SEC Changes Tone on Muni Issuers and Fair Dealing Enforcement

June 5th, 2014 by Joseph S. Fichera 
NEW SEC MUNI ENFORCEMENT CHIEF SIGNALS BIG CHANGE IN ENFORCEMENT ACTIONS TO PROTECT MUNICIPAL ISSUERS  New “Core Focus” is Issuer as Potential “Victim” not Just “Perpetrator” On June 4, 2014 Bloomberg News published an interview with the Securities & Exchange Commission (SEC) Municipal Securities Enforcement Division chief, Lee Ann Gaunt.  She was “on the record” on several issues...

The “You Can Keep Your Health Plan” Pledge

November 3rd, 2013 by Joseph S. Fichera 
The President was wrong when he said you could keep your health care plan under the Affordable Care Act. He should have said you can keep your health care plan IF it meets the new minimum requirements that Congress believes are in the best interests of all Americans. It’s ok to establish new minimum standards but nothing is free. And that’s what has been glossed over/distorted or whatever...

Chief Justice John Roberts Bipartisan Challenge

July 4th, 2012 by Joseph S. Fichera 
The Democratic party is missing a tremendous chance to change the tone in Washington by not praising Justice Roberts’ bold bipartisan move to support the President’s health care legislation. The Chief Justice put aside the “no prisoners” approach of the Republican party from which he was nominated and grew up in. Judges are to be non-partisan but we also acknowledge the reality...

“But everybody is doing it.” Denver Board of Education and Synthetic Fixed Rate Swaps

August 6th, 2010 by Joseph S. Fichera 
As I noted in Friday’s (8/6/10) front page NY Times article attached, the Denver Board of Education was another issuer of a complex derivative deal who took on risks and wasn’t prepared for a downturn. Can risks be better known and managed? One help would be if the advisors weren’t also on the other side of the transaction. But equally important to remember is that, in the long...

Bloomberg Washington Summit: Reform corporate governance and the way governments access the capital markets

November 10th, 2009 by Joseph S. Fichera 
On Thursday November 12, Bloomberg LP is hosting a “Washington Summit.” I have been asked to speak on the neglected crisis in corporate governance and public sector finance.