The Derivative Project

SEC

They Doth Protest Too Much: FSOC, Don’t Be Bullied By Federated’s Threat of Subversion

Reader Note:  This is a repost of a February 1, 2013 The Derivative Project Blog Post that was inadvertently deleted. Federated Investors, the third largest money market mutual fund company has a lot to lose if the FSOC follows through on their proposals to limit systemic risk that money market…

“Dangerous Liaisons”: How They are Harming the Retail Investor

The Project on Government Oversight, “POGO”  released a report today, “Dangerous Liaisons: The SEC Revolving Door”.   The report states:  “A revolving door blurs the lines between one of the nation’s most important regulatory agencies and the interests it regulates. Former employees of the Securities and Exchange Commission (SEC) routinely…

Ameriprise vs Ameriprise: Even Wall Street Knows the Rot…Is that Why Potential Treasury Secretary Pick Chenault Sold It?

Ameriprise employees are suing Ameriprise over breach of fiduciary duty for putting their retirement savings into more expensive funds, packaged by Ameriprise.  Yes, that is self-dealing and a breach of fiduciary duty.  That is what every retirement investor is faced with in every 401k account today.  That is what every…

U.S. Taxpayers Need the Untold Story: Deutsche Bank, Mr. Buffett, and Mr. Khuzami

Former FDIC Chair, Sheila Bair, stated in her most recent book, Bull by the Horns, “If Main Street voters are confused or don’t feel they understand the problems, they are unlikely to exert political influence to correct those problems.” Main Street voters need to understand why President Obama appointed Wall…

President Obama’s Most Critical Appointment To Restore Sustainable Economic Growth

The path to sustainable economic growth and job creation, both globally and in the United States, is clear.  President Obama and Congress must work together to end the dependency of our GDP on financial services income that now represents an ever-increasing percent of our GDP.  This dependency caused the crash…

Chair Shapiro, For Protection of Every Retirement Investor, Please Post this Money Market Notice Today on SEC Website

New Post to SEC Home Page “Given the traditional structure of money market mutual funds and today’s very low short and long-term interest rate environment, please be advised that your retirement accounts may be taking on unnecessary risk for less return in many money market mutual funds.  One may be…

Retail FX Has Largest Ponzi Scheme in History: What SIFMA Did a Few Days Later

They have Stained our Interbank Markets The facts are still coming out about the Peregrine fraud.  As evidenced by the Ponzi scheme of Trevor Cook in Minnesota, as the Star Tribune reported on this $194 million Ponzi scheme in the retail FX markets, the Peregrine situation may be far more…

Material Conflicts, Lack of Training, Lack of Transparency Are at Heart of Financial Crisis

Floyd Norris of the New York Times has a piece today on the Barclay’s “Libor scandal”, Banks Ability to Rig Libor Shows a Change is Needed.  The premise of the piece is excellent, however, Mr. Norris and The New York Times, continue to rely on a circle of sources for…

Congress, Here is Why SEC Chairman Shapiro is Correct on the Need for Money Market Reform

Due Diligence, by the Individual Investor, on Assets held in Money Market Funds is Impossible SEC Chairman Mary Shapiro appeared before the Senate Banking Committee last week to argue the need for crucial money market reform.  Here is her Testimony on “Perspectives on Money Market Mutual Fund Reforms”.  The systemic…