by Lawrence G. McDonald for The Huffington Post, April 11th, 2011.
I recently delivered a keynote speech in New York city focused on valuable risk management and corporate governance lessons, as well as the future of Financial Reform and its impact on the economy, the capital markets and investors.
Over two dozen institutional investors came up to me after the presentation and were shocked at how little transparency there is coming out of Washington on Financial Reform. The questions were; almost three years after Lehman Brothers what’s been accomplished? Do “too big to fail banks” still have the Federal Reserve and US Treasury held hostage? After all of the stimulus, quantitative easing and experimental drugs, would another Lehman Brothers bankrupt America?
In the last several weeks, I’ve met with two US Senators and two US Congressmen and I don’t like what I’m hearing. These 4 members of Congress are all very high ranking members of the House Financial Services Committee and the Senate Banking Committee. Here’s my color on what’s really happening. (continue reading… )