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Joe Grano Takes On Wall Street and Washington

Posted by Larry Doyle on June 10, 2011 9:36 AM |

There are few people in our nation today who are willing to stand up and call out both Wall Street and Washington. There are even fewer who have worked within these bastions of power and will subsequently make the hard calls while providing real ‘sense on cents’ in the process.

Yesterday I observed just such an individual. Who was it?

Joe Grano.

I had heard of Joe but never had the good fortune of listening to him speak. I will now look for him often. During an interview yesterday on Bloomberg, Joe was respectful but not bashful in taking on both Wall Street and Washington. How so?

Joe offered that this industry, meaning Wall Street, lacks leadership. Wall Street has hurt itself. On balance, Wall Street is overpaid. The capital markets are in trouble.

Additionally, one does not need to listen too hard to appreciate that Washington was a welcome participant in promoting the incestuous nature of the relationship between these power bases. Washington really does not get it in terms of creating jobs.

I found myself continually thinking, “this guy gets it!!”

Although this clip runs a little longer than ten minutes, I strongly encourage you to view it and share it with others. Given Joe’s willingness to speak the truth while promoting transparency and integrity, I welcome immediately inducting Joe Grano into the Sense on Cents Hall of Fame.

Plus, he strikes me as a good guy and somebody with whom I’d probably like sharing a beer and duking it out over the Red Sox and Yankees. I believe Joe is from ‘da Bronx’, so I’m guessing he is likely a Yanks fan. I commend him for his service to our nation and his extensive philanthropic activities, including his support of the Yankee Foundation.

Swept you last night, Joe!!

Enjoy!!

Larry Doyle

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I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.

  • KD

    LD – Do you have a link to the Grano Clip?

  • The Coach

    Joe Grano…and Joe Moglia

    Two boys from the Bronx who made good and kept their perspective.

    What do they say about street smarts?

  • James

    “Joe offered that this industry, meaning Wall Street, lacks leadership. Wall Street has hurt itself. On balance, Wall Street is overpaid. The capital markets are in trouble.”

    Joe does not look like the Wall Street cheerleader-type and with statements like these, he confirms it. Nice to hear a senior guy from the industry tell the truth.

  • Jimmy

    WOW…. He does get it. He needs to be in Government. Thanks for article.

  • John

    Joe is from Hartford, Connecticut and graduated from Central Connecticut State University.

  • LD

    John,

    Thanks for that color. If Joe is from Hartford, but now is a major benefactor of the Yankee Foundation, how did he ever escape the magnetic attraction of Red Sox Nation?

    Oh well, we can’t win ’em all. I thank you.

    In all seriousness, Joe Grano has clearly distinguished himself as one of the ‘good guys’ and to be admired by all.






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