“Nothing To See Here, Folks”
Sweeping The Scene Clean of Madoff’s Victim’s Blood Bernie Madoff plead guilty to 11 counts of fraud yesterday in Manhattan. While acknowledging that we are not Crime Scene investigators in New York, Vegas or Miami, the SIPA is shocked at the apparent cover up in the whole Madoff mess. Although I’m no genius, I do consider myself […]
“Failed” Regulation??
How To Insult The American Public With A Smile On Your Face Today the SEC Chairman Christopher proclaimed that “ The SEC Failed to Investigate and Probe Madoff”. (Click here to read story). While this might sound to some of you as a small act of contrition and public acknowledgement of his agency’s failings, this […]
Hedge Fund Mess Just Beginning To Come Home To Roost
Why Madoff will not be an isolated case Over a year ago we questioned whether there was sufficient regulation of the Hedge Fund industry (click here to read). In light of the Madoff Meltdown the important question brokers must be asking themselves now is not IF more regulation is necessary, but should one remove one’s clients’ […]
Is It Really A PONZI SCHEME If Nobody Cares?
The Fall of Madoff should come as no surprise. For many years now we have always thought of Ponzi schemes as something that was run out of boiler rooms in Long Island and Boca Raton that would prey on the elderly and unknowledgeable. Today the FBI has announced that one of the most respected names […]
The Emperor’s Shiny New Coat
The cost of corruption by our Government and the prospects for the future. On September 29th 2008 Citibank announced they were buying Wachovia Bank for a whopping $1.00 and that the Federal Government (FDIC) would provide them with up to 300 BILLION in bad debt protection. (cnn article here) The announcement caught this writer by […]
A funny thing happened on the way to the Ball
The Demise of Wall Street's elite firms could reshape Regulation.
The sudden and shocking demise of the Wall Street elite has left an industry in shambles and the American investor in jitters. The collapse of the largest names on Wall Street is being felt all across the world and has caused the Political landscape to suddenly pay more attention to the Economy and less attention to Governor Palin's "my space page". President Bush cancelled his fund raising campaign drive and Barrack Obama is already running commercials blaming the Republicans, while lost in all this is John McCain's suggestion that "Chairman Cox should be fired for betraying the public trust and falling asleep at the wheel"
