I think the proposed legislation identifies several ways in which we can hopefully begin to rectify the problem.
I want to be clear--everybody has been shut out of recovery.
The status quo is a really perverse and rigged system that allows Wall Street to suck in innocent investors.
Well, you are talking about an SEC statement of facts submitted to the district court that was incorrect, that is contra...
I 100 percent agree with you, and in fact, I endorse the proposal allowing the SEC to be able to initiate SIPA proceedin...
we should recognize this fundamental disconnect and correct it in some way, either make that 'Good Housekeeping Seal' wh...
it seems to me that is particularly ironic that it is least certain in many cases of outright fraud versus market failur...
Was there money in the Antiguan bank backing up those CDs?
So, do you think it was a fair characterization in making that argument that in buying CDs, these customers were loaning...
I think it is obvious that you would not be on the short list by SIPC the next time, and that is the conflict I am talki...
I do not think an entity like FDIC would have spent tens of millions of dollars to do back-somersaults to make those sor...
Today, no investor can be confident their assets are protected by SIPC as Congress intended when SIPA was enacted.
Congress owes it to investors to act and to change this.
I think there has to be a better path to ensuring that SIPC, true to its mandate, is truly independent.
There was absolute fraud ab initio.
Right, except they had a CD and they never agreed to lend money to the brokerage firm.
There has been forensic accounting that has shown that there was no money in that Antiguan bank backing up the CDs.
This is a tool that President Obama has used more than any other president to date.
