The low ...
From CNBC .... ~~~ "When John Thain became Merrill Lynch’s CEO in early 2008, he hired Michael S. Smith Design to revamp his office suite, spending approximately $1.22 million according to documents. The following is a list of the items in the suite:- Area Rug $87,784
- Mahogany Pedestal Table $25,713
- 19th Century Credenza $68,179
- Pendant Light Furniture $19,751
- 4 Pairs of Curtains $28,091
- Pair of Guest Chairs $87,784
- George IV Chair $18,468
- 6 Wall Sconces $2,741
- Parchment Waste Can $1,405
- Roman Shade Fabric $10,967
- Roman Shades $7,315
- Coffee Table $5,852
- Commode on Legs $35,115
The high...
From The Hill ... ~~~ "Taking aim at the Bush administration’s regulatory record, Sens. Charles Schumer (D-N.Y.) and Richard Shelby (R-Ala.) said financial crimes have soared because regulators are underfunded and understaffed. They called for 500 new FBI agents, 50 new assistant U.S. attorneys and 100 extra officials at the Securities and Exchange Commission. “The sort of ‘go-go’ days of the '90s and these last eight years as well took off the heat on people who would wish to violate the law and do fraudulent things. And the best answer to that is to go after them now, not only to punish those who did wrong, but to make sure those who in the future might contemplate it don’t do it.” Schumer said he has cleared the legislation with the Obama administration, including private talks with Treasury Secretary nominee Tim Geithner and economic analyst Lawrence Summers. Schumer and Shelby also said the Banking, Housing and Urban Affairs Committee would take a look at tightening current laws. Shelby is ranking member of the panel and Schumer also sits on the committee. “We’re going to change the regulatory structure, which is outdated, but we also will look at criminal laws and see if there are loopholes there that people were able to get around, and plug those up.” Both senators sidestepped a question about whether they would reject campaign contributions from Wall Street interests being regulated by their committee as a way to boost investors’ confidence." ~~~$ $ $
Here is where we need to go... the people who run financial firms must restore integrity to their dealings... John Thain has a become a poster boy for deceptive and corrupt dealings... he needs to be aggressively investigated for his representations to Merrill and Bank of America's shareholders and Board of Directors ... Wall Streeters must reduce their tolerance for unprofessional and illegal behavior... no more turning away when you see Bernie Madoff's... regulators must move more aggressively on wrong-doers... reduce crony-regulation... sure go ahead and increase staffing... increase training... make open feedback systems at regulators... if warranted put some people in jail... members of Congress best step away from the bankers and other special interests in this fight... reject campaign contributions from financial services interests including the American Banking Association and the Financial Services Roundtable... And transparency... yes please bring some real transparency to the markets... let's begin with the Federal Reserve and the assets that they have been buying... the ones Bloomberg has requested information about... hello President Obama... thank you for Guantamono Bay closing... now open up the financial system... it won't cause it to collapse... it will bring understanding and certainity... start at the top with the Federal Reserve...
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