How can we regulate the legal looting from the big sharks in Wall Street?
McClellan: As I point out in Full of Bull, several reforms are necessary to prevent future Wall Street abuses. More professional credentials should be required, such as the Chartered Financial Analyst (CFA) designation, or Masters of Business Administration (MBA) degrees, and more working experience should be required before responsibility is conferred. There must be more accountability by research analysts, management, and the Board of Directors at brokerage firms. Institutions such as hedge funds and mutual funds (the buy side) must play by the same rules as the brokerage firms. No more cozy meetings and exclusive access to corporate executives to glean privileged insight and information. Corporate executives must be regulated to avoid manipulation of Wall Street research analysts, playing favorites, and being selective with executive access, all of which create an unbalanced, favorable stock opinion bias on Wall Street. STEPHEN ALERT: «This bear market crash is far from over, no whe
