“My Take” on the SEC posted on BusinessWeek.com

A few weeks ago I sent a comment to BusinessWeek’s senior editor and blog contributor Diane Brady agreeing with an item she posted that questioned the usefulness of the SEC’s charges against former A.I.G. CEO Hank Greenberg. I was asked to elaborate on my position by BusinessWeek.com for their outside contributor column, “My Take,” which was posted last week.

I focused my essay on drawing attention to what I believe are the more crucial issues for the SEC’s including the collapse of Bear Stearns, the continuing inadequacy of equity research, investment banking fees and credit default swaps. Moreover, the SEC should work to alter Wall Street’s compensation structure in order to be aligned with the goals of its customers. To read my essay, please click here.

As it turns, my commentary struck a cord (or a nerve) with a great many BusinessWeek.com readers and it became one of highest trafficked and commented articles on their website. BusinessWeek.com editor-in-chief John Byrne was kind enough to memorialize the accomplishment with a blog post of his own.

Clearly I am not alone in my position that our financial regulators need to do a better job of looking after individual investors and instituting substantive change on Wall Street.