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| Subject: fraud In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and is also a civil law violation. Many hoaxes are fraudulent, although those not made for personal gain are not technically frauds. Defrauding people of money is presumably the most common type of fraud, but there have also been many fraudulent “discoveries” in art, archaeology, and science. (Wikipedia Jan 2010) Corporate governance By John Schroy, on March 10th, 2010 |  Leave a comment  The webcast, This Week in the Boardroom, for February 25, 2010, discusses the issue of stock buybacks with Stephen Lamb, partner of Paul Weiss, a large international law firm prominent in the securities industry. Wall Street seems to have learned little from the Crash of 2008. The big law firms understand that the safe harbor provided by SEC Rule 10b-18 is still firmly in place; shareholders will continue to be defrauded by employee-directors with impunity. March 10th, 2010 | Print Article |  Email Article |  Topics: Corporate Governance, fraud, NYSE, Paul Weiss, SEC Rule 10b-18, Stock Buybacks | Category: Stock Buybacks | Leave a comment |  Short urlFinancial market regulation: By John Schroy, on July 9th, 2009 | Leave a comment  The US SEC was asleep at the switch in the case of Bernard Madoff. The SEC must follow the law, not commonsense. The SEC rule is, ‘Wait until there is a victim. Then investigate’. Furthermore, SEC officials are not punished for dropping the ball. No one lost their pension for failing to warn investors of the Madoff scam. Thanks to the ACLU, the rights of criminals supersede the interests of investors. The myth-fantasy of an all-protective SEC puts millions of naive investors at risk. July 9th, 2009 | Print Article | Email Article | Topics: Bernard Madoff, fraud, Indonesia, law enforcement, Mary Shapiro, non-merit regulation, US SEC | Category: US SEC | Leave a comment | Short urlAssessing the damage By John Schroy, on April 14th, 2009 | Leave a comment  The buyback era began in 1982 when the US Securities and Exchange Commission promulgated Rule 10b-18, granting “safe harbor” to corporations that wished to use equity repurchases to boost market prices in order to give value to executive option schemes. The total value of corporate buybacks since SEC Rule 10b-18, in 2008 dollars, is estimated at $5.77 trillion. Buybacks have been funded not only from profits, but by raiding depreciation reserves and borrowing from banks. April 14th, 2009 | Print Article | Email Article | Topics: Barack Obama, Bernard Madoff, Capital Market Wiki, common stock legend, dividends, fraud, Morningstar, Ronald Reagan, SEC Rule 10b-18, Stock Buybacks, unemployment, US SEC, US taxation | Category: Stock Buybacks, featured | Leave a comment | Short urlFeatured articles on inside pages
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