Stop it now…before it’s too late!
Grasping the numbers
Ladies and gentlemen of the United States, as well as to all foreign investors who are negotiating their funds in the free capital markets in New York…consider yourselves warned. This practice of “Flash Orders” is about as red flag as anyone, anywhere is ever going to get.
Never, ever has there been ‘tolerance’ on this scale! Come to think of it – negligence – would be a better description. Consider the following organizations that somehow have been lesser than honorable with Wall Street and now have excrement all over their faces.
This list reads almost like a ‘Walk down Memory Lane’ however, when one evaluates what has happened to them or more appropriately, what these companies have done to the real victims – the people of the United States and others – it is sure to spark some memories.
Smith Barney, E.F. Hutton, Dean Witter, Paine Webber, and more recently Bear Stearns, Lehman Brothers, and Merrill Lynch. “We make our money the old fashioned way…we earn it…” Smith Barney’s old slogan; or “When E.F. Hutton speaks…everyone listens…” Ladies and gentlemen these are only some of the investment banking firms that have committed some of the most heinous crimes against humanity.
Whilst looking into the banking industry’s ‘list of defunct banks in America’ the sight of 86 pages long just overwhelmed us. So what to do about it? Notwithstanding anything else, the majority of companies from Washington Mutual Bank to Citigroup started out with illicit activities and were somehow overlooked by the Securities and Exchange Commission, FDIC, or regulators and allowed to continue happening until a nation suffered a near melt down financially or, were they?
What was the SEC doing when one man, Bernard Madoff, made off with 68 billion dollars of investor money? Nothing, absolutely nothing! Concerns about Madoff’s business had surfaced as early as 1999, when financial analyst Harry Markopolos informed the SEC that he believed it was legally and mathematically impossible to achieve the gains Madoff claimed to deliver. Since Madoff’s arrest, the SEC has been criticized for its lack of due-diligence, despite having received complaints from Markopolos and others for almost a decade.
So why is Mary Shapiro the head of the SEC? This is directly from her bio at the SEC: Prior to becoming SEC Chairman, she was CEO of the Financial Industry Regulatory Authority (FINRA) — the largest non-governmental regulator for all securities firms doing business with the U.S. public. Chairman Schapiro joined the organization in 1996 as President of NASD Regulation, and was named Vice Chairman in 2002. In 2006, she was named NASD’s Chairman and CEO. The following year, she led the organization’s consolidation with NYSE Member Regulation to form FINRA.
She was the number one person who should have known about all of Madoff’s improprieties. She was the chief executive officer for the company who is supposed to be the ‘barnyard dog’ for the agency that investigates such appalling atrocities. Go figure!
What we are trying to establish is simply this: Illegal activity is AGAIN invading Wall Street and a letter from a senator with the threat of legislation is supposed to stop it? Good legislation most of the time takes years to get passed. Folks these flash orders are going through every single day.
Did you know? Bernie Madoff and his wife gave over $230,000 to political causes since 1991, with the bulk (88%) going to the Democratic Party, and 12% to the Republican Party.
Still more to come…
