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Sharyl Attkisson: Death of Investigative Journalism

Posted by Larry Doyle on April 16th, 2014 10:31 AM |

What does it say about a nation when a highly respected investigative journalist speaks out that she is compelled to leave her place of employment because her voice and her stories are not being given air time?

I do not know about you but that tells me the money and power behind the forces at work to keep the truth from the public are only getting that much stronger. Make no mistake, that money and that power are working for interests on both ends of the political spectrum and their friends doing their bidding on both sides of the aisle.

Given her willingness to depart CBS News and speak out on this corrosive reality within our media today, I welcome immediately inducting Sharyl Attkisson into the Sense on Cents Hall of Fame. What she has to say regarding media bias may not be surprising but it should trouble to no end all who care about a free and democratic society.  (more…)

Book Review: Is Wall Street Rigged? “Michael Lewis Is Just Scratching The Surface”

Posted by Larry Doyle on April 14th, 2014 6:40 PM |

ValueWalkI appreciate anybody who takes the time and makes the effort to read and review my book, In Bed with Wall Street.

That said, I deeply appreciate those who in reading my book really seem to “get it” and are then willing to lay it on the line in “delivering it” in their review. On that note, Mark Melin of ValueWalk goes to the front of  the class.

Melin dives deeply into the material. I give him credit for reaching out to Wall Street’s self-regulator FINRA to get their take on some of my hard hitting charges detailed in the book. In regard to my long held assertion that FINRA engaged in insider trading in its liquidation of ~$650 million of auction-rate securities, a FINRA spokesperson commented to Melin:  (more…)

Book Review: All The Presidents’ Bankers by Nomi Prins

Posted by Larry Doyle on April 14th, 2014 11:06 AM |

While all too much of our analysis of market developments comes to us in the form of sound bites and snippets, leave it to the great writers of our time to provide real depth and study of the business and political relationships that ultimately impact all of us.

I recently completed reading just such a study, All The Presidents’ Bankers by Nomi Prins. The author is not only a Wall Street insider but also highly regarded for her prior books and well documented written and spoken commentaries.

I very much had the sensation of sitting in on a semester long tutorial in Financial and Political History while working my way through this book. While at times the level of detail provided required me to take a break to ponder the magnitude of the message, the picture never lost focus. (more…)

UPDATED w/Podcast: Listen to LD and Gary Aguirre Saturday Night on KFMB 760AM San Diego, CA

Posted by Larry Doyle on April 11th, 2014 2:11 PM |

gary-aguirreLast evening I was truly honored to share the forum of “It’s Your Money and Your Life” with renowned securities lawyer and SEC whistleblower Gary Aguirre.

What has and still is going on within the realm of our financial regulators while corrosive practices such as high frequency trading and much more perpetuate on Wall Street? I strongly recommend you grab a second cup of coffee and find 40 minutes to listen to this interview:

It’s Your Money and Your Life

Navigate accordingly.

Larry Doyle

Please order a hard copy or Kindle version of my book, In Bed with Wall Street: The Conspiracy Crippling Our Global Economy.

For those reading this via a syndicated outlet or by e-mail or another delivery, please visit the blog to comment on this piece of ‘sense on cents.’

Please subscribe to all my work via e-mail.

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.

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On Saturday, April 12th (10pm EST, 7pmPST),  I will be on “It’s Your Money and Your Life,” an exceptionally popular radio show airing on KFMB-760AM in San Diego, California. I am incredibly pleased to highlight this interview.

Why will this show be so special? Joining me as a guest on the show is a true American hero, former SEC whistleblower Gary Aguirre. In my opinion, Gary Aguirre is a lawyer without peer and may be the only individual in the nation today who could be favorably compared to Ferdinand Pecora. I say that with no sense of hyperbole.

Please make sure to listen in to this show. I am confident you will not be disappointed. Listen LIVE at 7pm PST (10pm EST) on KFMB 760 AM or online here.

LD

James Kidney Stones the SEC: “A Tollbooth on The Bankster Turnpike”

Posted by Larry Doyle on April 9th, 2014 9:07 AM |

James Kidney recently retired from the SEC.  He skewered the commission’s culture and management on the way out the door.

For those who care to understand how Wall Street has gotten away with incredibly egregious offenses over the years, Kidney’s brief remarks are well worth the few minutes to review. The highlights include:

1. The revolving door is a very serious problem. I have had bosses, and bosses of my bosses, whose names we all know, who made little secret that they were here to punch their ticket. They mouthed serious regard for the mission of the Commission, but their actions were tentative and fearful in many instances. (more…)

Retiring SEC Lawyer Indicts Schapiro, Khuzami et al as Being ‘In Bed with Wall Street’

Posted by Larry Doyle on April 8th, 2014 1:51 PM |

In what might only qualify as turning one’s weapon on those formerly running a defense unit, a retiring attorney in the SEC’s Enforcement Division just left the commission and went out with “guns a-blazing.”

I welcome immediately inducting this attorney, James Kidney, into the Sense on Cents Hall of Fame. Let’s navigate as Bloomberg reports:

A trial attorney from the Securities and Exchange Commission said his bosses were too “tentative and fearful” to bring many Wall Street leaders to heel after the 2008 credit crisis, echoing the regulator’s outside critics.  (more…)

HFT Exposed: Market Is Not Fair; Little Guy Loses

Posted by Larry Doyle on April 8th, 2014 8:53 AM |

Of all the questions on all the topics across all the market segments, the one that keeps being repeated by most investors — both institutional and retail alike — is the question regarding the fairness of the game.

That question and others were posed yesterday to James McCaughan who, as President of Principal Global Investors, just so happens to oversee the management of $300 billion and was interviewed by Tom Keene and Michael McKee on Bloomberg Surveillance.

Regarding market fairness in the midst of current high frequency trading practices, McCaughan does not equivocate in stating, “the market is not fair.” (more…)

The Stock Exchange Brothel and Regulatory Pimps

Posted by Larry Doyle on April 7th, 2014 11:37 AM |

I am compelled to share a fabulous post from Wall Street on Parade that outlines the corruptible relationship and practices that lie at the core of the ongoing debate around high frequency trading.

Major props to Pam Martens for drawing further attention to the ugly reality within this incestuous relationship. Other media outlets should be so fearless in revealing the truth of the captured regulators.

The fallout from the new book, “Flash Boys” by Michael Lewis continues. Yesterday, Jonathon Trugman wrote in the New York Post that “These traders who use the HOV lane to get ahead of investors could not do their trades without the full knowledge and complicity of the New York Stock Exchange and Nasdaq.” (more…)

Upcoming In Bed with Wall Street Book Events in April

Posted by Larry Doyle on April 5th, 2014 6:17 AM |

This month is shaping up to be a busy one for In Bed with Wall Street. I am thrilled that I have been invited to speak at what I would call the triple crown of library institutions: Library of Congress, New York Public Library, and Boston Public Library.

First up is Boston Public Library later this month (followed by Library of Congress in early June and New York Public Library in late July). In addition to these three grand libraries, please make note of the following events. If any happen to be in your neighborhood, please stop by to say hello!

Tuesday, April 8th at 7pm: Wellesley Books, 82 Central Street, Wellesley, Massachusetts

Thursday, April 10th at 7pm: Book Revue, 313 New York Avenue, Huntington, New York

Saturday, April 12th at 10pm EST (7pm PST): It’s Your Money and Your Life, 760AM KFMB, San Diego, California. I will be a guest along with the renowned attorney Gary Aguirre (profiled in the book) on this 50,000 watt station. Listen live here.

Sunday, April 13th at 2pm: Occupy Alternative Banking  at Columbia University, room 409 of the International Affairs Building, 420 West 118th Street (Amsterdam Avenue & 118th Street)

Tuesday, April 22nd at 7pm: New Canaan Public Library, 151 Main Street, New Canaan, Connecticut

Wednesday, April 23rd at 6pm: Boston Public Library, Central Library in Copley Square, 700 Boylston Street, Boston, MA

Sunday, April 27th at 2pm: Glastonbury Library, 2407 Main Street, Glastonbury, Connecticut

Looking ahead . . .
Thursday, June 5th from 11:30am-12:30pm: Library of Congress, Washington D.C.
Thursday, July 31st from 6-7pm: New York Public Library, Fifth Avenue at 42nd Street, New York, NY

If you have a venue, outlet, or media connection (radio, TV, print, or podcast) at which you might have interest in my speaking, please do not hesitate to contact me at senseoncents@aol.com.

In light of all that continues to go from Wall Street to Main Street and from Washington to points around the globe, I welcome talking not only about the effects — such as high frequency trading — but even more so the causes and proposed reforms which are outlined in detail in my book.

I thank you.

Larry Doyle

Please order a hard copy or Kindle version of my book, In Bed with Wall Street: The Conspiracy Crippling Our Global Economy.

For those reading this via a syndicated outlet or by e-mail or another delivery, please visit the blog to comment on this piece of ‘sense on cents.’

Please subscribe to all my work via e-mail.

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.

WSJ: HFT’s Real Villains Are Financial Regulators

Posted by Larry Doyle on April 3rd, 2014 10:38 AM |

In what might read as a prologue for my book, none other than the Wall Street Journal writes today that the real villains in the ongoing high frequency trading debate are our financial regulators.

Truer words were never spoken.

While America is fed a steady diet of technical terms on latency, co-location, and the like, let’s redirect the focus to where it really belongs, that is a financial regulatory system that has served to promote and protect Wall Street rather than upholding its mandate to protect investors.  The evidence is overwhelming and there is very real corruption that has transpired in the process.

As the WSJ concludes:

. . .  if New York Attorney General Eric Schneiderman and others looking for headlines want to string up high-speed traders, honesty requires them to put the regulators at the front of the rope line.

Now that’s what I’m talking about.

Let’s start with an independent investigation with the power to subpoena. Then get Chris Cox and Mary Schapiro in here.

Larry Doyle

Please order a hard copy or Kindle version of my book, In Bed with Wall Street: The Conspiracy Crippling Our Global Economy.

For those reading this via a syndicated outlet or receiving it via e-mail or another delivery, please visit the blog to comment on this piece of ‘sense on cents.’

Please subscribe to all my work via e-mail.

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.






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