Phil Cannella – Phillip Cannella Media: Phil Cannella’s insight and boldness gives Phil Cannella the ability to extract the freshest and most revealing information from the guests on Phil Cannella’s Crash Proof Retirement Show®. Nothing could be closer to the truth in this clip taken from his hard-hitting two-hour interview with H. David Kotz, the then Inspector General of the Securities and Exchange Commission (SEC), as they converse about the ineffectiveness of their regulation efforts.
In Phil Cannella’s research, he discovered that over the last 77 years since the SEC has been in place, financial industries have crashed over 18 times, and he poses the following question to Kotz; Do you feel the Securities and Exchange Commission can be more effective in the future?
Kotz’ answer first indicates that some of the issues have been beyond the SEC’s control, but he goes on to admit that not enough action was taken on several red flags and troubling issues within the SEC that they were in fact aware of.
Phil Cannella was able to pull out of Kotz that the SEC needs to look more carefully at entities like investment banks and undertake aggressive oversight so that they can help with some of these meltdowns.
