Re: The crisis caused by bankers may take us to the edge of bankruptcy (Ireland)

[David Farber <dave () farber net>]

Begin forwarded message:

From: "Ed Gerck, Ph.D." <egerck () nma com>
Date: October 21, 2008 10:44:29 AM EDT
To: Chris Beck <cbeck () lb wordpress com>
Cc: dave () farber net
Subject: Re: [IP] The crisis caused by bankers may take us to the edge  
of bankruptcy (Ireland)

Chris Beck wrote:
> On Mon, Oct 20, 2008 at 8:02 PM, David Farber <dave () farber net <mailto:dave () farber net 
> >> forwarded:
>    Begin forwarded message:
>    From: "Ed Gerck, Ph.D." <egerck () nma com <mailto:egerck () nma com>>
>    Are we now in a position to finally state that systems cannot
>    self-regulate?
> Of course not. It can be argued ( imho truthfully but irrelevantly))  
> that the market was still heavily regulated by the SEC and other  
> gov't agencies.

I think there is a consensus that regulation was lacking across the  
board (and not just in the SEC area), pushing the idea that self- 
regulation should be the main control element. Further onto the SEC,  
anyone who has looked into the proxy voting practices in the private  
sector knows that the SEC is looking the other way while company  
management breaks vote secrecy and privacy, and uses "proxy  
solicitors". BTW, I have a full report with candid testimony on this,  
still from the end of Clinton's government. So, it is not a partisan  
problem.

Best regards,
Ed Gerck




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