Archive for the ‘General’ Category
Posted by Larry Doyle on February 22nd, 2012 6:28 AM |
This commentary provides a wealth of details and data along with some fabulous links. I firmly believe it covers the most important issues which will determine the future health and prosperity of our nation. It is a little lengthy, and for some perhaps overly sensitive—dare I say politically incorrect—but I hope you will take the time to read, review, and comment upon it. Thanks. LD
While there are plenty of pols in Washington and elsewhere who would like to paint a picture of a land divided along class lines, let’s not get distracted by those merely making noise to score political points.
Let’s dig a little deeper and determine who is not keeping up along our economic landscape . . . and why? (more…)
Tags: America's Promise Alliance Cities in Crisis, As Job market Mends Dropouts Fall Behind, class warfare in America, Editorial Projects in Education Research Center, Education, Education Gap Not Income Gap is America's Number 1 Problem, education impact on jobs and income, graduation rates in urban settings, graduatoin rates amongst minorities in America, high school dropouts, income disparity in America, income level vs education, income levels amongst classes in America, level of education impact on income and jobs, McKinsey Global Institute study on education, National Fatherhood Initiative, single parent birth statistics, single parent families and child abuse, single parent families and drug and alcohol abuse, single parent families and incarceration, single parent families and obesity, single parent families and poverty, single parent families and teen pregnancy, unemployment amongst high school dropouts, unemployment and education, unemployment and family structure, unemployment and single parent birth rates, who is Susan Lund of McKinsey and Company
Posted in Barack Obama, Education, Employment, General | 9 Comments »
Posted by Larry Doyle on February 21st, 2012 10:30 AM |
War. Street hockey. Hide the belt. Kick the can. Flipping cards.
The games of my youth growing up in my neighborhood section of Boston provide very fond memories. The best part of these games was the simple fact that everybody was included, the rules were clear cut, and the older kids looked out for the little guys.
In a manner of speaking, the central bankers of today are similarly engaged in a few different games. What are the games being played on both sides of the Atlantic? Kick the can and charades. Regrettably, the central bankers are not playing by the rules as we defined them.
(more…)
Tags: Bank Stress Tests Too Cloudy for Treasurers, central bank policy, central bankers games 2012, Fed Writes Sweeping Rules from Behind Closed Doors, Federal Reserve lack of transparency, financial settlement in Greece, fraud at CitiMortgage, games of youth in Boston in 1960s, Greece Faces Hurdles After Deal, Greece settlement, health of our banking system, kick the can and charades, lack of transparency at the Fed, rules of free market capitalism, settlement in Greece
Posted in European Central Bank, European Union, Federal Reserve, General, Greece | 7 Comments »
Posted by Larry Doyle on February 20th, 2012 8:50 AM |
Why do you think former Fed chair and widely respected central banker Paul Volcker paid a visit the other day to SEC head Mary Schapiro?
I would gather that Mr. Volcker was not there merely to exchange pleasantries. No, clearly Mr. Volcker was exhorting Ms. Schapiro to withstand the pressure currently being applied by many members of the Wall Street-Washington Incest society to water down the Volcker Rule which would curtail proprietary trading on Wall Street. (more…)
Tags: Amar Bhide, assessing and managing financial risks, case for Volcker Rule, finance theories, go back to case by case view of finance, modern finance theory, modern theories of finance, omniscient beings, Paul Volcker visit to Mary Schapiro, probability distributions, prop trading, risk models, SIVs, structured investment vehicles, the case for the Volcker Rule, theories of finance, volcker rule, who is Amar Bhide, will the future be like the past, will Volcker Rule be implemented
Posted in General, proprietary trading, Volcker | 3 Comments »
Posted by Larry Doyle on February 17th, 2012 11:35 AM |
The story of rampant abuse within CitiMortgage is garnering enormous attention throughout the blogosphere today.
Do you find it ironic that an institution such as Citi, which was saved by Uncle Sam in 2008, would be abusing the old man a full three years later? No surprise here.
In a financial system in which regulators are ill equipped and overwhelmed by industry practices, rampant abuse and fraud seems to have become endemic. I tip my hat to Sherry Hunt, a whistleblower within CitiMortgage, for exposing the fraud within the mortgage underwriting business at Citi for which taxpayers foot the bill. Ms. Hunt gains immediate induction into the Sense on Cents Hall of Fame in the process. (more…)
Tags: abusive foreclosure practices, Bank of America mortgage fine, Citibank mortgage abuses and fraud, Citigroup mortgage abuse, CitiMortgage, CitiMortgage abuses, fraud within CitiMortgage, How Citibank Dumped Fraudulent Lousy Mortgages on the Government, Larry Doyle, lax financial regulation, ProPublica, Sense on Cents Hall of Fame, Sherry Hunt, Wall Street-Washington incest, whistleblower Sherry Hunt
Posted in Foreign Policy, fraud, General, Mortgage Crisis, Mortgages | 15 Comments »
Posted by Larry Doyle on February 16th, 2012 9:54 AM |
Gaining sensitive, market moving information is NOT by its very nature illegal or unethical. In point of fact, those who are ingenious and industrious enough to outwork and outsmart the competition are fully deserving of the benefits and rewards that come their way.
That ingenuity and industriousness are cornerstones of capitalism. I love it and commend those who ethically pursue these paths to success.
That said, how are these pursuits regulated? Who is monitoring the exchange of what might be exceptionally sensitive and insider information? Great questions. (more…)
Tags: attorney-client privilege, capitalism, Chuck Grassley Outlines case for Political Intelligence Amendment, cloud cover in Washington, cornerstones of capitalism, dealing with confidential information, ethical pursuits of business, future of financial regulation, gaining inside information, hedge funds political intelligence, ingenuity and industriousness, level playing field on Wall Street, lobbyists dealing with political intelligence, political intelligence, sensitive inside information, STOCK Act, The Osint Group, trading based upon political intelligence, truth transparency and integrity, Wall Street-Washington incest
Posted in General, insider activity, insider trading | 12 Comments »
Posted by Larry Doyle on February 15th, 2012 10:17 AM |
Markets manipulated by the presence of massive infusions of liquidity from central bankers may give the appearance of calm, smooth sailing but under the surface an explosion of epic proportions continues to build.
What is fueling that volcanic eruption?
Chronic deficit spending.
With our fiscal deficit having grown by trillions of dollars over the last few years, make no mistake the withdrawal pains and devastation from this out of control spending WILL be extraordinary. Not might be. WILL be. Borrowing from future generations may be a political art form in Washington but it is truly nothing more than a failure of governance. (more…)
Tags: A Choice of Two Futures, adult discussion about deficit, budget deficit, central bankers, chronic deficit spending, chronic deficits, Congressional Budget Office, crisis from deficit spending, deficit spending, entitlement programs in America, government intervention in economy, government intervention in our markets, government takeover of economy, government takeover of markets, healthcare plans in America, liquidity injected by central bankers, living beyond one's means, living beyond our means, meaningful deficit reduction, Paul Ryan, Paul Ryan tax policy, Paul Ryan's Roadmap for America, President Obama's budget proposal 2012, retirement security, standard of living in America, The Roadmap Plan, Thomas Jefferson on economy
Posted in Deficit, General | 12 Comments »
Posted by Larry Doyle on February 14th, 2012 6:07 AM |
“Larry, they have forgotten about me. I do not know what to do and I have nowhere to turn.”
In so many words, I received that message from an Oppenheimer Holdings customer just yesterday who continues to be unable to access his cash which remains locked up in auction-rate securities a full four years to the day that the ARS market totally froze.
This is America?
We have an administration and regulators which fabricate settlements and try to support people many of whom were financially imprudent? But who is standing up and speaking out on behalf of those remaining ARS investors who were defrauded by financial intermediaries and cannot access their funds from what were supposedly cash surrogate investments?
Four full years later and tens of thousands of our fellow citizens remain largely disenfranchised and disowned and unable to access tens of billions of dollars that is THEIR MONEY?
This is America? (more…)
Tags: Albert Bud Loewenthal, ARPS, ARS 2-14-12, ARS documentary, auction rate market 2-14-12, auction rate preferreds, Auction Rate Securities, FINRA-ARS, Larry Doyle, nowhere to turn for ARS help, Oppenheimer Holdings, the sinking of the Titanic, what to do about ars
Posted in ARPS, ARS, Auction Rate Securities scandal, General | 3 Comments »
Posted by Larry Doyle on February 12th, 2012 5:34 PM |
In a nation now all too familiar with a “too big to fail” banking system, a heavily manipulated and high frequency dominated equity market, and an incestuous financial regulatory system, we should not be surprised with a mortgage settlement that does little more than ‘piss into the wind’.
Pardon my cynicism, but one does not need to look too deeply into the recently announced mortgage settlement to understand there is little in the way of meaningful justice embedded in this contrivance. (more…)
Tags: Ally Financial, American Banker, Bank of America, Citigroup, details of mortgage settlement, high frequency trading, JP Morgan Chase, justice within mortgage settlement, Missing Settlement Documents Raise Doubts About $25B Deal, mortgage abuse, Mortgage Crisis, mortgage fraud, mortgage servicers, mortgage settlement, Mortgages, piss into the wind, pissing into the wind, regulatory capture, RICO Act, robo-signing, the regulators work for us, too big to fail banking system, Wall Street conspiracy, Wall Street-Washington incest, Wells Fargo
Posted in General, Mortgage Cram-Down, Mortgage Crisis, Mortgages | 3 Comments »
Posted by Larry Doyle on February 10th, 2012 3:41 PM |
I wrote earlier today about the need for those in college to “not let their classwork get in the way of their education.”
That said, in order to get to college or ahead in the world in the first place, each and every child in our nation needs a quality secondary education.
They are not getting it.
Obviously, family structure and other factors play a significant role in our children’s well being and development; however, when we have urban graduation rates of approximately 50%, education in many cities is largely in name only. From where do you think large percentages of our prison populations come? (more…)
Tags: achievement gap in New Jersey, Barbara Keshishian, charter schools, Chris Christie, classic strawman, economically disadvantaged students, Education, failing schools in New Jersey, life isn't fair Vince Giordano, New Jersey city schools, new jersey teachers unions, NJS, Opportunity Scholarship Act, palace on State Street, Pine Point School in Camden, prison populations in America, rear end on the sidewalk in two minutes, school choice, secondary education in America, standing up for poor kids in New Jersey, student vouchers, Vince Giordano, Vince Giordano 500k salary, Vince Giordano salary, Vince Giordano should resign, who is standing up for poor kids
Posted in Education, General | 3 Comments »
Posted by Larry Doyle on February 10th, 2012 11:09 AM |
I strongly believe the key to successfully navigating our economic landscape is education.
Given that I am passionate about mentoring, I try to impress upon all those whom I mentor the need to constantly expand their base of knowledge. I encourage them to read and learn from a wide array of resources including this blog and and also to utilize my Sense on Cents Career Planning link.
I also strongly encourage those whom I mentor that they “don’t let their classwork get in the way of their education.” How so? Developing street smarts, personal relationships, and business instincts are critical to long term success. How do we make this happen? Networking! (more…)
Tags: Casey Gough, Casey Gough Morgan Stanley, College of the Holy Cross, do's and don't s of networking, don't let your classowrk get in the way of your education, getting ahead, Holy Cross, Holy Cross Football, Holy Cross Football coach Tom Gilmore, how to get ahead, how to mentor, how to network, keys to getting ahead, Larry Doyle, navigating the economy, need for education in America, need for mentors, need to network, networking, path to success, power of mentoring, power of networking, return on human capital, Sense on Cents, street smarts, Tom Gilmore
Posted in General, mentoring | 4 Comments »
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