaboy

Today’s must read MSM piece is a brutal Bloomberg column, delineating why the Bailouts have been such a sweet deal for the banks. Despite the gross incompetence and sheer recklessness of Wall Street and the Financial sector, they were handed massive amounts of money with little in the way of returns to the taxpayer, no…Read More

Category: Bailouts, Corporate Management, Regulation

How Long til Madoff Losses Are Recovered ?

Earlier today, we looked at the NYT interactive graphic that calculates how long it will take to return to breakeven for typical portfolio losses. But what if you were one of 8000 Madoff investors, and your portfolio is now worth zero? For starters, you should get $500k from SIPIC. Then, there is the $830 million…Read More

Category: Investing, Legal, Markets, Regulation

Inside Look: Madoff Mayhem

Analysis and Discussion with University of Rochester President Joel Seligman, Also an SEC Historian

January 03, 2009

Featuring Interview with Former SEC Official Jacob Frenkel

January 02, 2009

Category: Legal, Regulation, Video

How to Repair a Broken Financial World

Here is another excerpt — part II — of the all consuming OpEd of the Sunday New York Times by Michael Lewis and David Einhorn: Excerpt: When Bear Stearns failed, the government induced JPMorgan Chase to buy it by offering a knockdown price and guaranteeing Bear Stearns’s shakiest assets. Bear Stearns bondholders were made whole…Read More

Category: Bailouts, Credit, Derivatives, Legal, Markets, Really, really bad calls, Regulation

The End of the Financial World As We Know It (and I feel fine)

The entire OpEd section of the Sunday New York Times has been taken over by an article jointly written by Michael Lewis and David Einhorn, titled The End of the Financial World As We Know It. Its this morning’s must read piece . . . Excerpt: “OUR financial catastrophe, like Bernard Madoff’s pyramid scheme, required…Read More

Category: Bailouts, Credit, Derivatives, Legal, Really, really bad calls, Regulation

Looking Ahead: Madoff, Macworld, CES

The first full week of 2009 will be a busy one in the world of business and financial news, beginning with a House hearing into the alleged Bernard Madoff ponzi scheme and ending with the unemployment report. Stacey Delo reports.

1/2/2009

Category: Markets, Regulation, Video

AIG’s Financial Products Division

I’m fascinated by this huge article in the Washington Post called The Beautiful Machine. Its about AIG’s Financial Products divisions, a hugely profitable operation specializing in derivatives, with roots in Drexel Burnham, that traces its AIG affiliation all the back to 1987. Its the first of three parts, and I’ll pull excerpts from each. Here’s…Read More

Category: Bailouts, Corporate Management, Derivatives, Regulation

Security Fraud Prosecutions Down 87% Since 2000

Some toothless watchdog: This year, the S.E.C. has brought the fewest number of securities fraud prosecutions since 1991. That’s according to the data that the Transactional Records Access Clearinghouse (TRAC), a research group at Syracuse University, has amassed. Soft on White Collar Crime, by the Numbers: • 2008 had 133 prosecutions for securities fraud (thru…Read More

Category: Bailouts, Legal, Markets, Regulation