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Archive for October, 2012

To Jon Corzine: This MF Global Client Wants Justice

Posted by Larry Doyle on October 29th, 2012 11:07 AM |

On the heels of my MF Global commentary a few days ago in which I ran the exchange I had with a farmer in central Michigan, I received a number of messages of gratitude for continuing to shine a light on this travesty.

The pain felt by the farmer is also experienced by a whole host of other MF Global clients. I received another communication just this morning from an MF Global customer who screams for justice and challenges the premise of the most recent MF Global coverage in the WSJ. With his permission, I welcome echoing his scream and running his letter sent to editors of The Wall Street Journal(more…)

Waiting for a Bitch Named Sandy

Posted by Larry Doyle on October 29th, 2012 8:02 AM |

As I sit here this morning waiting for an unwelcome visit from a bitch named Sandy, winds are picking up outside but overall there is an eerie sense of silence.

The storm is expected to make landfall later tonight in southern New Jersey but she has a wingspan that runs from the lower Mid-Atlantic all the way throughout New England. As such, this bitch is being compared to The Great Hurricane of 1938. (more…)

America’s Trillion Dollar Student Loan Train Wreck (with Video)

Posted by Larry Doyle on October 27th, 2012 6:44 AM |

Can you imagine the media coverage of a train wreck in which the passengers largely consisted of hundreds of thousands of American college, university, and graduate students? Every news outlet in this nation would set up shop by the roadside to cover that massive human interest story.

Well, that train wreck is playing out in slo-motion each and every day in our country. Is that right? Yep, and it has garnered little of the requisite attention it deserves. Let’s navigate and take a personal look inside the trillion dollar student loan disaster. Interesting that it takes coverage from Euronews to shine a light on this pileup. (more…)

Libor Scandal Update: The Real Cost

Posted by Larry Doyle on October 26th, 2012 10:27 AM |

How quickly the scandals seem to come and go.

With barely enough time to fully digest and appropriately process each and every financial racket, Wall Street, Washington, and our financial media move right along as if very little had happened in the first place. Do you disagree? The American taxpayer, consumers, and investors everywhere are getting taken to the cleaners. You don’t think so?

What have we seen in terms of meaningful justice and proper remuneration in the institutional scandals encompassing the following:  (more…)

Calling All Farmers: MF Global Customer Cry for Help or Why Will Obama Lose MI, OH, IA, and WI?

Posted by Larry Doyle on October 25th, 2012 10:16 AM |

I personally believe the exchange I had with a farmer located in central Michigan is so important that I hope people who come to the site will not pass over this but might actually try to put yourself in this individual’s position. TYVM…..LD 

I grew up parochially having been taught that “thou shalt not steal” meant you leave your hands off what is not yours.

The quote referenced above came to me from a farmer in central Michigan who remains entangled in the MF Global debacle.

Why is it that so many people in our nation and around the world have such little trust in our government and those charged with protecting their interests in the markets? (more…)

Uncle Sam Is OUT of CONTROL!!

Posted by Larry Doyle on October 25th, 2012 6:50 AM |

Think Uncle Sam is out of control? Do you trust the “old man” to take in and then put out your tax dollars wisely? I know, ask a stupid question.

Is our government here to support the taxpayers of our nation or has Uncle Sam become little more than the AMORPHOUS BLOB aka JABBA THE HUT? Look at that Debt Clock to the left and compare that to the caloric intake for Uncle “Jabba”. Are we getting our money’s worth? Little wonder why the old man is so fat and slow. While I take a liberty in comparing Uncle Sam to Jabba, take the mere 3-minutes to absorb, no pun intended, just how large Uncle Sam has grown over the last few years. (barf bag recommended) (more…)

Jon Corzine: Ego Only Outweighed by Stupidity?

Posted by Larry Doyle on October 24th, 2012 9:28 AM |

“Jon Corzine is the smartest guy that I know. . . “ VP-elect Joe Biden

Jon Corzine’s lawyer yesterday made the case that his once high-flying financial and political heavyweight client could not have participated in a fraud at MF Global because as reported by The Wall Street Journal,

“. . . just two months before the company collapsed, he bought over 50,000 shares of MF Global stock on the open market.”

Need we remind Mr. Corzine’s attorneys that just because an individual might be stupid and not fully understand the operational risks within a firm and the liquidity risks within a marketplace DOES NOT preclude said individual of engaging in fraudulent and criminal activity.  (more…)

Just How Great is America? (Video)

Posted by Larry Doyle on October 24th, 2012 6:22 AM |

Declaring America as the greatest country in the world may be a standard statement on the political stump but the simple fact is that declaration is highly questionable.

Some may denigrate those who would question our greatness. I thank them assuming that their hearts and spirits aspire to make the necessary sacrifice to elevate America once again to the lofty status of true greatness.

To be recognized as the greatest, I believe we need to accept the reality of our current status. I have previously questioned our greatness. I have gone so far as to call out the lies and the liars. Real greatness has a foundation upon the truth. (more…)

The Final 2012 Presidential Debate: Open Forum

Posted by Larry Doyle on October 23rd, 2012 9:19 AM |

With the final official debate of the 2012 Presidential campaign now in the rear view mirror, the candidates will now engage in an all out sprint to the finish line on November 6th.

I personally believe that the length and costs of these campaigns are  hugely unproductive for our country. Why is it that Washington is so dysfunctional? Politicians from the White House to Capitol Hill seem stuck in perpetual campaign mode. Well, that is a topic for a different day.

How do readers feel about last night’s debate? Who won? Who lost? What did you learn?  (more…)

Goldman Sachs: “We Don’t Trust You at All”

Posted by Larry Doyle on October 22nd, 2012 6:41 AM |

Although I am still not inclined to buy, rather than merely borrowing it from the library, Greg Smith’s book Why I Left Goldman Sachs, I did find his interview on CBS’ 60 Minutes last evening to be interesting. What interested me?

Smith did not provide any great revelations in this interview, but I found it interesting based simply on the fact that he is one of very few people who have exited the Wall Street arena and left the light on in the process. For that reason alone, I think it is worthwhile to watch this clip.

Do clients trust Goldman Sachs? Certainly not all of them. Why not?  (more…)

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