The Derivative Project

Department of Labor and Fiduciary Duty

Introducing the Goldman Syndrome – Review of B. U. Professor Bodie’s Book: Why Academics and Industry Blame Investors for 2008 Retirement Losses

The Derivative Project is introducing a new term, in honor of ex-Goldman Director Greg Smith, “the Goldman Syndrome.” The Goldman Syndrome:  It is a situation when Wall Street does not act in the best interests of its clients, despite being “fiduciaries”.  It is defined as a circumstance when Wall Street…

Why Goldman’s Equity Derivative Director’s Departure Statements Can No Longer Be Ignored by SEC and Congress

Goldman Sach’s Executive Director of Equity Derivatives and head of the Firm’s equity derivative business reported in an Op-Ed piece today, March 9 Letter to Chairwoman Shapiro by The Derivative Project. Mandated training on equity derivatives for every SEC registered investment advisor is woefully long-overdue, but it must also accompany a strict…

GOP Joins the Democrats Asking DOL to Put Wall Street Profits Over Safety of IRA’s

One would think with farmers losing cash in the MF Global collapse last month, that  is still missing -in-action, Congress would begin to think something is “rotten in Denmark” and start to put the farmers and main street Americans over Wall Street.  Congress continues status quo, putting Wall Street’s interests…

Democrats Ditch the Little Guy’s ERISA Fiduciary for IRA’s and Choose Brokerage Industry’s Interests

The Derivative Project is forced to launch its first Wall of Shame.  Who are the first entrants? Congressman Barney Frank (D-MA) and 30 other Democrats who sent a letter to Secretary of Labor Hilda Solis on Monday, November 7 under the “guise” that they are protecting the little guy who…

Occupy Wall Street Will Highlight This Incredible Web of Deceit Finely Tuned by Washington and Wall Street

It is not easy to expose an intricate web of deceit in a short post, but this blog post should be a key 2012 election issue;  if not Occupy Wall Street needs more blankets for a long, cold winter in the park.  They are the future to expose this finally…

Live Blog: Hearing on HFS on Legislation to Improve SEC

The House Financial Services Committee is conducting a Hearing right now on “Fixing the Watch Dog:  Legislative Proposals to Improve and Enhance the SEC”. The Derivative Project will highlight specific comments that directly impact individual retirement investors during this Hearing. 11:40 ET House Financial Services Chair Bacchus just asked Boston…

On Wisconsin! On Wisconsin! 1909 Lyrics Mean So Much Today

What is Really Pushing Governor Walker, When Wisconsin’s Public Pension is one of the Healthiest in the Nation? …a Post about Derivatives, Wall Street’s Behind the Scenes Push for More 401K’s and Neural Linguistics About 7 years ago, my  West Coast brother-in-law introduced me to the writings of George Lakoff,…

The SEC Study on “Fiduciary” is not only conflicted, but Harmful to Retirement Investors, our Youth and our Economy’s Future

Here is the Most Critical, Bi-Partisan Issue that the SEC Failed to Address in Their Study on Brokers and Investment Advisors and the Fiduciary Standard There is a crucial, bi-partisan issue, completely lacking from the just-released SEC study on who is a fiduciary for investment advice.   We can no longer…