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Martin Luther King: “I Have a Dream”

Posted by Larry Doyle on January 21st, 2013 10:00 AM |

In the summer of 1963, Martin Luther King delivered his “I Have a Dream” speech at the Lincoln Memorial in Washington D.C.. On this the day that our nation honors Dr. King, I welcome sharing his words once again so that we may try to reflect on where our nation stood at that point in time and simultaneously critique ourselves as to where we stand today.

“I Have A Dream”

I am happy to join with you today in what will go down in history as the greatest demonstration for freedom in the history of our nation.  Read the rest »


Weekend Read: Bill Bratton’s Cures for Gun Violence

Posted by Larry Doyle on January 19th, 2013 12:55 PM |

Given all of the attention to the gun issue, I welcome sharing this Wall Street Journal Weekend Interview with William Bratton. Who is he? Former New York City (and Los Angeles) police commissioner. How did he do while In New York?

Mr. Bratton publicly promised to cut crime by 10% in his first year and 15% in his second. Privately he told Mr. Giuliani that crime would drop 40% in three years.

And down it went. In two years, murders fell 39%, robbery 31%, burglary 25% and car theft 36%. By 1998, two years after he left the job but with his programs firmly in place, murders had fallen 70%, robbery 55%, burglary 53% and car theft 61%.

How might he address the gun issue currently?  Read the rest »


Federal Reserve Governors Comments from 2007

Posted by Larry Doyle on January 18th, 2013 7:12 PM |

If anybody thinks that the governors of the Federal Reserve have any degree of foresight on the economy, the following transcripts from 2007 are a MUST read. One governor, (yes one and it was not Ben Bernanke), displayed real foresight and expressed real concern on what likely lay ahead on our economic landscape. Who was it? The one I recently highlighted as calling for the breakup of our TBTF megabanks. That would be Dallas Fed governor Richard Fisher.

After reading this release provided by the WSJ, you may doubt the Fed’s collective capability in managing the economy.

Read the rest »


UPDATE: Who Will Be Next Head of the SEC?

Posted by Larry Doyle on January 18th, 2013 8:42 AM |

Two months ago, I inquired as to who might be our nation’s next chief financial cop, that is, the next head of the Securities and Exchange Commission.

Are we about to see a continuation of the Wall Street-Washington revolving door at work for this critically important position? How so?

A leak yesterday puts the name of Mary Jo White into the mix to head the SEC. Who is she? Is she the right person for the job? Not according to Sense on Cents Hall of Famer Gary Aguirre, who pulled no punches yesterday in asserting,

“Obama is not going to clean up financial corruption by pinning a sheriff’s badge on Wall Street’s protector-in-chief.”  Read the rest »


Fed Governor Fisher: “Break Up TBTF Banks”

Posted by Larry Doyle on January 17th, 2013 11:54 AM |

Three days ago I wrote how strongly I believe that the Wall Street landscape needs to be restructured. How so? I made my case in defining Wall Street as an oligopoly and Why Should the Banks Be Broken Up?

I concluded my commentary by highlighting that Dallas Federal Reserve governor Richard Fisher would be addressing this same topic on Wednesday evening. What did the good governor have to say?  Read the rest »


Calling All Auction-Rate Holders: OPEN FORUM

Posted by Larry Doyle on January 17th, 2013 8:57 AM |

We are now less than one month away from the five year anniversary of what I believe is the greatest fraud ever perpetrated on Wall Street. Regular readers know I am referencing the ARS (auction-rate securities) tragic debacle. I have been remiss in not addressing this situation for more than a few months and apologize for that.

Some past holders may wonder, “Is the ARS pain ongoing?” Indeed it is. Tens of billions of ARS remain outstanding. Some individuals and institutions still trapped in the painful ARS predicament may wonder if anybody even still cares about their plight. We do. Not only investors, but ARS issuers as well were ensnared by the Wall Street ARS trap and continue to experience very real pain in the process.

I broach this topic once again thanks to a reader who shared the following story about a communications firm entangled in the ARS mess the other day:  Read the rest »


America’s New Economic Policy: “Screw The Kids”

Posted by Larry Doyle on January 16th, 2013 8:41 AM |

What about me? What is in it for me? How does this work for me? The “ME” mentality strikes me as central to America’s new official economic policy.

Who is “ME”? Our Washington politicos.

What policy is that? Let’s navigate.

Having recently sidestepped the fiscal cliff, and as we continue to navigate the economic landscape, we are now faced, as the FT describes them, with “three enormous gorges.” Sounds ominous, right? What are the three gorges? Read the rest »


Why Should The Banks Be Broken Up?

Posted by Larry Doyle on January 14th, 2013 9:54 AM |

As much as I detest the involvement of the government in what are supposed to be free markets, I can appreciate the need for Uncle Sam’s stepping in to save our banking system in late 2008.

Now going on five years hence, it is time that we move to save capitalism. How do we do this? We need to break up the banks. Why so? Here’s a handful of reasons why:  Read the rest »


Libor Scandal: UBS Bosses, ‘We Knew Nothing’

Posted by Larry Doyle on January 11th, 2013 8:49 AM |

Senior executives at major Wall Street banks claiming they ‘knew nothing‘ of the scandalous rigging of Libor that generated untold billions of dollars in revenue over a multi-year time period might only be compared to one other comedic actor. Which one is that? How could we ever forget  the fabulously funny . . .

While Schultz, Hogan and the boys brought enormous comic relief to so many, there is little to laugh about rigged markets and incomplete information emanating from Wall Street. Read the rest »


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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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