Water Cooler News Links for August 9th, 2010
Today’s news links include: Ousted HP chief reportedly reaches settlement with accuse; Two tobacco firms settle FCPA charges; and 10 Worst Places to Live.
Today’s news links include: Ousted HP chief reportedly reaches settlement with accuse; Two tobacco firms settle FCPA charges; and 10 Worst Places to Live.
No, I’m not “happy” with the outcome of either the financial reform legislation or SEC v. Goldman Sachs. I’m a cynic, and, to that extent, let’s just say that my worst fears have come to full realization.
Among today’s headlines: As CEO Hayward remade BP, safety and cost drives clashed; Putin rips US for arrest of Russian spies; and, Oversight law survives Supreme Court ruling.
Among today’s news links: Lawmakers agree on sweeping Wall Street overhaul; BP now more evil that Goldman Sachs; and America’s most recession-proof cities.
As Bill Singer explains, veteran Wall Street journalist Dan Jamieson recently shed light on yet another troubling example of the impotency of Wall Street’s regulatory system.
In the opinion of Bill Singer, the SEC v. Goldman Sachs & Co. case is likely to become a watershed event in the history of Wall Street regulation and poses the following question: are we now about regime change on Wall Street or merely crowd control?
Goldman Sachs’ high-frequency trading system generates millions of dollars in annual profits for the firm. In June of 2009, computer programmer and former Goldman employee Sergey Aleynikov stole the system’s source code to use at his new company.
Some of Britain’s top traders and bankers would be asked to disclose their pay to the public under proposals presented Thursday in a government-commissioned report on how to avoid future financial crises.
In today’s edition of the GRC news roundup, we look at the CFTC review being faced by Goldman Sachs and Morgan Stanley as well as the antitrust probe facing Teva and Servier.
By Mr. James Bone – former Chief Compliance Officer for Fidelity Investments
No doubt, there will be many articles and commentary on the both the cause and the cure of the current financial crisis. These articles will explore the root cause from many angles and take the perspective of the author’s view based on their insights and participation in the solutions applied.
The purpose of this article is to take a step back and look at the current financial problems as a physician would a patient to diagnose the events as symptoms that led to the eventual financial health failures. What did the patient present as possible leading indicators to the catastrophic event?
