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HomeIs This What President Obama’s ‘Change’ Looks Like?
Posted by Larry Doyle on January 12th, 2012 9:50 AM |
While driving my truck this morning and listening to Bloomberg Radio, I almost gagged on my coffee and pictured my vehicle lurching into a ditch.
What caused my knee jerk reaction? Let me set the table as to what I heard, what prompted my thinking “You have got to be kidding me”, and why I feel compelled to write this commentary today.
I believe it is a foregone conclusion that the Republican Party will critique the Obama administration for failing to bring meaningful “change” in how Washington operates. I am not so sure the Republicans should be so quick to play that card.
In a similar fashion, we already see political interests from both ends of the spectrum attacking Mitt Romney—whom I believe is the presumptive Republican nominee—and the tenets of free market capitalism embedded within private equity and venture capital. (more…)
Can Whistleblowers ‘Cross-Examine’ the SEC? Part II
Posted by Larry Doyle on January 10th, 2012 6:37 PM |
My commentary the other day entitled Can Whistleblowers ‘Cross-Examine’ the SEC? received a fair bit of attention and some rather interesting comments. In light of the very fluid developments within the realm of financial regulation, I strongly recommend that post.
The primary concern I raised within that commentary – and hence the title – was that a key panel at the upcoming 39th Annual Securities Regulation Institute consists solely of industry insiders. Why might that be such a concern?
Well, one of the main critiques of our financial regulatory system made by many, including Harry Markopolos, has been the revolving door between our regulators and the industry.
Why is a revolving door such a concern? Stick with me here. (more…)
Duncan Niederauer and “5 Guys Named Vinny”
Posted by Larry Doyle on January 9th, 2012 10:09 PM |
I had to chuckle yesterday morning when reading a comment that came in regarding my recent commentary on high frequency trading.
Eddie wrote,
Hi,
Plain and simple for years I was taught it was not only unethical but illegal to intentionally manipulate stock prices. The only intention of HFT is to do just this.Joe and Sal are correct when they say the people that are supposed to regulate this behavior are now in their pocket. For years the NYSE protected the Specialists and the public was assured that orders were being handled properly and the SEC audited the exchange and all of these firms quarterly. (more…)
Can Whistleblowers ‘Cross-Examine’ the SEC?
Posted by Larry Doyle on January 9th, 2012 7:09 AM |
Later this month, Northwestern Law will be hosting its 39th Annual Securities Regulation Institute in Coronado, California. In light of everything that has occurred on Wall Street and in Washington, one might think this could be a lively conference as it looks to provide:
A timely analysis of recent laws and developments in the corporate and securities law fields presented by senior SEC officials and leading practitioners.
While reviewing the conference invitation, I am particularly intrigued by one workshop to be held on Friday morning, January 20th. What is this workshop? Who is involved? Why am I so intrigued? Please stick with me here as we preemptively try to connect some dots.
Attention All Traders and Investors: How Are You Getting Pimped? Here’s How….
Posted by Larry Doyle on January 6th, 2012 10:17 AM |
This commentary is a little lengthy, but for those involved in the markets as a trader or an investor I believe it is a great read. Please share it. LD
The other day I received a very interesting comment and question from a regular reader and active trader. This reader’s prompt compelled me to reach out to our Sense on Cents Hall of Fame legends Joe Saluzzi and Sal Arnuk at Themis Trading for a response.
If you are an active trader or an investor, I STRONGLY recommend you read this commentary. If you merely care about our markets and economy, I also STRONGLY recommend you read it.
Is this how capitalism works now? Is this the best America has to offer in terms of free market capitalism? Excuse me while I vomit. (more…)
Fed’s White Paper on Housing: Uncle Sam a Landlord? Obama’s Plans for Re-Election?
Posted by Larry Doyle on January 5th, 2012 9:58 PM |
Housing and labor remain the cornerstones of our economy. In fact, the health of our labor market follows that of housing just like night follows day.
The near term prospects for both housing and labor remain decidedly challenging. The success of assorted federal programs to support housing so far have obviously been underwhelming.
That said, there are rumblings emanating from Washington that the Obama administration may end run Congress while unilaterally launching a massive program to support housing via Freddie/Fannie orchestrated refinancings.
Will this program be the ‘rabbit’ which Obama and team pull to prop the economy and their re-election chances in 2012? (more…)
The EU’s Weakest Link Moves Closer to Breaking
Posted by Larry Doyle on January 4th, 2012 8:16 PM |
When I write of “the EU’s weakest link”, to which country do you think I refer?
Must be Greece, right? Maybe not.
Italy? Nope, not them either.
Portugal? Ireland? Spain? No, no, no!!
I first wrote of The Weakest Link in early 2009. I highlighted the fact that this “weakest link” moved to nationalize its pension system in late 2010 in this commentary.
Enough of the suspense. Which nation do I believe is the EU’s weakest link? (more…)
Did Mary Schapiro Engage in a Fraud?
Posted by Larry Doyle on January 3rd, 2012 10:22 AM |
Will we learn in 2012 if Mary Schapiro, current chair of the SEC, and other then senior executives at the Wall Street self-regulatory organization, FINRA, engaged in a fraud?
The case addressing this question, Standard Chartered v FINRA, has been appealed to the highest court in our land.
As such, one might think that most Americans would care to learn if our nation’s top financial regulator did, in fact, engage in a fraud which had a monetary value of between $175-$350 MILLION plus. That’s right, $175-350 million plus!! Not exactly chicken feed.
Why hasn’t this case received more attention? (more…)
The European ‘Slow-Motion Train Wreck’
Posted by Larry Doyle on January 2nd, 2012 9:28 AM |
The lessons which went unheeded from the economic calamities and accompanying market meltdowns of the 1980s and 1990s laid the foundation for the Ponzi-style financings underwritten within our sub-prime mortgage market and the European Union of this past decade.
How have political leaders at home and abroad addressed the enormity of our collective indebtedness? They merely continue to kick the can down the road so that our global economic landscape can only be compared to a ‘slow-motion train wreck’. (more…)
Sense on Cents 2011 Halls of Fame and Shame
Posted by Larry Doyle on January 1st, 2012 12:41 PM |
America wakes up this morning hopeful for a new year filled with peace and prosperity. Sense on Cents welcomes spreading our spirit of optimism.
Before we move forward, though, let’s take an accounting of 2011 and induct those most deserving into our Sense on Cents’ 2011 Halls of Fame and Shame.
Prior to our induction ceremony today, I am sure there are many in the crowd who may want to review our past award winners. On that note, I humbly submit:
Sense on Cents 2009 Halls of Fame and Shame
From the above Fame and Shame lists, I believe the top three in each Hall deserve special recognition. On that note, the medals go to the following: (more…)
