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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I found that options traders - the Amex was mainly an options exchange - routinely conspired to keep as wide as possible the spreads between the prices investors paid and the prices floor traders paid for the same securities.
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The problem with the focus on speculators, as was demonstrated during the financial crisis, is that it tends to divert attention from the real villains. During the financial crisis, the villains were the actions of the banks, not the speculators betting on bank share prices.
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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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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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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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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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When Corporate America finds a Jayson Blair in its midst, the standard operating procedure is to circle the wagons and deny that any form of liability extends up the chain of command.
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I've met Dick Syron. I like the guy. He's a man's man kind of character, a real charmer, the kind of guy you'd want to have a beer with, as well as being an economist of considerable repute.
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Oil futures were originally created to give heating oil dealers, gas retailers, aviation companies and other businesses a method of hedging against adverse price changes. Instead, they've become just another Wall Street plaything.
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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.