Posted by Larry Doyle on August 17, 2011 4:33 PM |

BOMBSHELL!!!

Since early 2009 I have written at length about the regulatory capture that has dominated the financial industry. I have defined this concept in layman’s terms as the Wall Street-Washington incest. Today a close friend and regular reader of Sense on Cents shares a story which blows the cover off this incest.

This story is written by Rolling Stone’s Matt Taibbi, perhaps Wall Street’s greatest nemesis. I commend him and those from whom he has sourced this information to have the courage of their conviction and the embodiment of the true American spirit to bring this story to light.

I ardently believe this expose should lead to public Congressional hearings and ultimately a federal judicial inquiry. Might it be the beginning of the end for Mary Schapiro?

If this story does not lead to the aforementioned hearings and inquiry, then I am compelled to believe that our financial system will NEVER be repaired and properly regulated. Moreover and perhaps more importantly, why would any investor care to participate in Wall Street’s racket? As I have often maintained, when principal is not protected, it will move elsewhere. Do you hear the hiss and the whir of those dollars moving offshore?

To those within the SEC who have any involvement whatsoever in the activities exposed by Attorney Flynn, you are obviously entitled to a fair and full hearing. I hope you get it. This case DEMANDS a full and thorough pursuit of the truth with complete transparency. If it does not get it, I would recommend that Americans march on Washington and Wall Street to demand the truth and the necessary transparency. This story is that important.

America knows all too well that the Wall Street-Washington incest has crippled our economy and also our nation.

Let’s pull back the covers and expose just how deeply in bed and enmeshed these lovebirds are. While these birds have been making sweet love to each other, is there any doubt as to who is really getting screwed?

That’s right, none other than the citizens of the United States of America.

On that note, here is the overwhelming stench of the incest written by Mr. Taibbi, Is the SEC Covering Up Wall Street’s Crimes?

Comments, questions, constructive criticisms encouraged and appreciated.

Please help us take back our country and restore a sense of integrity in the process, SHARE THIS STORY!!

Larry Doyle

P.S. So much for catching you at the turn of the month. Once again the best laid plans…

Isn’t it time to subscribe to all my work via e-mail, an RSS feed, on Twitter or Facebook? Do your friends, family, and colleagues a favor and get them to do the same. Thanks!!

I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets, our economy, and our political realm so that meaningful investor confidence and investor protection can be achieved.