Bill Singer has written a number of sarcastic, cynical, no-holds-barred critiques of Wall Street's failed regulation and inept regulators but based upon the massive response to this article, he seems to have finally hit the mother lode. Overwhelmingly favorable reviews. Bill cuts to the chase with his hallmark humor -- although, at times, it's too painful to laugh. A must read for all public investors and industry professionals.
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Registered reps often complain that their former employers have wrongfully withheld profits, compensation, commissions, remunerations and/or benefits. Funny thing, though; after some three decades on Wall Street's regulatory scene, I'm having a hard time remembering the last regulatory case that NASD/FINRA ever brought against a member firm for not paying its employees in a timely manner. How is that? I mean, seriously, does FINRA ever hear about one of its member firms doing something dishonorable or unprincipled when it comes to its registered representatives? Am I the only industry lawyer who has heard repeated complaints about brokers being short-changed, underpaid, jammed up, and otherwise screwed by their employers?
TO READ THE FULL ARTICLE, VISIT:
The SEC-CFTC combination is all pomp and circumstance.
Attorney Singer Interview on Morgan Stanley
May 12 (Bloomberg) -- Bill Singer, partner at Stark & Stark, talks with Bloomberg's Erik Schatzker about allegations that Morgan Stanley misled investors about mortgage derivatives it sold them. The firm is being probed by U.S. prosecutors over whether the bank misled clients when it sold them collateralized debt obligations as its own traders bet that the value of the securities would drop, the Wall Street Journal reported today. Morgan Stanley Chief Executive Officer James Gorman denied the allegations.