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In 30 Minutes, Join No Quarter Radio’s “Sense on Cents with Larry Doyle”

Posted by Larry Doyle on March 22nd, 2009 7:30 PM |

Join me from 8:00 to 9:00 p.m. ET on No Quarter Radio for Sense on Cents with Larry Doyle. These are truly historic times in the global economy. Let’s “navigate the economic landscape” without the pandering or nonsense found elsewhere! With the stock market near 12 year lows, what is driving the flows? What is truly going on in the economy? Where are markets headed? What is happening in Washington and how is that impacting Wall Street? So much to cover.

Tonight I will talk with Chuck Doyle of Business Capital in San Francisco. Chuck is one of the leading professionals in the field of debt restructuring and recapitalization, and he has been highlighted regularly in major media outlets including The Wall Street Journal and CNN. In the midst of our current economic turmoil, this conversation will be both timely and enlightening.

The developments in the markets, economy, global finance, Wall Street, and Washington are occurring at breakneck speed. I will try to slow things down a bit and provide a sense of perspective. What did we learn in the markets over the last week and month and what do they mean for the weeks and months ahead? What is happening overseas and how does that impact us here at home? What is happening in the municipal sector and how will that impact the markets and our personal finances?
Read the rest »


Financial Logic and Morality

Posted by Larry Doyle on March 22nd, 2009 12:26 PM |

I am a proud graduate of the College of the Holy Cross, a Jesuit institution in Worcester, MA. The strength of a Jesuit education lies in the principles of Logic and Morality. While I fully appreciated my classes in Economics, German, Philosophy, and others, my classes in Logic and Morality made the greatest impact on me. Those classes forced me to think, not make rash judgments, take positions, and defend them.  

Fast forward to 2009 and a banking industry facing hundreds of billions, if not trillions, of unrealized losses. How do we most effectively, efficiently, and expeditiously address the health of this banking system so that our economy and population can regain its footing and prosper?  Let me revert back to the late ’70s and early ’80s and the principles instilled in me by those Jesuits.

 My Logic class utilized “decision trees.” My Morality class was based on the principle of “the greatest good for the greatest number.”

What have we learned over the last 6 months, as well as the last 16 years, to help us chart our way forward? Read the rest »


Tune in to No Quarter Radio’s “Sense on Cents with Larry Doyle”

Posted by Larry Doyle on March 22nd, 2009 9:35 AM |

Please join us this evening from 8-9 p.m. ET for No Quarter Radio’s Sense on Cents with Larry Doyle. With the stock market near 12 year lows, what is driving soc-promo5the flows? What is truly going on in the economy? Where are markets headed? Given the Washington political circus, how will new legislation impact the future of Wall Street? So much to cover.

Additionally, I will talk with Chuck Doyle of Business Capital in San Francisco. Chuck is one of the leading professionals in the field of debt restructuring and recapitalization, and he has been highlighted regularly in major media outlets including The Wall Street Journal and CNN. In the midst of our current economic turmoil, this conversation will be both timely and enlightening.

These are truly historic times in the global economy. Let’s “navigate the economic landscape” without the pandering or nonsense found elsewhere! What is on your mind? What would you like to address? Please share your questions and thoughts by calling in to (347) 677-0792, and also join our live chat room, which I’ll start up about 10 minutes before the show begins!

As a reminder, all NO QUARTER RADIO programming is archived and can be played back at any time. Just go to the NO QUARTER RADIO site and look for previous episodes. In addition, each program is available as a podcast on iTunes.

Many thanks to Larry Johnson and the rest of the team at No Quarter USA blog for providing such a vibrant vehicle as NO QUARTER RADIO. I look forward to having you join me Sunday evening as we collectively navigate the economic landscape!!


A New TARP Plan

Posted by Larry Doyle on March 21st, 2009 9:13 PM |

confidence-cartoon1

Cartoon by Walt Handelsman, Newsday


Are We Turning Japanese?

Posted by Larry Doyle on March 21st, 2009 4:08 PM |

Many market participants and economists are very concerned that the United States has made many of the same economic blunders experienced by Japan during the 1990s. Japan experienced a period known as “The Lost Decade.”

Are decisions now being made in Washington a precursor to a similar scenario here in the United States? Many people think so. A friend shared a piece which highlights some of the major social and economic problems in Japan. Obviously the United States has a far different culture, society, and economic base than Japan, but will our fiscal deficits and our current policies lead us in the same direction as Japan? This piece, written by Tom Dyson, touches upon some of the social and economic dynamics at work in Japan. I think it will cause you to pause and reflect on our situation here in the United States. Are we making decisions and enacting policies which will cause a similar outcome? Read the rest »


These Companies Do Not Want Your Business

Posted by Larry Doyle on March 21st, 2009 2:11 PM |

Many credit card companies are now offering incentives for a wide range of their customers to “take their business elsewhere” and return their cards in the process. Are these companies trying to turn business away? Have they expanded too rapidly? Are they having operational issues? Are they afraid of what the future holds?  In a word, the simple answer to all those questions is YES!!

Credit card companies are already experiencing a significant increase in delinquencies and defaults and expect both those figures to ratchet higher in the face of rising unemployment.  Read the rest »


Confidence

Posted by Larry Doyle on March 21st, 2009 10:07 AM |

Our economy, markets, and global finance are impacted by a wide array of factors. While various analysts will focus on the differing magnitudes of a variety of these factors, I know of nobody who would not say that ultimately the greatest factor of all is “confidence”. While there is a monthly Consumer Confidence Survey generated by the University of Michigan, confidence is not measured by hard data.

Regrettably, we are currently suffering a crisis of confidence. The crowd in Washington has not helped instill confidence with its scattered approach to legislation and policy.

Over and above the problems in Washington, our global economy is suffering from increasing protectionist measures. Our current administration may talk about free trade and open markets, but their actions speak otherwise. Those actions impact global confidence. Other countries and regions are equally guilty of the same issues. Read the rest »


Goldman and AIG

Posted by Larry Doyle on March 21st, 2009 5:49 AM |

There has been extensive speculation that Goldman Sachs unjustifiably benefited from the weakness at AIG over the last 6 months. While conspiracy theorists can and will have a field day with this story, at its core I think Goldman did what any well run firm should always do — protect its shareholders.

While the stock values of Merrill Lynch, Morgan Stanley, and Bank of America flirted with total disaster, Goldman Sachs traded down but bottomed out at approximately $50 a share. That price does not strike me as indicative of a firm on the brink of bankruptcy. As Goldman now reveals, it had significant exposure to AIG but it also significantly hedged this exposure to AIG via other transactions. Thus, Goldman would have been negatively impacted by an AIG bankruptcy but not fatally impacted. Read the rest »


Will Jamie Dimon be the Next Treasury Secretary?

Posted by Larry Doyle on March 20th, 2009 9:02 PM |

The pressure on Treasury Secretary Tim Geithner is increasing from within the Democratic Party, across the aisle, and the media. Will Tim be fed to the lions? Well, the standard procedures of implementing change seem to be occurring. What are those steps?

JP Morgan Chairman and CEO, Jamie Dimon

JP Morgan Chairman and CEO, Jamie Dimon

1. A vote of confidence by the Administration. Always a kiss of death!

 2. Leak the name of a strong prospective secretary. 

 Who might that be? JP Morgan Chairman and CEO, Jamie Dimon. 

 Dimon is enormously well respected in Washington and Wall Street. He can quickly build a team. He has run very large organizations. He has been a longtime Democratic supporter and publicly promoted President Obama and his plans.

I find it interesting that Dimon’s name was bandied about last October as a prospective leader of Treasury.  Market Watch highlighted this fact in reporting The Next Treasury Secretary Is…

As the firestorm over the prospective legislation to restrict Wall Street bonuses grows, do not be surprised to see Dimon ride in on the white horse to broker peace between Washington, the financial community, and the public at large.

LD


Telling It Like It Is

Posted by Larry Doyle on March 20th, 2009 5:32 PM |

I am neither a Democrat, nor a Republican. Amidst all the pandering and nonsense, I think it is beneficial to get a clear review and hear someone tell it like it is. Rep. Thaddeus McCotter (R-Michigan) does a very good job.

Shame on everyone involved in Washington for a poorly written Stimulus Bill, and an equally poor legislative process.

          


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Larry Doyle

Larry Doyle A Wall Street veteran's views and instincts on the markets, economy, and all things financial.







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