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HomeMF Global: Independent Investigator Required…Video
Posted by Larry Doyle on May 9th, 2012 9:37 AM |
I have written extensively of the need for an MF Global grand jury and an independent investigation. Why?
I feel strongly that MF Global customers specifically and the American public at large believe a fair and thorough adjudication of the ENTIRE MF Global bankruptcy is far from assured under the aegis of our Department of Justice.
Strong charge, no doubt, but who would deny that simple reality.
Having made these calls and posted numerous commentaries to this effect, let’s go to the videotape and take in a fabulous 5-minute clip on this hot button issue which ran late last evening. (more…)
California Pen$ion Nightmare Wor$en$
Posted by Larry Doyle on May 9th, 2012 7:04 AM |
What is the best part of a nightmare?
When you wake up and it is over.
The folks in California do not have that luxury as they get to live the nightmare that defines their public pension system everyday. In fact, the nightmare is getting scarier. How so?
The “not so exclusive” California $100,000 Club continues to experience explosive growth. Let’s check in on this club which since last we checked a year ago has seen close to a 25% increase in size. (more…)
SEC Outside Investigator Should Also Look Into. . . Recommended
Posted by Larry Doyle on May 8th, 2012 9:59 AM |
Perhaps it is only fitting that my 2000th post since launching Sense on Cents in January 2009 is directed at issues within our nation’s top financial cops at the SEC.
How interesting that a report is released today indicating that the SEC is bringing in an outside investigator to probe allegations of inappropriate activities within the Office of Inspector General during the tenure of the recently departed IG David Kotz. (more…)
Greek Option: NOT Growth vs Austerity
Posted by Larry Doyle on May 8th, 2012 8:07 AM |
Growth vs austerity.
Who would not choose to increase economic growth as the path to future economic prosperity.
The election results in France and Greece over the weekend were a clear repudiation of the austerity packages negotiated earlier this year as the precursor for further German support and the European Central Bank’s LTRO (long term repo operation). That financing directed at European banks was little more than another version of the shell game that has been orchestrated by Bernanke and Geithner on this side of the pond. (more…)
R. Wenzel Further Exposes the Federal Reserve
Posted by Larry Doyle on May 7th, 2012 4:49 AM |
“I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs.” — Thomas Jefferson, U.S. President.
A week or so ago thanks to a regular reader, I highlighted an amazing speech given inside the New York Federal Reserve by Robert Wenzel, editor and publisher of the Economic Policy Journal. Wenzel took the Fed to the cleaners in his remarks which I welcomed highlighting in writing R. Wenzel: Federal Reserve An Unmitigated Failure.
Wenzel is certainly one of very few who have ventured into the inner sanctum of the Fed, laid it to waste, and then been able to talk about it. What more might this financial Indiana Jones have to say about the all powerful Federal Reserve? (more…)
MF Global: Independent Investigator Required…NOW
Posted by Larry Doyle on May 6th, 2012 7:50 AM |
We’ve been robbed.
It is one thing to be robbed. It is a far different thing to have Uncle Sam NOT turn over every stone or reveal what they may have found in the process of investigating the robbery.
Strong charge, no doubt. Given the responses and messages I have received from people impacted by the MF Global debacle, those feelings of a lack of total support from Uncle Sam are all too real. With more than 6 months having passed from the “time of the robbery,” and with seemingly little reason to believe the case will soon be settled and customers made whole, what do we need? Where is Inspector Clouseau when we need him? That is, an independent investigator. (more…)
Rick Santelli : Honest Unemployment Review, May 4
Posted by Larry Doyle on May 4th, 2012 11:02 AM |
Thanks to regular reader Fred for prompting me to check out CNBC’s Rick Santelli for his honest unemployment review a short bit ago. I love somebody who cuts right to the chase. Santelli does just that.
Take the mere two minutes to view this clip so you have a real understanding as to the state of our labor market today. (more…)
May 4, 2012: Unemployment Report Review
Posted by Larry Doyle on May 4th, 2012 9:20 AM |
When it comes to discussing the unemployment rate in our nation today, I am often reminded of a discussion we would facetiously have on the trading desk at First Boston back in the mid-1980s.
That discussion would revolve around our desk manager inquiring as to our weekly P and L (profit and loss). I can recall these humorous exchanges as if they were yesterday:
Manager: “So, LD, what’s your P and L this week? ”
LD: “Well, what do you need?” (more…)
Attention: All Investment Advisers and Investors…
Posted by Larry Doyle on May 3rd, 2012 7:29 AM |
The financial regulatory landscape is poised to change and, as far as I am concerned, not necessarily for the better.
Will you be merely a spectator or do you care to participate in the legislative process that WILL impact most of you? Are you an investment adviser? Are you an investor with funds managed by an investment adviser?
If you fall into either of those camps, I exhort you to get involved. I encourage you to become part of the process and the solution and not merely a bystander. How so? Let’s navigate. (more…)
Sen. Tom Coburn (R-OK): “We Have No Leadership”
Posted by Larry Doyle on May 2nd, 2012 6:28 AM |
I truly appreciate those in our nation who can properly frame the debate which MUST be had if we are to protect our country and the future for our children. I heard just such a man last evening. I compel you to listen to him.
Who is this man?
Senator Tom Coburn, Republican of Oklahoma. He laid out not only our greatest problem but also indicted the corrosive culture in Washington that has allowed this problem to grow. Coburn provides the barometer by which all of our supposed politicos should be measured.
What did Coburn have to say? A lot. Try these on for size… (more…)
