LILA RAJIVA: The Mind-Body Politic
Individuals Not Ideologies
-
DTCC Board Stuffed With Kleptocrat Banks/Funds
The DTCC (Depository Trust and Clearing Corporation) is the largest depository in the world, and, along with its subsidiaries, the place where all transactions in equities, money market funds, corporate and muni bonds, MBSs and derivatives are cleared and settled. Activists have been demanding detailed release of trades which haven’t been settled or have failed to deliver (FTD), because of the obvious potential for manipulation, A glance at the board of directors, which consists of leading figures from the banks and funds, many of whom profited hugely from the government bail-out, shows that concern is amply warranted.
From Citizen Economists:
DTCC BOARD OF DIRECTORS
The DTCC’s board includes 20 directors.
Art Certosimo, Senior Executive VP, Bank of New York Mellon
Norman Malo, President and CEO, National Financial Services LLC; Fidelity Investments
Stephen P Casper, Partner, Vastardis Capital
Gerald A. Beeson, Senior Managing Director, COO. Citadel Investment Group
Donald F. Donahue, Chairman and CEO, DTCC
William B. Airnetti, President and COO, DTCC
J. Charles Cardona, CEO Bank of New York Mellon - Cash Investment Strategies, President of the Dreyfus Corporation
Randolph L. Cowen, Co-Chief Administrative Officer, Goldman Sachs Group Inc
Norman Eaker, CAO, Edward Jones
Timothy J. Theriault, President - Corporate & Institutional Services, Northern Trust Company
Neeraj Sahai, Managing Director and Global Business Head, Securities and Fund Services, Citi
Gerard La Rocca, Chief Administrative Officer, Americas Barclays Capital
David A. Weisbrod, Managing Director and Risk Executive, JP Morgan Chase Bank
Stephen Luparellyo, Vice Chairman and Senior Executive Vice President of Regulatory Operations, FINRA
Mark Alexander, Managing Director, Global Wealth and Investment Management - Bank of America, Merrill Lynch, Head of Technology Operations, Broadcort Clearing
Ronald Purpora, ICAP Securities USA LLP
Robert Kaplan, Executive Vice President, State Street Bank and Trust Company
Michele Trogni, Managing Direcotr and Global Head of Operations, UBS Investment Bank
Ian Lowitt, Administrative Officer, Lehman Brother
Recent Comments
Leave A Comment
Yet another naked shorting disinformation campaign laid bare | Deep Capture: exposing the crime of naked short selling said...
1[...] Postscript: If you’re at all unclear on why you should be bothered that DTCC seems to have hired former journalist Gary Weiss to cover-up the crime of illegal of naked short selling, I strongly suggest you check out Lila Rajiva’s recent post on the composition of that company’s board of directors. [...]
12/31/09 4:17 AM | Comment Link
honky said...
2i’m wondering if td bank has a cash crunch problem. look at the balance sheet and consider their mortgage portfolio and free cash flow prospects. this might not be confined to just a few institutions and suggests serious immediate operating difficulties.
01/6/10 4:00 AM | Comment Link
DTCC Board Stuffed With Kleptocrat Banks/Funds said...
3[...] Read more… Related Posts:Banks With Political Ties Got Bailouts, Study ShowsPotential For the Fed to HyperinflateFederal Reserve Policy Audit Legislation ‘Gutted,’ Paul Says£4,350 Per Family to Bail Out Britain’s BanksCopenhagen’s Hidden Agenda: The Multibillion Trade in Carbon Derivatives Book Mark it-> del.icio.us | Reddit | Slashdot | Digg | [...]
01/6/10 9:55 PM | Comment Link