wnyc.org / 93.9fm / am 820

Comments

• [1] superf88 March 21, 2008 - 09:18AM

  Did your legislation simply squeeze wealth, like a tube of toothpaste, from trading in listed companies (what is mainly governed by SOX) to lighting up the marketplace of private equity and hedge funds -- who for the last five years have turned their attention to exotic instruments (such as mortgage backed securities) an even more huge and risky realm, derivatives? (Not to mention the latest faux capitalist jalopy, the Chicago Market Exchange!...)

  A deeply insightful rule of thumb I heard in Asia goes like this: "Biggest fish are caught in the murkiest waters." In 2008, it seems to be exquisitely fitting.

  
  
• [2] John from Manhattan March 21, 2008 - 10:09AM

  Bigger question is whether Glass Steagal should have been repealed?

  
  
• [3] daf March 21, 2008 - 10:16AM

  Now you support legislation of regulation that tightens mortgage requirements and limits mortgage interest rates to below 30%? Yes or no

  
  
• [4] Frank from manhattan March 21, 2008 - 10:17AM

  "...just another low risk-high return investment." No Such Thing! He doesn't sound very smart. Anyone who listened to AM radio and heard the come-ons for "no money down, no income check" refinancing and then bought securities rated AAA based on those same mortgages, isn't very smart.

  
  
• [5] daf March 21, 2008 - 10:18AM

  Has your respect for "Capitalism" altered in recent weeks and years?

  
  
• [6] daf March 21, 2008 - 10:19AM

  With ebay who needs Nasdaq and other trading markets?? Seems like a fake, government protected market to the modern man.

  
  
• [7] Robert from NYC March 21, 2008 - 10:29AM

  [[This comment removed for violating the WNYC posting policy. Please, be civil.]]

  
  
• [8] chestinee from Midtown March 21, 2008 - 10:30AM

  Sorry got here too late for Sen Oxley:

  Why did we lose a great guy to work with - a client, a CFO whose co. worked well for a long time and is now a mess -he retired because he couldn't deal with the pressure of punishment for documents he couldn't possibly take personal responsibility for. I think smart people can make smart, viable legislation! SOX does seem to undermine more than enhance at the level of the people who actually have to work with it. That CFO has been replaced by an obtuse blob of a guy and we can't do our work. This is one little picture of the impact of SOX. I htink yes legisaltion but they can do a much better job and whose interests is Sen. Oxley looking out for at Nasdaq? That was no reassuring interview!

  
  
• [9] jjl March 21, 2008 - 10:35AM

  Go check out a hedge fund if you want to find the smart and greedy folks who evaporated from the public companies. Also check the yacht clubs and golf courses of course. Those 3 places.

  
  
• [10] jjl March 21, 2008 - 10:37AM

  (and yes, that interview was frightening indeed, fodder for the cynics. Another powerful man who doesn't sound like even he believes himself, yawn).

  
  
• [11] Richard Wagner from Brooklyn, NY March 22, 2008 - 09:45PM

  About two weeks ago, on a Friday, a doctor called in after your invitation to call in with under covered stories. The story was how a drug, naltrexone in a low dose successfully fought autoimmune diseases and illnesses of the central nervous system. The following Friday you gave a little time to the same subject. A man called in who attacked the story, stating he disproved the claim by statistics. The claim wasn't challenged for veracity, but it should, does this man work for a drug manufacturer? or does he have some other conflict. Why did the doctor originally call, he will not make any money from his information, but he has given hope of relief to thousands of people around the world, and many drug companies without profit from the suffering of sick people.