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Archive for December, 2012

Sense on Cents 2012 Halls of Fame and Shame

Posted by Larry Doyle on December 28th, 2012 12:06 PM |

As I reflect on the year 2012 I am compelled to bring honor and fame on many individuals who brought real distinction upon themselves while upholding and promoting our prized virtues of truth, transparency, and integrity. This year’s inductees into the Sense on Cents Hall of Fame is obviously incomplete.

I remain eternally hopeful and optimistic for our nation knowing that there are individuals such as these in our midst who are willing to stand up and speak out for virtues all too often overwhelmed by those more driven by self-interest and cronyism. For those whom I consider more an embodiment of these character traits, the doors to the Sense on Cents Hall of Shame are also opened today and we will find a special spot for them inside.

I do find it particularly interesting that much of the fame is relegated to individuals, while the shame is often directed at organizations and institutions. I link to prior year’s inductees at the end of this commentary. On that note and with no further adieu, let’s commence with the induction ceremonies:  (more…)

The True Spirit of Christmas

Posted by Larry Doyle on December 24th, 2012 10:39 AM |

I so love a Christmas story that was published in The Wall Street Journal in 2008 that I welcome posting it as an annual tradition here at Sense on Cents.

To those who celebrate the birth of Christ and the blessings He brought to the world may you enjoy this season  in all its glory. To those who celebrate Hanukkah, Kwanzaa, or another traditional form of worship may this season also bring you peace and happiness.

To all those who visit Sense on Cents, I thank you. I hope you feel your visits here are time well spent.  I am especially grateful to those who give the greatest gift of all, that is the giving of one’s self, in terms of your comments, insights, and perspectives. I wish everybody who reads this a blessed holy day, holiday, and joyous time spent with family and friends. On that note, I hope the following story makes as much of an impact on you as it has on me. Enjoy and share. (more…)

Our Government Is a Joke!!

Posted by Larry Doyle on December 22nd, 2012 9:32 AM |

America awakes this morning to the realization that our federal government is collectively unwilling and/or unable to tend to the people’s business.

Many in America might like to point fingers at one side of the aisle or the other. Many others would bemoan the general lack of real leadership in the most senior positions within the federal government. Folks, we can point fingers all we want and apportion blame however we might like . . . but pointing fingers gets us absolutely nowhere. (more…)

Barney Frank to Eric Holder: Time for Prosecutions . . . Really?

Posted by Larry Doyle on December 21st, 2012 9:24 AM |

The American public in totality is not stupid, although they are often treated that way by many in Washington.

Scandalous behavior within major Wall Street institutions has run rampant over the last decade — and likely a lot longer than that — and been addressed almost uniformly with token fines (relative to revenues generated) that are little more than a cost of doing business. Why does such scandalous behavior persist? (more…)

Libor Scandal: How Executives Must Have Known

Posted by Larry Doyle on December 20th, 2012 9:03 AM |

The intrigue surrounding the greatest financial fraud “of all time” could fill many a book and many a movie theatre. While the intrigue may make for riveting reading and viewing, the simple fact is this fraud comes with an exceptionally high cost for investors, consumers, and society as a whole.

How did the web of this manipulation grow so large? Where were the regulators and internal compliance people to snuff it out and bring some semblance of order to what can only be defined as “organized racketeering?”

While little focus has yet been shone on the regulators or those in compliance at the banks involved, we now begin to see some cracks in the Libor rigging foundation in terms of addressing the fact that senior executives were aware and involved in this manipulation. (more…)

Libor Scandal: Bloomberg Echoes Sense on Cents Call

Posted by Larry Doyle on December 19th, 2012 1:59 PM |

I have maintained literally from the outset that the manipulation and rigging of Libor and other benchmark interest rates could not have occurred without the knowledge and blessing of senior executives within the banks.

We read today that senior executives at UBS were very much aware of the collusive practices that went on for years. The question now begs what will happen from here. Will selected executives who may have left the firm voluntarily or otherwise be allowed protective cover? Remember, justice neglected is justice denied. (more…)

Libor Scandal Update: UBS GUILTY of FRAUD!!!

Posted by Larry Doyle on December 19th, 2012 6:54 AM |


Why would anybody want to do business with an institution that systematically participated in a widespread fraud over a period of years? I guess that very statement could likely be said of many global banks in regard to the scandal encompassing the manipulation of Libor.

Today, though, the scarlet letter is applied to the Union Bank of Switzerland as it pleads guilty to fraud in the manipulation of Libor and other benchmark interest rates. This bucket shop has agreed to pay a $1.5 billion fine. (more…)

Jeff Gundlach: Very Cautious 2013 Outlook

Posted by Larry Doyle on December 19th, 2012 6:05 AM |

Last week I shared with readers a written “playbook” provided by Jeff Gundlach and his team at Doubleline in my commentary, What Is Really Going On in the Economy/Markets?.

Today we get to invite Mr. Gundlach “into” our office so to speak and hear his piercing insights. If you have an even passing interest in the markets and economy, get yourself a second cup of coffee and some pain medication as you absorb this 20-minutes worth of wisdom that will surely help you navigate the economic and market landscape in 2013 if not beyond. What does Gundlach address?  (more…)

President Obama in Newtown: “We Must Change” . . . . . Sense on Cents: Here’s How

Posted by Larry Doyle on December 17th, 2012 9:05 AM |

“Here in Newtown, I come to offer the love and prayers of a nation…We cannot tolerate this anymore. These tragedies must end, and to end them, we must change”
~~President Obama

As I think about what to write this morning and how to write it, I keep thinking of the names and faces of the precious little children and courageous teachers and administrators who lost their lives at The Sandy Hook Elementary School last Friday morning. Prior to my writing any further, I would like to honor them and their families by posting their names here. (more…)

Pray for Newtown, Pray for Us

Posted by Larry Doyle on December 15th, 2012 7:35 AM |

Please pray for the families impacted by the horrific incident in Newtown, CT yesterday. Please also pray for our nation.

I cannot begin to imagine the excruciating pain that has befallen those directly affected by this tragedy. Certainly, the pain of these families and the community at large are felt by all of us. Our thoughts and prayers go out, but there must be more than just those thoughts and prayers. As a friend shared with me yesterday:

There is no greater energy in the universe than the purity of light within the innocent child. It is the responsibility of us all to nurture and protect them from harm. (more…)

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