RSS Feed
Twitter
Facebook
Email
HomeLibor Scandal: “Companies Do NOT Commit Fraud, People Do”
Posted by Larry Doyle on February 7th, 2013 6:19 AM |
I will tell you what it means. It means that free market capitalism is losing, and cronyism in the financial system is simply becoming more deeply embedded. Do you disagree? (more…)
Uncle Sam Charges S&P with FRAUD!!!
Posted by Larry Doyle on February 6th, 2013 9:28 AM |
“Fraud,” cried the maddened thousands, and the echo answered “Fraud.”
Fans of our national pastime are likely well acquainted with the classic poem, Casey At The Bat. In that well worn tale, the patrons of the game go home with heads bowed as their power hitter, that being the mighty Casey, fails to drive home the winning runs in the bottom of the ninth.
In similar fashion but in real life, the fans of the red, white, and blue team with USA adorned across their breast are also disappointed to date as justice officials have yet to swing at pitches seemingly thrown right over the plate. To what do I refer? Financial frauds emanating on Wall Street. Although our very real game is seemingly in the late innings, mighty Sam is in the process of swinging his bat as he charges the rating agency Standard & Poors with fraud. About time right? (more…)
Sucker Born Every Minute: Top Ten Investor ‘Threats’
Posted by Larry Doyle on February 5th, 2013 8:41 AM |
“A con artist will use every trick in the book to take advantage of unsuspecting investors, including exploiting well-intended laws, in order to fatten their wallets.”
– NASAA Past-President Jack E. Herstein
“There’s a sucker born every minute.”
Although widely attributed to the 19th century showman P.T. Barnum, the above oft-referenced quote was actually delivered by Barnum’s main competitor, George Hull of Binghamton, New York. While Hull played his elaborate scam of discovering a giant back in 1869, there are no less sophisticated cons at work this very minute.
The North American Securities Administrators Association cautions investors about the following top investor threats from 2012. In true David Letterman fashion, let’s count down the Top Ten: (more…)
How Much Are You Really Paying for That Fund?
Posted by Larry Doyle on February 4th, 2013 8:21 AM |
When is the price on a product not the “real” price you pay?
Can you imagine entering a store, comparison shop, select your product, and then find out at the register that the price highlighted on the product is not the real price you pay. How would you feel? Probably find another store, right?
What if this pricing racket was going on within almost every store carrying these products? Think about calling The Better Business Bureau, perhaps? Well, what do you think happens when you buy a widely marketed product on Wall Street? What product? Mutual funds.
Do you really know just how much you are paying for your mutual funds? Really? (more…)
January Unemployment Report: The Lord and Noah
Posted by Larry Doyle on February 1st, 2013 10:18 AM |
The unemployment report for January 2013 was released this morning and provides better than expected news on the surface but with some reasons for concern as well. Let’s navigate.
The Wall Street Journal review highlights the following:
Jobs growth for January fell short of expectations but continued at a moderate pace. However, The unemployment rate reversed course a bit, rising to 7.9 percent in January from 7.8 percent the month before. Analysts expected a 7.7 percent unemployment rate. (more…)
“How Washington Hurts Small Community Banks”
Posted by Larry Doyle on January 31st, 2013 9:52 AM |
The other day I addressed the current David vs Goliath situation in the banking industry and presented The Case for Community Banks. There is no doubt that the crisis that emanated on Wall Street required some real regulatory attention. Regrettably the “one size fits all” regulatory changes embedded in Dodd-Frank is not the answer. Not that people in Washington with little background in markets and the economy might understand that.
Let’s listen to former Inspector General for the TARP, Neil Barofsky, who provides a brief 2-minute dose of ‘sense on cents’ on how Washington has hurt the small community banks in our country. Props to American Banker for this clip.
Larry Doyle
Isn’t it time or overtime to subscribe to all my work via e-mail, an RSS feed, on Twitter or Facebook.
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.
US Economy Contracts in 4Q/2012, Let’s Review
Posted by Larry Doyle on January 30th, 2013 9:44 AM |
The positive tone to the equity markets and other risk-based assets may provide a degree of cover to developments within the real economy but it cannot totally negate the fact that our nation’s economy continues to move along with all the speed of a pack mule.
In fact, Uncle Sam just reported that the old warhorse, that is our domestic economy, contracted in the 4th quarter of 2012 by 0.1%. Let’s navigate and take a harder look at what might be weighing us down. (more…)
How Much Did Crisis Cost Economy? Begins with a T
Posted by Larry Doyle on January 29th, 2013 2:05 PM |
Have you ever wondered what a best guesstimate might be as to how much the 2008 crisis cost our economy? Well, not that many outlets around here may care to highlight this information, so let’s navigate to a Russian site, Rianovosti, at which we can read and learn,
The absence of criminal accountability for a crisis that cost the U.S. economy trillions of dollars in GDP and wiped out billions more in personal wealth amplifies the risk of a similar financial meltdown in the future, according to securities experts and former regulators.
Trillions?? That is a large number even by today’s standards where many in Washington throw the “t-word” around like it is no big deal. Can we get more specific? (more…)
David vs Goliath: The Case for Community Banks
Posted by Larry Doyle on January 29th, 2013 9:19 AM |
While the mega-banks on Wall Street flex their oligopolistic muscles (price controls, imperfect information, not sharing data), I want to take this opportunity to throw some support to the Davids of the banking world.
Who are these Davids? The community banks. Do you feel like you get a lot of personal touch and proper attention from Goliath? Really? How about from David?
Let’s navigate and review a compellingly detailed analysis recently released by the Dallas Fed. (more…)
Mark Cuban: Will Your College Go Out of Biz?
Posted by Larry Doyle on January 28th, 2013 12:10 PM |
Last spring as part of a continuing effort to address the Student Loan Crisis here at my blog, I wrote Why So Many Colleges May Fail. That particular commentary went viral in the blogosphere.
Clearly the topic of higher education in general and the funding of higher education specifically is forefront in the minds of many American families. There are many thousands of good reasons for families to be concerned. (more…)
