Excerpt:
Criticism
According to a study by Deborah G. Heilizer and Brian L. Rubin, both partners in Washington with Sutherland Asbill & Brennan LLP, regulators with NASD and NYSE Regulation (now collectively known as FINRA) obtained supersized fines (i.e., fines over US$1 million) in 35 actions taken in 2005. In 2006, that number dropped to 19. And the number of enforcement actions over US$5 million also fell. In 2005, there were seven such actions as opposed to three in 2006. According to the written report, the “data suggest that securities regulators may have retrenched their efforts to regulate through the use of novel theories.”[7]
FINRA levied fines against financial firms totaling US$40 million in 2008, according to a Wall Street Journal analysis. That was the third straight annual decline in fines levied by FINRA or one of its predecessor agencies. The total was 73% below the US$148.5 million in fines collected in 2005.[8] According to FINRA, the fines levied in 2009 were nearly $50 million.[9]
In March 2010, Project on Government Oversight (POGO), a non-profit watchdog organization, wrote a letter to Congress criticizing FINRA and other self-regulatory organizations for what POGO described as a failure to adequately regulate the financial sector. POGO claimed that FINRA and other SROs are unable to regulate effectively due to their close ties with the securities industry that they are supposed to regulate; for example, Bernard Madoff was vice-chairman of NASD, FINRA's predecessor, while he was running his ponzi scheme, his son was on the National Adjudicatory Council whose job it was to review FINRA's disciplinary decisions, and his niece was a member of a compliance advisory committee of FINRA. POGO also attacked FINRA's multi-million dollar executive compensation packages, failure to warn other investors about the imminent collapse of the auction rate securities market despite having liquidated its own investment in the market, spending of large amounts of money and resources on advertising and campaigning in an attempt to gain more power, and the higher transaction costs to investors that are created when an industry regulates itself.[10][11]
According to POGO, FINRA has an "abysmal record of protecting the investing public", incestuous ties to the very industry it is supposed to be overseeing, "was asleep at the wheel for most of the major securities industry scandals dating back to the 1980's," and "took a hands-off approach to regulating many of the larger firms that" collapsed, engendering "the financial crisis, including Bear Stearns, Lehman Brothers, and Merrill Lynch" ... and also failed to detect Bernie Madoff's US$65 billion Ponzi scheme. "Yet despite its countless regulatory failures leading up to the financial meltdown, FINRAS's board has repeatedly approved outrageous seven-figure compensation packages for its top executives."[12]
http://www.bloomberg.com/news/2011-05-27/fed-s-loans-eu-bank-penalties-finra-fines-compliance.html
Excerpt:
Fed’s Loans, EU Bank Penalties, Finra Fines, Austria Raids: Compliance
By Carla Main - May 27, 2011 5:09 AM PT
Credit Suisse Group AG (CSGN), Goldman Sachs Group Inc. (GS) and Royal Bank of Scotland Group Plc (RBS) each borrowed at least $30 billion in 2008 from a Federal Reserve emergency lending program whose details weren’t revealed to shareholders, members of Congress or the public.
http://uk.reuters.com/article/2011/07/14/idUS122105+14-Jul-2011+PRN20110714
Excerpt:
Harris Corporation Network to Provide Early Warning of Potential Disturbances in Regional Electric Grid for Western U.S. and Canada
Excerpt:
General Electric's Military Jet Engines Division
Geo-Centers Inc.
GMD Solutions, Inc.
Goodrich Corporation
GTE
Halliburton Company
Harris Corporation / Harris Corporation
PR Newswire
MELBOURNE, Fla., July 14, 2011
- Wide area network to support the Western Electricity Coordinating Council and other participating organizations
- Key component in implementing real-time vulnerability detection in region's electric grid
- Enables organizations to take timely actions that help avoid widespread system blackouts
Harris Corporation (NYSE: HRS), an international communications and information technology company, has been awarded a five-year contract to provide a wide-area network that will help detect and avert regional electrical system disturbances in a service area that extends from Canada through 14 western U.S. states.
The private network will enable the Western Electricity Coordinating Council (WECC), a forum for promoting regional electric service reliability, and other participating entities, to take timely actions to avoid widespread system blackouts.
Excerpt:
Harris will serve as the systems integrator and provide overall program management. Other Harris team members on the program include: Accenture LLP; Unisys Corporation; Dell Computer Corporation; High Tech Computer Corporation; Sprint; Oracle; Client Network Services, Inc.; and Headstrong.
Excerpt:
North American Electric Reliability Corporation
- North American Electric Reliability Corporation Stuntz, Davis & Staffier, PC $10,000 2009 1st Quarter
- North American Electric Reliability Corporation North American Electric Reliability Corporation $50,000 2009 1st Quarter
- North American Electric Reliability Council Stuntz Davis & Staffier, P.C. 2008 2nd Quarter
- North American Electric Reliability Council Stuntz Davis & Staffier, P.C. $10,000 2008 4th Quarter
Excerpt:
Contributor
Linda Stuntz
Biography provided by participant
Linda Stuntz is a founding partner of the law firm of Stuntz, Davis & Staffier in Washington, D.C. Her law practice includes energy and environmental regulation, as well as matters relating to government support of technology development and transfer. Stuntz served as deputy secretary at the Department of Energy and in other senior policy positions at DOE between 1989 and 1993. From 1981 to 1987, Stuntz was an associate minority counsel and minority counsel to the House Energy and Commerce Committee.
In addition to her legal practice, Ms. Stuntz currently serves on the boards of directors of Schlumberger Limited and Raytheon Company. She is a member of the Energy Bar Association, Electricity Advisory Council for the Energy Department, and the Harvard Environmental Law Review Advisory Board.
Excerpt:
Allan Schoening "has over 25 years of international corporate management experience with large industrial companies, most recently as Senior Vice President, Human Resources and Public Affairs at Kinross Gold. He previously held senior human resources positions at Barrick Gold, Toromont/Caterpillar, Nielsen Marketing and Schlumberger Limited.
"Mr. Schoening is a graduate of the University of Alberta and has completed post-graduate and executive development studies at Pepperdine University, Columbia and the Wharton School of Business." [1]
- Senior Vice President, Corporate Affairs, Katanga Mining
Excerpt:
Schlumberger Limited (NYSE:SLB) is "the leading oilfield services company supplying technology, project management and information solutions that optimize performance for customers working in the international oil and gas industry. The company comprises two primary business segments - Schlumberger Oilfield Services and WesternGeco."
Schlumberger employs "over 50,000 people of more than 140 nationalities working in 100 countries," a reported revenue in 2003 of $11.5 billion, and with its principal offices in New York, Paris and The Hague.
Executive Management
- Andrew Gould, Chairman & CEO, Schlumberger Limited
- Jean-Marc Perraud, Executive Vice President & CFO, Schlumberger Limited
- Chakib Sbiti, Executive Vice President, Schlumberger Oilfield Services
- Dalton Boutte, President, WesternGeco
- Other Members of the Management Team.
Andrew Gould, Chairman & CEO, Schlumberger Limited
EXCERPT: External appointments (current and recent):
- Chairman and Chief Executive Officer of Schlumberger Limited since 2003
- Member of the Advisory Board of the King Fahd University of Petroleum and Minerals in Dhahran, Saudi Arabia since 2007
- Member of the commercialization advisory board of Imperial College of Science Technology and Medicine, London since 2002
- Member of the UK Prime Minister's Council of Science and Technology from 2004 to 2007
- Member of the Board of Trustees of King Abdullah University of Science and Technology in Jeddah, Saudi Arabia since October 2008
http://www.abeldanger.net/2011/06/schlumberger-director-jamie-gorelick.html
Excerpt:
Tuesday, June 21, 2011
Schlumberger Director Jamie Gorelick - ‘Entrust’ Public Key Infrastructure - Delegation, Authorization and Coordination - Acts of Sabotage - Matrix 5
Dear Prime Minister Harper:
June 20, 2011
Gorelick's Entrust, Twin Tower Cutter and Deepwater Cat Bond Bomb
Abel Danger believes that Crown Agents’ Sister and former Schlumberger director Jamie Gorelick, used ‘Entrust’ public key infrastructure to delegate, authorize and coordinate the following acts of sabotage by Matrix 5 community organizers:
1. ‘Chemical Cutting’ of World Trade Center Twin Tower box columns on 911
2. Triggering of Deepwater Horizon drilling-rig incendiary bombs in April 2010
3. Staging BBC-Aljazeera productions of snuff films for live broadcast on .tv
4. Spoliation of evidence of 911 and DH cat-bond frauds on Lloyd’s of London.
Prequel:
Graphics Interface - Entrust PKI - Fukushima Martec Bomb? - Lloyd’s Register and Martec Saboteurs - Cat Bonds - Fukushima - Matrix 5 Man-In-The-Middle
June 20, 2011
Gorelick's Entrust, Twin Tower Cutter and Deepwater Cat Bond Bomb
Abel Danger believes that Crown Agents’ Sister and former Schlumberger director Jamie Gorelick, used ‘Entrust’ public key infrastructure to delegate, authorize and coordinate the following acts of sabotage by Matrix 5 community organizers:
1. ‘Chemical Cutting’ of World Trade Center Twin Tower box columns on 911
2. Triggering of Deepwater Horizon drilling-rig incendiary bombs in April 2010
3. Staging BBC-Aljazeera productions of snuff films for live broadcast on .tv
4. Spoliation of evidence of 911 and DH cat-bond frauds on Lloyd’s of London.
Prequel:
Graphics Interface - Entrust PKI - Fukushima Martec Bomb? - Lloyd’s Register and Martec Saboteurs - Cat Bonds - Fukushima - Matrix 5 Man-In-The-Middle
http://biggovernment.com/jdunetz/2011/03/24/jamie-gorelick-who-helped-to-bring-us-911-and-housing-collapse-is-on-short-list-to-lead-fbi/
Excerpt:
OOPS! Hey She forgot to share that memo. I am sure she is sorry.
9 11 Investigation & Cover up Jamie Gorelick Should Resign 4 14 2004 FOX
http://www.youtube.com/watch?v=r38jQi5nIk8
Gorelick was appointed the Vice Chairman of Fannie Mae and served in the role from 1997 to 2003. During that six-year period, she earned over $26 million. During her tenure, Fannie suffered a $10 billion accounting scandal, because of falsified transaction. These bogus tranactions helped FNMA hit earnings targets for 1998, which triggered bonuses for top executives including nearly $800,000 to Gorelick
During Gorelick’s tenure Fannie Mae began to bundle subprime loans into securitized financial instruments.
http://www.abeldanger.net/2011/06/entrust-authorities-corporal-marie.html
Excerpt:
Monday, June 20, 2011
'Entrust' Authorities - Corporal Marie-France Comeau - Snuff-Film Contract Hit - Pedophile Pilot Russell Williams - Financed From KPMG
Dear Prime Minister Harper:
June 20, 2011
Why Harper’s Governor General hid Corporal Comeau contract hit
Abel Danger believes Crown Agents Sister Laureen Harper procured (?) the appointment of David Johnston as Canadian Governor General to position him with the ‘Entrust’ authorities needed to hide evidence that Corporal Marie-France Comeau was killed by the pedophile pilot Russell Williams, not in a random act of torture, rape and murder, but, in a snuff-film contract hit, allegedly financed from KPMG's abusive tax shelters and RCMP pension funds.
http://en.wikipedia.org/wiki/Laureen_Harper
Excerpt:
Laureen Ann Harper (née Teskey; born June 1963) is the wife of Canada's 22nd Prime Minister Stephen Harper.
http://www.dailypaul.com/162468/stephen-harper-seeks-majority-to-dissolve-canada-in-favor-of-north-american-union
Stephen Harper seeks majority to dissolve Canada in favor of North American Union
June 20, 2011
Why Harper’s Governor General hid Corporal Comeau contract hit
Abel Danger believes Crown Agents Sister Laureen Harper procured (?) the appointment of David Johnston as Canadian Governor General to position him with the ‘Entrust’ authorities needed to hide evidence that Corporal Marie-France Comeau was killed by the pedophile pilot Russell Williams, not in a random act of torture, rape and murder, but, in a snuff-film contract hit, allegedly financed from KPMG's abusive tax shelters and RCMP pension funds.
http://en.wikipedia.org/wiki/Laureen_Harper
Excerpt:
Laureen Ann Harper (née Teskey; born June 1963) is the wife of Canada's 22nd Prime Minister Stephen Harper.
[edit] Life and career
The eldest of three, Teskey was born in Turner Valley, a rural town south-west of Calgary, Alberta. Her parents were ranchers and owned an electrical contracting company; the Teskeys divorced in 1991, after 29 years. After graduating from Oilfields High School, she attended the Southern Alberta Institute of Technology where she studied journalism and photography.[1]http://www.dailypaul.com/162468/stephen-harper-seeks-majority-to-dissolve-canada-in-favor-of-north-american-union
 |
Submitted by Habit4ming on Thu, 04/21/2011 - 16:17
http://bigpicture.typepad.com/comments/2006/04/rodman_renshaw_.html
Excerpt:
On Feb. 28, Mr. Murray sent the first of two e-mail messages to William A. Iommi, Rodman's head of compliance, asking that the firm remove his name from coverage of Halozyme. All analysts must certify that their reports truly reflect their opinions, and because Mr. Murray's previously issued buy recommendation no longer reflected his view, he said he should not be held accountable for it. On Thursday, March 2, Mr. Iommi told the firm's employees that Mr. Murray was leaving its research department. "In his new role at Rodman, he will be exploring the creation of an asset management business for Rodman & Renshaw Holding," Mr. Iommi wrote in an e-mail message. Twelve days later, Mr. Murray was fired.
I have no position in of Halozyme Therapeutics; In fact, before reading the article, I cannot even recall hearing of the company.
http://www.brokeandbroker.com/index.php?a=blog&id=548&print=1
Excerpt:
$10.7 Million FINRA Arbitration Award Against Rodman & Renshaw Former Employee.Written: September 2, 2010
Rodman & Renshaw and other Claimants filed a FINRA Arbitration Statement of Claim (initially in October 2006 and thereafter as amended) against Respondent Matthew N. Murray. Among other claims, Claimants alleged defamation, tortious interference with business relations, breach of fiduciary duty, conversion, breach of contract, and prima facie tort, trademark infringement, and cybersquatting. In the Matter of the Arbitration Between Rodman & Renshaw, LLC, John Borer, Edward Rubin, Michael Vasinkevich, and Wesley K. Clark, Claimants, vs. Matthew N. Murray, Respondent (FINRA Arbitration 06-04643, August 26, 2010).
Who Controls Wall Street
http://thezog.wordpress.com/who-controls-wall-street/
Excerpt:
Summary:
Of the fifty-one(51) senior executives of the major Wall Street banks, trade exchanges, and regulatory agencies, thirty-seven(37) are Jews or have Jewish spouses. This is a numerical representation of 72%. Jews are approximately 2% of the U.S. population.* Therefore Jews are over-represented among the senior executives of the major Wall Street banks, trade exchanges, and regulatory agencies by a factor of 36 times(3,600 percent).
* Jewish Population of the United States by State:
http://www.jewishvirtuallibrary.org/jsource/US-Israel/usjewpop.html
Mel Hurtig, the former elected leader of the National Party of Canada, a noted Canadian author and publisher, and the founder of the Council of Canadians has revealed that senior elected representatives and advisors to the Conservative Party, are currently planning a scheme to dissolve Canada in favor of North American Union. Harper is seeking a majority government (for the 4th time) in order to implement this treasonous agenda.
Excerpt:
http://en.wikipedia.org/wiki/Gretchen_Morgenson
Excerpt:
New York Times
In May 1998 Gretchen Morgenson became the assistant business and financial editor at the New York Times. She has written about the conflicts of interests between financial analysts and their employers who generate income money from the companies that the analysts assess.
Beginning in 2005, Morgenson has been focusing on executive compensation packages being paid by American companies that she asserts has reached levels far in excess of what can be justified to shareholders.
In 2006, Morgenson broke a story about a Wall Street analyst (Matthew Murray) who was fired shortly after he reported emails to Congress concerning potential violations of SEC regulation AC by the investment bank (Rodman & Renshaw) that he worked for at the time. The emails allegedly documented that the investment bank wouldn't let the analyst lower his rating, or have his name removed from coverage, of an investment banking client. A subsequent article by Morgenson highlighted a letter she obtained from the Senate Finance Committee in which Senator Grassley stated that the investment bank's Chairman (General Wesley Clark) had acknowledged to his staff that the analyst had been fired from the investment bank as a result of reporting the emails to Congress.[3]
In 2009, The Nation called her "The Most Important Financial Journalist of Her Generation".[4] She has appeared on Bill Moyers Journal,[5] and Charlie Rose.[6]
Wesley Kanne Clark
From SourceWatch
U.S. Army (Ret.) General Wesley Kanne Clark is "presently Chairman and CEO of Wesley K. Clark & Associates, a strategic advisory and consulting firm" and Chairman of Rodman and Renshaw, "a New York based investment bank."[1]http://en.wikipedia.org/wiki/Gretchen_Morgenson
Excerpt:
New York Times
In May 1998 Gretchen Morgenson became the assistant business and financial editor at the New York Times. She has written about the conflicts of interests between financial analysts and their employers who generate income money from the companies that the analysts assess.
Beginning in 2005, Morgenson has been focusing on executive compensation packages being paid by American companies that she asserts has reached levels far in excess of what can be justified to shareholders.
In 2006, Morgenson broke a story about a Wall Street analyst (Matthew Murray) who was fired shortly after he reported emails to Congress concerning potential violations of SEC regulation AC by the investment bank (Rodman & Renshaw) that he worked for at the time. The emails allegedly documented that the investment bank wouldn't let the analyst lower his rating, or have his name removed from coverage, of an investment banking client. A subsequent article by Morgenson highlighted a letter she obtained from the Senate Finance Committee in which Senator Grassley stated that the investment bank's Chairman (General Wesley Clark) had acknowledged to his staff that the analyst had been fired from the investment bank as a result of reporting the emails to Congress.[3]
In 2009, The Nation called her "The Most Important Financial Journalist of Her Generation".[4] She has appeared on Bill Moyers Journal,[5] and Charlie Rose.[6]
http://bigpicture.typepad.com/comments/2006/04/rodman_renshaw_.html
Excerpt:
On Feb. 28, Mr. Murray sent the first of two e-mail messages to William A. Iommi, Rodman's head of compliance, asking that the firm remove his name from coverage of Halozyme. All analysts must certify that their reports truly reflect their opinions, and because Mr. Murray's previously issued buy recommendation no longer reflected his view, he said he should not be held accountable for it. On Thursday, March 2, Mr. Iommi told the firm's employees that Mr. Murray was leaving its research department. "In his new role at Rodman, he will be exploring the creation of an asset management business for Rodman & Renshaw Holding," Mr. Iommi wrote in an e-mail message. Twelve days later, Mr. Murray was fired.
I have no position in of Halozyme Therapeutics; In fact, before reading the article, I cannot even recall hearing of the company.
http://www.brokeandbroker.com/index.php?a=blog&id=548&print=1
Excerpt:
$10.7 Million FINRA Arbitration Award Against Rodman & Renshaw Former Employee.Written: September 2, 2010
Rodman & Renshaw and other Claimants filed a FINRA Arbitration Statement of Claim (initially in October 2006 and thereafter as amended) against Respondent Matthew N. Murray. Among other claims, Claimants alleged defamation, tortious interference with business relations, breach of fiduciary duty, conversion, breach of contract, and prima facie tort, trademark infringement, and cybersquatting. In the Matter of the Arbitration Between Rodman & Renshaw, LLC, John Borer, Edward Rubin, Michael Vasinkevich, and Wesley K. Clark, Claimants, vs. Matthew N. Murray, Respondent (FINRA Arbitration 06-04643, August 26, 2010).
Who Controls Wall Street
http://thezog.wordpress.com/who-controls-wall-street/
Excerpt:
Summary:
Of the fifty-one(51) senior executives of the major Wall Street banks, trade exchanges, and regulatory agencies, thirty-seven(37) are Jews or have Jewish spouses. This is a numerical representation of 72%. Jews are approximately 2% of the U.S. population.* Therefore Jews are over-represented among the senior executives of the major Wall Street banks, trade exchanges, and regulatory agencies by a factor of 36 times(3,600 percent).
* Jewish Population of the United States by State:
http://www.jewishvirtuallibrary.org/jsource/US-Israel/usjewpop.html
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