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Home1 in 5 Trust Our Banks
Posted by Larry Doyle on January 28th, 2013 8:56 AM |
What is the basis of any relationship?
Trust.
How much do you want to engage somebody if you have little to no trust in that individual or institution? Obviously not much. A healthy society is one in which trust is pervasive. The premise and foundation of trust within our relationships allows for the free flow of information, capital, and goods. Everybody benefits.
Regrettably, our nation has an enormous trust deficit currently. Why so? Once violated, trust does not easily or quickly return or regenerate. Although many within positions of leadership in our nation would like to present the rebound in our markets and supposedly within our economy as indicative of a return to a healthy nation, they are FOOLS if they truly believe that. Why so? (more…)
Weekend Read: “All My Babies’ Mamas . . .”
Posted by Larry Doyle on January 26th, 2013 11:35 AM |
Having addressed the extensive and increasing social costs associated with the explosion of single parent births in America, I welcome sharing a hard hitting commentary written by Lloyd Marcus. Who is Lloyd Marcus?
His childhood began in a Baltimore ghetto. He grew to manhood in the 1960s. He is an artist, singer, production designer and musical producer . . . His parents moved with their five children into a brand-new, high-rise apartment building in the Baltimore projects. Then came their neighbors. Many were drug addicts, alcoholics and criminals. They destroyed the apartment building. “Within one year, it was ruined,” Marcus said. “It taught me a lot about liberalism.
What has Mr. Marcus got to say today? (more…)
Taibbi: More Dirt on Mack, Samberg, & White
Posted by Larry Doyle on January 25th, 2013 1:07 PM |
While most pundits in New York, Washington, and across America are singing the praises of prospective SEC chair Mary Jo White, more dirt on her intervention on behalf of Morgan Stanley and John Mack is filtering into the marketplace.
Who writes on this topic today? Rolling Stone’s Matt Taibbi undresses Mack and his sidekick Art Samberg in truly unceremonious fashion in writing, (more…)
Barclays Libor Scandal: What is Bob Diamond Hiding?
Posted by Larry Doyle on January 25th, 2013 7:25 AM |
To think that scandalous activity of the size and scope involved in the rigging of Libor would be confined to a mere handful of traders and brokers is so ridiculous as to be laughable.
Yet, to this point, every institution connected to this racket would try to have us believe just that. Well, we can disavow that attempt to minimize the fallout of this manipulation at one bank. Which one is that? (more…)
Mary Jo White: Next SEC Chief’s ‘Skeleton in Closet’
Posted by Larry Doyle on January 24th, 2013 11:09 AM |
News breaks this morning that President Obama will nominate Mary Jo White to be the next head of the SEC.
Who is Ms. White? A highly decorated attorney at the prestigious law firm of Debevoise & Plimpton. I would expect she might win a very easy approval to be our nation’s next top financial cop. Why so?
The spin on the nomination is that she is a former prosecutor and US Attorney for the Southern District of New York and will hold Wall Street accountable. Is that right?
Before we coronate her, I think we may want her to address what I would deem to be a ‘skeleton in her closet.’ Really? Oh yeah!
Xu Xiaonian Speaks ‘Sense on Cents’
Posted by Larry Doyle on January 24th, 2013 9:04 AM |
Who would have thought that we would or should need to navigate to The People’s Republic of China to gain a basic understanding of how to grow our economy but let’s do just that and meet Xu Xiaonian of the China Europe International Business School.
What is the CEIBS vision?
To become the most respected international business school by linking East and West in teaching, research, and business practice and by promoting China’s social and economic development through high-impact knowledge creation and dissemination.
What pearls of economic wisdom, or dare I say ‘sense on cents’ does Professor Xiaonian have to share? (more…)
Barclays Wealth: Little More Than a Boiler Room?
Posted by Larry Doyle on January 23rd, 2013 9:11 AM |
The cover up is often worse than the crime.
How often have we seen that reality play out? All too often. Might we see it play out once again at Barclays Wealth Management, a division of Barclays Global?
Well, depending on how aggressive financial regulators — I know, that is an oxymoron — might be, the operation at Barclays Wealth may prove to be particularly volatile and potentially explosive. How so? If there is a shred of truth in a story emanating in the UK, then Barclays Wealth might only be compared to some of the best boiler room operations on Wall Street. (more…)
PBS’ Frontline: Fraud Was . . . The F-Bomb”
Posted by Larry Doyle on January 22nd, 2013 7:29 PM |
I will be watching Frontline this evening on PBS as a documentary on fraud within the mortgage industry airs. This show, The Untouchables, will interview a number of mortgage due diligence underwriters.
What did they have to say? This 5-minute Frontline preview says a lot, including ….
“Fraud in the due diligence world, fraud was the F-word or the F-bomb,” said Tom Leonard. “You didn’t use that word,” (more…)
Ignoring Our Deficit Is Irresponsible
Posted by Larry Doyle on January 22nd, 2013 11:28 AM |
Do you remember where you were and what you were doing in 2005? Although much has transpired over the last 8 years, in many regards 2005 seems like just last week. As I think most would attest, if we think the last 8 years went by quickly, the next 8 will go by even quicker. Why is that such a concern?
For the very simple reason that if we do not prepare NOW, the future for our nation and ALL citizens of the United States will be decidedly more challenging. Why so? As the Financial Times addresses today,
It is the 2020s when the big spending will start. The baby boomers, into their 70s, will start getting sick; the Social Security retirement age will stabilise at 67 in 2022; and the CBO is unwilling to assume that certain controls on medical costs will stick for more than a decade. The revenue and spending paths will become irreconcilable. Debt will pile up – and quickly. (more…)
Martin Luther King: “I Have a Dream”
Posted by Larry Doyle on January 21st, 2013 10:00 AM |
In the summer of 1963, Martin Luther King delivered his “I Have a Dream” speech at the Lincoln Memorial in Washington D.C.. On this the day that our nation honors Dr. King, I welcome sharing his words once again so that we may try to reflect on where our nation stood at that point in time and simultaneously critique ourselves as to where we stand today.
“I Have A Dream”
I am happy to join with you today in what will go down in history as the greatest demonstration for freedom in the history of our nation. (more…)
