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We’re All Screwed: How Toxic Regulation Will Crush the Free Market System
$28.95
Stephen A. Boyko, author
ISBN #: 978-1934354124
You’ve heard of “too big to fail.” Are you familiar with “too small to care”? That’s the mindset of millions of Americans who believe regulation of the capital markets doesn’t pertain to them. If that’s you, think again. As Stephen A. Boyko demonstrates in We’re All Screwed, Regular Joe and Jane pay far more than their share when markets are mismanaged. If you think the government is there to protect you, this book is for you. “Protection is a racket,” writes Boyko. Think about it: Do you trust the people who stuck taxpayers with the bill when Fannie Mae failed?
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PRODUCT DETAILS
Hardcover, 186 pages
Publisher: W&A Publishing; 1st edition (September 1, 2009)
Product Dimensions: 9.2 x 6 x 0.9 inches
Approx. Shipping Weight: 1 pound
ISBN-10: 1934354120
COVER COPY
You hear it all the time: “Think outside the box.”
But those who purport to protect us with rules and regulations don’t do their thinking inside comfy, three-dimensional boxes. They are stuck inside cramped, one-dimensional squares.
The world isn’t square. It isn’t even flat. It’s varied, fast-paced, and changing. You’re along for the ride whether you like it or not; the good old days got outsourced overseas.
Whether it’s the small-time thugs who make business owners pay for “protection” or bureaucrats who promise the masses rule-writing will cure all that ails, America can’t take it anymore.
In We’re All Screwed, financial regulation industry insider Stephen A. Boyko explains how creativity and three-dimensional thinking are the best tools for developing a governance plan. With input from top professionals and entrepreneurs in fields like finance, ecology, civil engineering, and health care, Boyko outlines a nonlinear, three-dimensional approach to governance that applies to almost any field—in any area of the world.
Boyko envisions a future where America can be a contender. He shatters the pretence of regulatory protection, explaining why linear approaches to governance never worked in any field—and never will. Boyko illustrates how entities meant to govern everything from stock market trading to education have created the false hierarchies, false protection, and false promises, saddling us with limiting, out of date, one-size-fits-all lists of incomprehensible, ineffective rules.
Enough is enough! There is a better way. Heeding Boyko’s advice is not the gamble; hugging outdated rules around you like the fuzzy happy gauze of pseudo security is the real risk.
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Current regulatory rules are ineffective, compliance costs are too high, and the con artists still run amok. Rules don’t make things better, they just cost more and make criminals more creative. Regulators get away with this nonsense because they believe most Americans won’t take notice—or care. Prove them wrong! As Boyko shows, there is little difference between small time thugs who make business owners pay for protection and bureaucrats who promise the masses that rule writing will cure all that ails. In the aftermath of crashes and crises, taxpayers pay for the government’s mortgage messes and ill-advised bailouts for companies “too big to fail.”
Is that right? No! Is that fair? Of course not! But that’s the reality—unless average Americans say enough is enough.
Whether you’re a working stiff concerned about your retirement savings, a small business owner trying to stay afloat, or a loyal employee facing inevitable layoffs, Boyko’s message is simple: A segmented approach to regulation supports and empowers business, free enterprise, and entrepreneurialism. He wants to make sure regular folks don’t get screwed in a regulatory game of smoke and mirrors; does the same hold true for Congress?
Click here to download podcast of Stephen Boyko discussing We're All Screwed on The Gabriel Wisdom Talk Show! (Interview begins at 34 min mark) [19.7 MB]
MARKETING & PUBLICITY
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| “In the aftermath of the great recession of 2008-2009, the call for revamped financial system regulations is deafening. In We’re All Screwed, the case is made for a rethink of basic regulatory principles. Comprehensive governance, Steve argues, requires an elemental rethink. Sort out financial products, a function of the degree of uncertainty that they carry. Regulatory aggressiveness should then follow, as the level of riskiness dictates. If you remain a fan of capitalism, find regulatory reform scary but recognize that things went way too crazy in the recent past, read this book. It offers up a plan that gives regulators a reasonable chance of dampening future excesses while at the same time keeping the baby as they drain the bathwater.” |
| –Robert Barbera, Ph.D., executive vice president and chief economist for ITG’s global economic and financial market forecasts and author of The Cost of Capitalism (McGraw-Hill) |
| “The U.S. capital market is at the most critical juncture in its history. The decisions made in the next few months and years will have serious consequences—not just for the “hoped for” economic recovery of the United States, but also for its ability to stay competitive globally further into the future. We’re All Screwed is an innovative, informative, and timely read.” |
| –From the Introduction by Donald H. Bosic, senior vice president (retired) NASDAQ |
| “With the experience of past policies failure, a new approach is needed. Stephen Boyko has addressed the problem and the causes in a direct manner. His book should receive the widest dissemination within federal, state, local, and tribal governments, as well as within the academic community. Commercial enterprises would be well advised to study this work to stay ahead of the learning curve.” |
| –James A. Olson, a senior researcher for a Washington, D.C. think tank |
| “Those of us with companies positioned to be taken public are looking at possible IPOs in London, not New York. Why? Boyko explains the cause is over-regulation that is strangling private enterprise. American entrepreneurs now labor under the strict supervision of an administrative state that looks more like the former Soviet Union than the land of the free and the brave.” |
| –Richard J. Bishirjian, Ph.D., president of Yorktown University (Denver, Colorado) |
| “We are all painfully aware that our system of regulation constantly fails to provide the desired outcomes intended by those regulations. Boyko clearly points out why and offers a new approach. Those seeking a more principled and analytic approach should give this book their full attention.” |
| –Richard Herring, former Chief Administrative and Financial Officer of InterAmerican Development Bank, Washington, DC. |
| “This excellent book addresses issues that need to be considered by government officials and lawmakers. Steve makes several key points: Regulations must transcend one size fits all; Bubbles always take place, but they increase in frequency if regulations don’t address the greed-related issues of all parties fairly (until then, we are “All Screwed”); and SOX is an example of rule writing, not governance!” |
| –Taffy Williams, Ph.D., CEO of Colonial Technology Development Company, former CEO of IMCOR Pharmaceuticals, and former president and founder of Inkine Pharmaceuticals |
| “The book reads extremely well. … I hope policymakers take it to heart.” |
| –M.C. |
| 10/08/2009 |
First Name: Brenda |
State: CT |
Rating: 5 |
Reading the Markets
Insights from Financial Literature
Brenda Jubin, Ph.D.
Originally posted Oct. 8, 2009 at
http://readingthemarkets.blogspot.com/
Boyko, We’re All Screwed!
Oct. 8, 2009
I admit it was with some trepidation that I opened Stephen A. Boyko’s book We’re All Screwed! How Toxic Regulation Will Crush the Free Market System (W&A Publishing, 2009). I was sure that I was going to be met with simplistic right-wing rant. Instead, I was treated to an intellectually imaginative argument on behalf of what the author conceives to be a practical method of financial governance. I am no expert on regulation. Moreover, I have to confess that I’m not even particularly interested in the subject, so I can’t pass judgment on his proposal. But, as a person who relishes challenges to commonly accepted modes of thinking, I gleaned a lot from this book.
Boyko’s major thesis is that “segmenting governance into separate areas that apply to predictable, probabilistic, and uncertain regimes provides enhanced information correlation from which to issue best-practice commands.” (p. 56) This sentence is a mouthful, but the main point is that a one-size-fits-all approach to governance is doomed to failure. Rather, he suggests a troika—the predictable (for instance, money market instruments, U.S. Treasury), probabilistic (S&P 100 being the best example), and uncertain (small-cap, negative cash flow)—each with its own mode of governance. This segmentation is not incompatible with having a single financial regulator.
Central to Boyko’s segmentation is the accepted distinction between risk and uncertainty. Risk is quantifiable and has foreseeable consequences, uncertainty is indeterminate and has unforeseeable consequences. But Boyko goes further and, within the context of his argument, defines change as the movement in either direction between risk and uncertainty. “When uncertainty becomes risk, that’s learning or innovation; you have greater control over your underlying economic environment. On the other hand, when risk becomes uncertainty, there is either confusion (too much information), or ambiguity (too little information). Should the uncertainty become unstable . . . you have chaos.” (p. 61)
This relationship of change between risk and uncertainty is complicated by the fact that change has changed. “In the Industrial Age, change was binary—yes or no. A linear queuing theory drove change, and this theory had a first-move advantage. In the Information Age . . . change is now governed by wave and complexity theories. And unlike the Industrial Age, where usage depreciates an asset’s value, in the Information Age usage appreciates the value of intellectual property.” (p. 62)
In advance of his thesis Boyko draws on familiar literature, but he offers a unique perspective akin to a Rubik’s cube. Unfortunately, without the aid of the “how to solve a Rubik’s cube in under a minute” videos, we have to come up with our own solution to the matrix of risk, uncertainty, and changing change. And perhaps we can even re-craft the problem to our own liking. Boyko set out to address the issue of financial governance. I think that in the process he’s given hints about ways to rethink trading, investing, and portfolio management. |
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Stephen A. Boyko has more than forty years of financial experience in a broad range of industries. He taught managerial finance at American University and formulated securities regulatory policy for the National Association of Securities Dealers. As an international consultant, he provided a practitioner's perspective for the privatization of the former Soviet Union in the areas of corporate governance and regulatory development of the Ukrainian Capital Market. He now serves as chairman and CEO of N2K Ecosystems Inc., an entrepreneurial business development company.
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We’re All Screwed: How Toxic Regulation Will Crush the Free Market System
$28.95
Stephen A. Boyko, author
ISBN #: 978-1934354124
|
MARKETING & PUBLICITY
|
|
|
The Stock Market Philosopher: Insights of a Soviet-Born, New York-Bred Hedge Fund Trader
|
|
|
The Secret Keys to Smart Investing: Simple Strategic Rules to Diversify and Maximize Your Investment
|
|
|
Smarter Investing in Any Economy: The Definitive Guide to Relative Strength Investing
|
|
|
|
We’re All Screwed: How Toxic Regulation Will Crush the Free Market System
$28.95
Stephen A. Boyko, author
ISBN #: 978-1934354124
|
MARKETING & PUBLICITY
- Reviews in national media outlets (secured by W&A Publishing)
- Author testimony before financial industry experts and members of the U.S. Congress
- Authors interviewed on national business-talk radio programs (arranged by W&A Publishing)
- Advertising campaign in international trade publication (arranged by W&A Publishing)
- Book signings on the East Coast of the United States (assisted by W&A Publishing)
- Author-written editorials and articles in nationally read publications (assisted by W&A Publishing)
- Direct mail to opt-in e-newsletter subscribers (coordinated by W&A Publishing)
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