Information about finance, the economy and business. Entertaining and informative. Seeking Alpha Certified Mark Sunshine Chairman & CEO

Category Archive: SEC

  1. SEC Is Bothering With 2007 Citigroup Disclosure" rel="bookmark">Why The SEC Is Bothering With 2007 Citigroup Disclosure

    Last week while appear­ing on FOX Busi­ness Net­work I was repeat­edly asked why the SEC was both­er­ing with a civil enforce­ment action against Cit­i­group for alleged bad 2007 mort­gage port­fo­lio dis­clo­sure. My FOX Busi­ness friends thought that the SEC’s action was dumb because the U.S. Gov­ern­ment is the largest stake­holder in Cit­i­group and effec­tively con­trols […] [read full story]

    Posted in: economy, Finance, FOX BUSINESS NETWORK, Politics, REGULATION, SEC
  2. SEC Declares War On Capital Market’s Criminals" rel="bookmark">The SEC Declares War On Capital Market’s Criminals

    It didn’t take long for the “new SEC” to begin enforc­ing the law and declar­ing war on white col­lar crim­i­nals that have preyed on the cap­i­tal mar­kets. A cou­ple of weeks ago the SEC filed an insider trad­ing civil suit against two for­mer traders in con­nec­tion with trad­ing in credit default swaps using insider infor­ma­tion […] [read full story]

    Posted in: Cox, Credit Default Swaps, economy, Finance, Mary Schapiro, Public Policy, REGULATION, Regulatory Reform, SEC
  3. “Stupid is as stupid does” — the SEC and CFTC legalize electronic gambling" rel="bookmark">Stupid is as stupid does” — the SEC and CFTC legalize electronic gambling

    For­est Gump said “stu­pid is as stu­pid does” and the lat­est move by the SEC and CFTC to license clear­ing­houses for credit default swaps is about as stu­pid as it comes. Rather than ques­tion­ing the under­ly­ing eco­nomic ratio­nal and legal­ity of credit default swaps, the SEC and CFTC have decided to facil­i­tate the pro­lif­er­a­tion of […] [read full story]

    Posted in: CFTC, Credit Default Swaps, economy, Finance, Public Policy, REGULATION, SEC
  4. Money Supply And Economic Data Weekly Watch – Living in the Twilight Zone

    We’ve entered the twi­light zone. This week’s money sup­ply and eco­nomic data is sur­real. Money sup­ply is grow­ing at an unbe­liev­able pace. As mea­sured by sea­son­ally adjusted M1 and M2, the Fed announced that money sup­ply set new all time records. The quick rate of growth for money sup­ply is actu­ally accel­er­at­ing. Over the last […] [read full story]

    Posted in: Cox, Deflation, Depression, Economic Statistics, economy, Federal Funds Rate, Federal Reserve, Finance, Hoover, Inflation, M1, M2, Madoff, monetary policy, Money Supply, Public Policy, SEC
  5. A Letter To President Elect Obama – How to restore confidence

    Dear Pres­i­dent Elect Obama: As you get closer to inau­gu­ra­tion I would like to make a few sug­ges­tions for your admin­is­tra­tion and its future eco­nomic pol­icy. Every­one knows that the econ­omy is in trou­ble and con­fi­dence in the future is low. Con­fi­dence in the United States eco­nomic sys­tem and gov­ern­ment is our nation’s most impor­tant asset. Unfor­tu­nately, […] [read full story]

    Posted in: Accounting, BANKS, Confidence, Credit Crisis, Credit Default Swaps, Deflation, economy, Fannie Mae, FAS 140, FASB, Finance, Fiscal Policy, Freddie Mac, Mark to market accounting, Obama, Politics, Public Policy, Regulatory Reform, SEC, Securitization
  6. Regulatory Reform is Needed Now To Prevent The Next Bubble and Crisis

    Like a pet ger­bil run­ning end­lessly on a cir­cu­lar wheel, Gov­ern­ment lead­ers are putting all of us on the eco­nomic tread­mill of ser­ial fail­ure. Calls for an imme­di­ate inves­ti­ga­tion into what went wrong and why are going largely unheeded as gov­ern­ment lead­ers claim that a witch hunt is the last thing we need now. Well, I […] [read full story]

    Posted in: Bernanke, Bush Administration, Chris Cox, Credit Crisis, economy, FDR, Finance, Fiscal Policy, McCain, Obama, Paulson, SEC
  7. What does it take to be unfit to be an officer or director of a public company?

    I have a ques­tion for Chris Cox, Chair­man of the SEC. What does it take to be deemed unfit to serve as an offi­cer or direc­tor of a pub­lic com­pany? I ask this ques­tion because I made the mis­take of read­ing the Sar­banes Oxley Act and I am now con­fused. I can’t fig­ure out what […] [read full story]

    Posted in: Chris Cox, Confidence, Executive Fitness, Finance, REGULATION, Regulatory Reform, Sarbanes Oxley, SEC
  8. McCain: “Fire Cox”; Sunshine: “McCain’s wrong. Fire Cox and then exile him. His family can stay…they aren’t guilty.”

    Almost all paths of incom­pe­tence in the cur­rent cri­sis run through the office of the Chair­man of the SEC, Chris Cox. McCain’s solu­tion to fire Cox isn’t tough enough. Exile is bet­ter. For­tu­nately for Cox this isn’t the Stal­in­ist Soviet Union or his fate could be a lot worse. Cox’s fail­ures are too numer­ous to count. […] [read full story]

    Posted in: Accounting, Chris Cox, Disclosure, economy, FAS 157, FAS 159, FASB, McCain, SEC, Short Selling

    This morn­ing I was a guest on FOX Busi­ness Net­work. FOX pro­vided a car and dri­ver to take me to the stu­dio. The dri­ver imme­di­ately started quizzing me on what I was going to talk about on tele­vi­sion. When I told him I would dis­cuss bank­ing and pub­lic mar­kets and that I am a for­mer […] [read full story]

    Posted in: Cox, Credit Crisis, Disclosure, Finance, FOX BUSINESS NETWORK, SEC