Were not so quick to slather it
On those who watch and legislate it,
Less so for to regulate it,
Likely there'd be risk in it,
But less than now exists in it,
Regaining public trust in it
When rules are more robust in it.
Last night, Dr. Goose attended a stimulating panel discussion at the Museum of the City of New York entitled: "Can Wall Street Reinvent Itself?" The short answer is that nobody knows, but you can provoke some necessary clear thinking and soul-searching when smart, knowledgable and conscientious people tackle the question. Moderated by NYU financial law professor and retired Lehman investment banker Ronald Filler, the panel included -
- Josh Brown, financial advisor at Fusion Analytics and former broker, author of Backstage Wall Street, blogger at Reformed Broker;
- Heidi N. Moore, New York bureau chief of Marketplace radio and former Wall Street Journal reporter;
- Bill Miller, partner at the Herskovits law firm, providing legal counsel to securities-industry firms, registered persons, whistleblowers and defrauded investors; Forbes contributor, blogger at Broke and Broker.
If there was consensus among the panel, it was that the public's trust is damaged and can only be regained by by an industry structure that rewards working in the client's interest, with simple, strong rules to enforce such behavior.
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Many Iraqi dinar speculators have invested in the dinar to take advantage of its historically low value. Currently, the exchange rate according to the Central Bank of Iraq is 1,170 Iraqi dinars to $1. This is in stark contrast to historically high values before the Gulf War of around 1 Iraqi dinar to $3. However, these low values have made the Iraqi dinar an enticing and exciting opportunity. Dinar speculators are looking forward to Iraq stabilizing as a country and waiting for the Iraqi dinar to be on the open market. Currently, Iraqi dinars can only be purchased from private dealers like Dinar Profits since commercial banks have stopped carrying the dinar. Since the dinar is not listed on a foreign exchange, banks do not have an urgency to carry the dinar. Dinar investors are waiting for the dinar to be publicly traded so that market forces will determine the value of the dinar.
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