Monday, February 15, 2010

Is Mary Schapiro’s Reign Of Negligent Incompetence About To End?

"" The Syndicate Encouraging Corruption lately has been far more busy begging for money from the Tim Geithner’s gargantuan budget than performing any enforcement, analysis, or regulation, case in point today’s second attempt to kill any investigation into the ML/BAC merger.

We hope some Congressional or Senate committee will finally find the guts to subpoena any and all communication between BACML, or any other banks, and the SEC related to this proposed settlement, to uncover just what the SEC’s motives are to fast-lane yet another case involving the endless corruption on Wall Street.

Luckily Cuomo is still there to pursue the punishment of real wrongdoing, since America is now completely unable to rely on the $1 billion publicly funded organization, which, at least on paper, “works in American investors’ interest”… and by American investors we assume the agency does not refer to Goldman Sachs or Bank Of America.

Yet judgment day for Mary Schapiro may soon be coming. Larry Doyle at Sense on Cents notes that next week FINRA’s board of directors will finally address alleged wrongdoings by Schapiro. We join Larry in asking: “Will the Board realize it ultimately needs to be accountable to ALL its
member firms and, by extension, to the American public at large?

Will the Obama administration compel the Board to provide the transparency
America so badly wants?”

A summary of the case against Schapiro is presented below. Should justice be served, the Board will find that Mary Schapiro, even more so than her clueless predecessor Chris Cox, is the most incapable person to head the investor-protection agency in the history of the SEC, and should not only be immediately fired, but should see her excessive compensation and pension benefits from her ineffectual years at FINRA be clawed back with extreme prejudice. ""

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posted here by Investigative Blogger
Crystal L. Cox
Related to and www.iViewit.TV
a Trillion Dollar Shareholder Liability Mary Schapiro is Currently Ignoring.
Crystal Cox Whistleblower