Salient to Investors: William Cohan writes: Robert Rubin’s fingerprints on Jacob Lew is a grave concern. Rubin was one of the leading purveyors of irresponsible behavior that led to the financial crisis of 2007 and 2008. Robert Strauss taught Rubin two important principles about politics – money is the mother’s milk and
READ MORE... →Salient to Investors: William D. Cohan writes: Mary Schapiro did a lousy job as head of the SEC, of protecting investors from the likes of Bernie Madoff, of holding Wall Street accountable for their extraordinarily bad and criminal behavior leading up to the 2007 and 2008 financial crisis. Obama has added insult to injury by
READ MORE... →Salient to Investors: William D. Cohan writes: We were either naive or stupid to believe Obama’s “change you can believe in” included Wall Street. Robert Rubin protegés were appointed to the three most important economic positions in Obama’s first term: Treasury secretary, national economic adviser, and director of the OMB. Other
READ MORE... →Predictions: Wall Street lawyers and lobbyists continue to mock re-regulation. Expect fewer substantive rules and limitations on risks than now. Nine bills presented in Congress this year are designed to weaken the already weak Dodd-Frank law, mostly by holding off real accountability until the public has lost interest. Barney Frank has succumbed to pressure from Wall Street. Read the full article
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