3 chapters across the catalog
The hosts compare the scale of Martha Stewart's insider trading case to the Madoff scandal, noting a massive disparity in financial impact. John C. Dvorak criticizes President Obama's appointment of Mary Shapiro as SEC Chair, highlighting her previous leadership at FINRA during the Madoff era. The segment characterizes Shapiro as a bureaucratic hack with a history of failing to act on financial warnings.
Adam Curry posits that the financial crisis is a "ponzi on top of a ponzi" designed to stick US taxpayers with a $50 billion bill. The hosts examine Mary Shapiro's appearance on the cover of Equities Magazine and her role in consolidating NYSE regulation into FINRA. They argue that the current financial system is a rigged scam where wealth is extracted and then backstopped by the public.
John C. Dvorak highlights Mary Shapiro's positions on the boards of directors for Duke Energy and Kraft Foods while serving in regulatory roles. The hosts argue that these ties constitute a clear conflict of interest for the head of the SEC. Dvorak also addresses listener emails regarding his political neutrality, stating that both major parties serve the same interests.
