- Steven Wallman
Steven Wallman was
Commissioner of theU.S. Securities and Exchange Commission (SEC) from1994 to1997 , for which he was appointed byBill Clinton . He foundedFOLIOfn , headquartered in the Tysons Corner,Virginia suburbs ofWashington DC in1998 .In his time with the SEC, he fought for the "decimalization" (i.e. $10.25) of stock prices on the
New York Stock Exchange ,NASDAQ , and AMEX. Previously, stocks traded in fractions (i.e. $10¼). After much testing and various pilot programs, the first day of decimalized stock prices took place onMarch 26 ,2001 .Wallman is the founder of several companies, including
FOLIOfn andProxy Governance, Inc. In late September 2008, Wallman published a [http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/09/30/EDGD139BA0.DTL commentary] in the
San Francisco Chronicle to help solve the credit crisis without a bailout by using taxpayer-provided funds to make money available to homeowners who live in their homes (and not speculators) to stabilize housing.Wallman’s plan is to provide financial institutions a government guarantee in lieu of any penalties or foreclosure to homeowners that have a mortgage in distress the current or missed payments under the mortgage. When a borrower agrees to have the government take over the mortgage payments, the mortgage company notify the government, then the government to make the payments, and the borrower would sign a note agreeing to repay the government with interest at the same rate currently required under the borrower's mortgage.
Also in late September 2008,
FOLIOfn released a [http://www.emediawire.com/releases/2008/9/prweb1409574.htm media advisory] that Wallman is available to comment on the proposedProposed bailout of United States financial system .
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