dr bob thanks for the note, sometimes even I think I go to far. First part of this note is my usual crap; second part is the important stuff.
I have been working on a letter and will complete this weekend to post on YHOO boards (I may, not 100% sure I will follow through). I am going to post it here first to ask for feedback. Basically it will have a link so you can e mail your congressman or woman and asking people to copy the letter and send. Given the current world situation, very bad timing as there are much larger issues out there.
The letter will basically outline suggestions for Wall Street accountability, such as monthly reporting of buy or sell (or whatever they call a sell) recommendations on stocks with a record the firms trading patterns (their trading accounts and large clients) one month prior to the recommendation and for one or two months after the recommendation. The point obviously being if a firm issues a buy and they are doing substantial selling this should be looked at by regulators. It is already illegal to front run analysts’ recommendations, however I am not aware significant monitoring of this practice. Also recommendations on fair disclosure in all media communications and in conjunction with buy/sell recommendations (i.e. any recommendation must disclose investment banking or other possible conflicts of interest).
And a few more on the monitoring front. The letter will also suggest mandatory prison sentences for guilty parties and company directors and officers for rule infractions. This will never fly, but I do believe the only way you can hope to ever change Wall Street is through stricter reporting requirements and accountability both of trading practices and individuals. A number of Wall Street people violate rules on a regular basis, we need better systems and much harsher penalties (not to punish but to protect. As far as I can tell the Congressional hearings have done nothing, they still appear to me to lie, cheat and manipulate. You watch how fast these companies change their already illegal business practices if the upper management know they face criminal prosecution with mandatory sentencing. I do not like government intervention on most accounts, but the market events of the last 3-4 years certainly demonstrate to me corruption and conflict of interest is rampant, and things are not going to change unless we legislate.
Ok now the real important stuff. Sorry to hear of your recent medical reports. The really good stuff I hear, without knowing all the details (which never has stopped me from commenting), is most of what you mentioned is easy to regulate with life style changes and drugs. You will also feel better all the time should you exercise and maintain a healthy diet, so there are some wonderful side effects for these changes.
I am actually an exercise fiend. I ran for over 20 years till my back told me to stop(little side ego note ran marathons years and years ago, best time 2:29. Also ran in the division 3 cross country nationals while in college) so about 5 years ago started swimming and now do 1-1.5 miles a day, and when I am good do it 6 days a week. Worlds most boring exercise, but I think it is important, and also does wonders for my back, and somedays even my mood. As for the diet stuff, there are so many delicious and healthy foods out there this should not even be a sacrifice, just a change.
Change is a bitch for most of us, but many times can provides wonderful things we did not even consider. Good luck with all the medical stuff and I know it will all be fine. |
