Posted by Larry Doyle on August 29th, 2013 8:17 AM |
Might Hank Paulson have selective amnesia or whatever happened to real journalism?
My former question actually could be posed to most pols, bankers, and regulators over the last number of years. The latter would apply even longer than that.
Well I guess posing tough questions and demanding answers in this day and age would likely leave journalists writing little more than monologues. What a pity.
I see another example of this shallow journalism on display in written reviews and interviews with former Treasury Secretary Hank Paulson. What brings Paulson back on stage? (more…)
Posted by Larry Doyle on August 28th, 2013 10:16 AM |
The Federal Reserve has to be one of the single most opaque institutions not only in our nation but in the world. I often think of the Fed as having a door in which those inside can see out, but those outside can never see in.
In light of this premise, I am exceptionally surprised to read of a recent survey of Federal Reserve employees that is highlighted by The Huffington Post.
Regulators overseeing the nation’s largest financial institutions are distrustful of their bosses, afraid to speak out, and feeling isolated, according to a confidential survey this year of Federal Reserve employees. (more…)
Posted by Larry Doyle on August 27th, 2013 11:53 AM |
Has there ever really been a doubt that Larry Summers would be the next chairman of the Federal Reserve?
Not in these parts.
Remember, President Obama — just like his predecessors — will announce who the chairman of the Federal Reserve will be, but that does not mean that he actually makes the selection.
Who do I believe really makes the selection or has veto power over the president’s choice?
Posted by Larry Doyle on August 26th, 2013 9:27 AM |
The economy might never look better for those involved in crony, rent-seeking pursuits.
For the rest of us, continued belt tightening is the order of the day.
With wages remaining stagnant, we now get to swallow a heaping of further economic gruel as large-ticket durable goods orders are reported to have taken what might only be compared to a swan dive off a tall cliff.
How long a dive and what is the degree of difficulty connected with this report? “Only” a 7.3 percent decline . . . OUCH. Brace yourself for a large splash and likely bodily injury upon entry.
Posted by Larry Doyle on August 25th, 2013 7:09 AM |
For those who might still be wondering why America is rotting from within, please find 45 minutes to watch Bill Moyers recent interview with Mark Leibovich, author of This Town, a best selling expose of how crony capitalism has become pervasive in our nation’s capital.
After watching this clip, I think there is little doubt that people will understand how public service has become a major for profit undertaking; I think people may also feel the need to take a shower. This is truly a must view as Leibovich names names and does not pull any punches in doing so.
Washington is clearly filled with a pack of losers. But unfortunately the real losers are the American public.
I thank the regular reader who brought this clip to my attention.
Please pre-order a copy of my book, In Bed with Wall Street: The Conspiracy Crippling Our Global Economy, that will be published by Palgrave Macmillan on January 7, 2014.
For those reading this via a syndicated outlet or receiving it via e-mail or another delivery, please visit the blog to view this clip and comment on this piece of ‘sense on cents’.
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.
Posted by Larry Doyle on August 24th, 2013 10:37 AM |
I firmly believe that economic freedom is only achieved by navigating one path, that being, education defined in the broadest of terms (vocational, secondary, higher or even home schooled).
To that end, I applaud President Obama and Secretary of Education Arne Duncan for their efforts to improve secondary education in our country via the Race to The Top.
President Obama is now laying out a new initiative to make college more affordable for those pursuing higher education. On the surface, who would be averse to making college education more affordable? But let’s dig a little deeper. In doing so, I think we might gain a greater understanding as to whether Uncle Sam is more part of the problem than part of the solution to higher education being so exorbitantly expensive.
Posted by Larry Doyle on August 23rd, 2013 7:00 AM |
How deep in the tank have our regulators gone over the years to protect Wall Street rather than upholding their mandate to provide real investor protection?
How might we measure the depth?
Posted by Larry Doyle on August 21st, 2013 7:22 AM |
So who should be the next chairman of the Federal Reserve?
While we are fed a regular diet of drivel from those who might believe they know what is in the best interest of our nation, these political insiders might want to look a little further for truly informed opinion. To whom should they listen?
Posted by Larry Doyle on August 20th, 2013 10:10 AM |
Three full years after the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, less than 40 percent of the watered-down rules within the reform have actually been written.
And those that have fall mostly under the heading of low-hanging fruit.
President Obama played the populist card again yesterday, calling on Congress and the independent regulators to complete their work on this reform.
Does President Obama think the American public actually believes Wall Street has been or will be reformed via Dodd-Frank? Really? Is he serious?