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Happy St. Paddy’s Day!!

Posted by Larry Doyle on March 17, 2013 9:56 AM |

It is a great day for the Irish.

Saint Patrick spread the faith throughout Ireland. Today I hope that you may be a channel of the peace that runs through your faith — whatever it may be — and that you might spread your faith and peace to others as well.

In that spirit, I welcome sharing a brief yet classic Irish ballad.

Enjoy. . . and navigate accordingly.

Larry Doyle

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I have no 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.

  • Matt Cornell

    Hi Larry –

    What is your opinion of the Cyprus bailout announced yesterday? Why were depositors forced to take a haircut instead of/before bondholders? Do you think there is any possibility a similar depositor tax could ever happen here in the U.S.? And I thought low interest rates were punishing to savers. This is a far worse punishment that I never even imagined before.

    Matt

    • LD

      Matt,

      Great to hear from you and hope you are doing well.

      What do we know about the depositors? They are the local citizens and a haircut can be jammed down their throats because they have little political leverage.

      The bondholders are likely other financial institutions including central banks with real political leverage and if they were forced to take a haircut there might be a concern of a domino effect.

      In regard to a depositor tax in the US?

      Anything is possible when the situation reaches Defcon 3, so to speak. We have heard rumblings of raiding retirement accounts so a depositor tax is a similar sort of raid on private holdings.

      We are a long way from being out of the woods.






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