Word: firms
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...stock. Miller says preferred equity does nothing to help out common shareholders. That's because holders of preferred shares can demand their money back before holders of common stock can. As a result, bank stocks continue to plummet. And no matter how much total capital a bank or any firm has, if its stock goes to zero, it can't really operate...
...Schapiro's financial self-regulation background may not be enough. According to Dr. Fred Dunbar, senior vice president at NERA, an economic consulting firm, "banks are suppose to behave themselves under self-rule." During the Bush Administration this popular belief drifted over to the SEC, Dunbar says. "The feeling was, with the SEC, that with such self-enforcement they wouldn't have to step up their own enforcement. But the financial crisis has led to a re-examination of this theory, firms don't behave as one might think in theory...
...Richard Wallace knows something about Schapiro and believes she will take bold action. Wallace worked at Schapiro's FINRA for the last 12 years, and before that was an enforcement prosecutor at the SEC. Wallace is now partner at the law firm Foley & Lardner, chief counsel of its financial industry regulatory authority practice. "Within a few months of coming on board at FINRA, Mary brought charges against Banker's Trust Securities," Wallace says. "She jumped right in, she beefed up enforcement, and wasn't afraid at all to take on powerful interests. She was an enforcement officer once, and enforcement...
...like a Pied Piper," said Michael Devine, a Port Jefferson, N.Y., lawyer who represents salespeople at the firm who "felt something wasn't right." The salespeople were selling friends and family on Agape's high-yield claims. "[Cosmo] actually sat down with investors and explained his investments to them. He was a very convincing salesman," said Devine. (Read "Beyond Madoff, Ponzi Schemes Proliferate...
...Navina Sensory Bath - filled with herbs and essentials oils to detoxify and replenish the skin - for two. Once waterlogged, you start an 80-min. Odyssey Ayurvedic treatment with five therapies - among them, a Garshana exfoliating treatment, an Abhyanga tension-dissolving massage and a Vishesh treatment, during which technicians use firm, precise hand strokes to deepen the healing process. The tactile adventure finishes off with a Marma treatment to revitalize your inner energy. (I'm not sure what any of that means, but it sure sounds good.) Before you leave, you and your partner get a 15-min. hand massage workshop...