Subscribe: RSS Feed | Twitter | Facebook | Email
Home | Contact Us

Simon Johnson: Financial Power Corrupts System

Posted by Larry Doyle on May 23rd, 2013 9:05 AM |

Incestuous activity in every fashion is a destructive and corruptible force. Would anybody hoping to be regarded as a serious, credible individual dare say, “Hey, I think incestuous activity is actually pretty good.”

Certainly not, although those engaged in the behaviors may appreciate the benefits that accrue to them without wanting them brought to light.

On that  note, the incestuous dynamic that defines the Wall Street-Washington-Regulatory menage-a-trois continues to thrive. You don’t have to take my word for it. Let’s listen to what Simon Johnson, former chief economist of the IMF, professor at MIT Sloan, and a senior fellow at the Peterson Institute for International Economics has to say on this topic.  Read the rest »


Jamie Dimon: The King and His Court

Posted by Larry Doyle on May 22nd, 2013 5:06 AM |

Little surprise that Jamie Dimon will remain as both CEO and chairman of JP Morgan.

Was there really any doubt? There wasn’t.

While shareholder groups might pretend they can exert influence over the management of large corporations and especially banks, there is little meaningful resemblance to a democratic process in proxy voting.

Disgruntled individual shareholders can try to rally the troops and force change, but with an institution such as JP Morgan, who really carries the weight? Read the rest »


Pray for Moore, Oklahoma

Posted by Larry Doyle on May 21st, 2013 6:22 AM |

My heart breaks for the thousands of people directly and indirectly impacted by the horrific twister that ripped through the town of Moore, OK and surrounding communities yesterday.

I cannot begin to imagine the pain and suffering of families who have lost loved ones, especially young innocent children. Pray for them and let our prayers bring these people peace. Please also pray that lives may be saved in the ongoing search and rescue mission. Pray for those who are still in storm shelters that they may be found and saved. Please also pray for those who have been injured that they may recover fully. Pray that subsequent storms will spare lives.

The world will go on but for those in Moore and in close proximity life is forever changed. We do not need devastation such as this storm captured by these storm chasers to remind us of just how fleeting life is.

Pray for Moore and pray for peace.

LD

(for those receiving this commentary by e-mail and who would like to view the video clip please visit the site at www.senseoncents.com)


Fed-speak: Ease Air Out of Bonds – Support Equities

Posted by Larry Doyle on May 20th, 2013 9:38 AM |

“Don’t fight the Fed.”

While the fundamentals of our underlying economy bump along with continued structural headwinds and fiscal support from Uncle Sam remaining anemic, the Federal Reserve’s QE-infinity remains the underlying cornerstone supporting our markets.

With equities making new highs and high yield bonds trading at stratospheric levels, recent pronouncements from Fed officials strike me as looking to accomplish two goals: Read the rest »


UPDATE: Who Directed Abuses of Power at IRS?

Posted by Larry Doyle on May 17th, 2013 11:20 AM |

Is there any doubt that the IRS engaged in an abuse of power in the manner in which it handled the applications of selected groups for tax-exempt status?

In Congressional testimony this morning, the outgoing acting commissioner Steven Miller has done his best to parry — some would say stonewall — Republican committee members. The simple fact is America learned what it needed to from this hearing in the opening testimony provided by the Inspector General J. Russell George.

Let’s watch, listen, and learn: Read the rest »


Kathleen Furey v SEC: Wow, Just Wow . . . Read This

Posted by Larry Doyle on May 16th, 2013 6:26 AM |

For those with an interest in learning how our financial regulators fail to perform in upholding both the law and their duty to protect investors, the SEC is “the gift that keeps on giving.”

As if we did not already know that the SEC has all too often failed to protect investors, let’s navigate and learn about the case of current SEC employee Kathleen Furey. From a recent complaint brought by Ms. Furey against the SEC:

The three-year ascent of Kathleen Furey to higher levels of official responsibility and pay came to an abrupt halt in 2008, shortly after she was forced to become a whistleblower.  Read the rest »


Where Does The Buck Stop?

Posted by Larry Doyle on May 15th, 2013 9:09 AM |

So much for hope and change.

The stench of the cesspool of scandalous activities in Washington is now bubbling over into the backyards of those who have previously stridently defended this administration.

The flood of filth associated with the three current bombshell stories leaves me with a number of feelings and questions that I would like to share with readers. I would welcome hearing what readers make of all these sordid situations. My thoughts include: Read the rest »


Obamacare: Unaffordable for Many; Broken Promises Are Numerous

Posted by Larry Doyle on May 14th, 2013 8:39 AM |

A month ago Senator Max Baucus, a Democrat from Montana, projected that he envisioned the implementation of the President’s new health care program, aka Obamacare, as being “a train wreck.”

Well, in reviewing a report released yesterday by the US House of Representatives Committee on Energy and Commerce, we gain a greater appreciation for just how expensive this train wreck might be.

I hope readers are not already feeling ill at ease this morning because after reading this report I can assure you that you will get sick. Let’s navigate and look more deeply at The Looming Premium Rate Shock: >>>>>>> Read the rest »


Everything’s Political

Posted by Larry Doyle on May 13th, 2013 8:57 AM |

How sad.

In light of the ongoing developments with the stories centering on Benghazi and the abuse of power within the IRS, I feel compelled to offer a brief comment.

Politics is certainly a dirty business.

National security in a world filled with new risks has likely never been more challenging. That said, there comes a point in time where politics need to be set aside and the people’s business needs to be prioritized.

In the course of a brief conversation with a reporter who covers the scene in Washington, he shared with me that a since departed senior White House official shared with him that he was frustrated in his capacity. Why so? Read the rest »


Paul Ryan: Dodd-Frank Goes In Wrong Direction

Posted by Larry Doyle on May 10th, 2013 7:10 AM |

America is increasingly aware that banks that are too big to fail, trust, regulate, prosecute, and jail are thus — duh — TOO BIG TO EXIST!!

This basic principle espoused by anybody with even a modicum of “sense on cents” is gaining momentum in Washington given the growing bipartisan support for the Brown-Vitter Bill to address the too big to fail reality.

I personally believe the Brown-Vitter Bill should only be an initial pit stop on our way to breaking up these mega-banks that own Washington and run our country. Who recently weighed in on these topics?  Read the rest »


« Newer Posts — Older Posts »

Larry Doyle

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







Recent Posts


ECONOMIC ALL-STARS


Archives