Gary Weiss
Gary Weiss
Gary Weiss is an American investigative journalist, columnist and author of two books that critically examine the ethics and morality of Wall Street. He was also a contributing editor for Condé Nast Portfolio. His Business Week articles exposed organized crime on Wall Street and the Salomon Brothers bond trading scandal in the 1990s, and more recently he has covered the 2008 financial crisis and its aftermath. Weiss is co-founder of The Mideast Reporter...
NationalityAmerican
ProfessionJournalist
CountryUnited States of America
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Short-sellers perform a useful function in the market as conduits of negative information, and shorts often complain that they are discriminated against by regulators.
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Kochi, formerly called Cochin, is a former European settlement with a large Christian population and a seafaring heritage. It is a town of enormous charm that reminds some visitors of the Caribbean more than India.
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MF Global used to be known as Man Financial, and it had a reasonably good reputation. It did a humdrum business placing commodities trades for fund managers as well as farmers, grain dealers and others whose livelihoods depend on the vagaries of commodity prices.
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When it comes to making laws that protect the public from the financial services industry, Congress has done a progressively worse job since the Pecora Commission hearings of the early 1930s, which led to Congress taking bold steps to regulate banking and securities firms in 1933 and 1934.
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Ordinarily, the feds piggyback on the S.E.C. in complicated financial cases, but history proves that breath-holding on that score is a dangerous endeavor.
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There are a lot worse things you can do with all your bucks than giving them to even a mediocre mutual fund - such as, for example, giving them to a mediocre hedge fund. If supporting the lifestyle of a mediocre fund manager is your favorite charity, who am I to stop you?
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For Randy Neugebauer, the Texas Republican who chairs the investigations subcommittee, the top sources of funding for his 2012 reelection campaign are from the insurance, banking, finance, securities and real estate industries.
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Even a casual reader of the financial pages knows that microcaps are a perennial headache for regulators and, above all, for investors because they have been prone to abuse by stock manipulators.
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Debt collectors should be required to disclose the applicable statute of limitations in the body of their collection letters, in bold type. While it's not illegal to dun a consumer for an old debt, it is illegal to sue for one.
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Conspiracy theories feed on opacity, and that's a longtime problem with short selling. Large long positions must be reported to the Securities and Exchange Commission in public filings, but not large short positions.
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Broadcasts from the floor of the New York Stock Exchange have propelled once-obscure financial journalists such as Maria Bartiromo to celebrity status and made CNBC to investors what ESPN is to sports fans.
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At their worst, message boards can subject you to mindless braying or outright stock scams. But at their best, they provide meaty insights on just about every stock imaginable.
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All too often, the pitchmen are selling the notion that if you gain 'control' over your financial destiny - pick your own stocks and execute your own trades - it will be the first step on a short road to riches.
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With such enormous bucks devoted to trading in oil and other commodities, the distortions that they cause have been exacerbated.