Posts Tagged ‘Barack Obama’
Posted by Larry Doyle on July 17th, 2010 11:20 AM |
Elizabeth Warren
Truth, transparency, and integrity!
If our nation is to have any chance to recover from the throes of the worst economic crisis since the 1930s, it had better start elevating and embracing these aforementioned virtues. Time and time again, when we review business practices and political decisions at the center of our crisis, we have seen a glaring lack of these prized virtues. Why and how were these principles compromised? The pursuit of short term profit. Regrettably, this pursuit came at the expense — if not total violation — of these principles. The ultimate long term costs are now being borne by the nation as a whole.
Sense on Cents abhors those who would compromise these core values. Similarly, Sense on Cents embraces those who cherish these values. To that end, I strongly endorse Elizabeth Warren to head the Consumer Financial Protection Agency. (more…)
Tags: Barack Obama, CFPA, costs vs profits, does Wall Street own Washington, Elizabeth Warren, Elizabeth Warren Tim Geithner, Greenwich Investment Management, Huffington Post, Larry Doyle, President Obama, pursuit of integrity, pursuit of transparency, pursuit of truth, Sense on Cents, short term profits vs long term costs, Tim Geithner Opposes Nominating Elizabeth Warren to Lead New Consumer Agency, Treasury Secretary Tim Geithner, Wall Street-Washington incest, what is CFPA, who will head CFPA, who will head Consumer Financial Protection Agency, who will Obama select to head CFPA for
Posted in Elizabeth Warren, General, Tim Geithner | 2 Comments »
Posted by Larry Doyle on June 8th, 2010 12:15 PM |
Is Barack Obama listening to the political winds blowing across Europe? With European central bankers turning away from ongoing fiscal stimulus in an attempt to avert a sovereign currency crisis, political leaders in Europe are singing from the same sheet of music. If you don’t think so, let’s listen to the recently elected British Prime Minister David Cameron. What does Cameron have to say? The Financial Times sheds real insights into the future for the UK in writing, Cameron Warns on Impact of Cuts:
David Cameron, Britain’s prime minister, yesterday put the country on notice that his plan to cut the £156bn deficit would have “enormous implications”, warning that public sector pay, pensions and state benefits would all face cuts.
Mr Cameron’s new coalition government has prioritised deficit reduction and is preparing Britain for what is expected to be a bruising “emergency Budget” on June 22. The prime minister said the cuts would hit “every single person in our country”.
What does Barack think about that? (more…)
Tags: Barack Obama, Cameron Warns on Impact of Cuts, David Cameron, deficit reduction in the UK, elections June 8 2010, Financial Times, Obama, Obama Administration, Obama sitting duck, public pensions, public sector pay and benefits, state benefits, UK emergency budget June 22, UK Prime Minister David Cameron, wealth creation, wealth redistribution
Posted in Barack Obama, David Cameron | 1 Comment »
Posted by Larry Doyle on June 2nd, 2010 1:20 PM |
Has America lost the courage to aggressively address those who commit fraud? Is the American public even aware of the massive fraud perpetrated by those in our financial system which led to our current economic crisis? Are those in Washington willing to take a stand, risk their own skins, call out those engaged in fraud, even if some of the fraudsters occupy neighboring seats at nearby regulatory bodies?
Unless we find people in our government who are willing to make these calls, repeat them publicly in a long, loud fashion, and compel prosecutors to issue indictments, then I fear our union will pay a price and incur a cost that may be immeasurable.
Why so strong? Why so strident? (more…)
Tags: addressing fraud, AIG, Arlen Specter, Barack Obama, Ben Bernanke, bill thomas, Brooksley Born, caveat emptor, CDS, Charles Keating, Conspiracy of Fools, control frauds, Dick Cheney, economic theory, efficient market hypothesis r, Enron scandal, Fannie Mae, FCIC, Financial crisis inquiry commission, financial frauds, fraud in our economy, frauds, Freddie Mac, George Akerlof, George W. Bush, Goldman Sachs, Hank Paulson, heather murren, how to address fraud, IBG YBG, indict fraudsters, investigating fraud, James Stewart's Den of Thieves, Joe Biden, John K. Galbraith, John Paulson, Kurt Eichenwald, Levy Economics Institute, liar loans, Lloyd M. Bentsen Jr. chair in Government Business Relations, market discipline, Mary Schapiro, Nelson's Eye, neutron loans, ninja loans, Paul Romer, Peter Fisher, phil angelides, rational expectations, Representative Doggett, Robert Johnson, Savings and loan fraud, SEC, speculation, systemic fraud, Thomas Ferguson, Tim Geithner, University of Texas, Wall Street, Washington, William K. Black
Posted in General | 4 Comments »
Posted by Larry Doyle on May 20th, 2010 6:41 AM |
Somebody in Washington might want to pull President Obama aside and inform him that he is the President of the “United States,” not the President of North America or the President of a future Mexican-American Federation. Putting pure party politics aside, when a leader of a nation openly and brazenly turns his back on that nation’s laws and its citizens, sovereign risk increases.
Sense on Cents is not a political site, but developments over the last few days warrant my remarks on how the Obama administration and Obama himself represent increased risk to the value of our dollar and our sovereign integrity. To what do I refer? (more…)
Tags: Arizona immigration law, Arzona immigration law and Chinese human rights abuses, Assistant Secretary of State Michael Posner, Barack Obama, Jose Calderon, Michael Posner, Obama, Obama administration view on illegal immigrants
Posted in General | 2 Comments »
Posted by Larry Doyle on May 19th, 2010 11:30 AM |
Paul Volcker
We’re different, right? The economic problems in Greece and other nations within the EU are their problems and not ours. Really? In my opinion, Americans are far too complacent regarding our economic problems. We shouldn’t be.
Will the economic, political, and civil waves of unrest rolling across Europe come ashore here in America? It is only a matter of time unless those in Washington charged with addressing the underlying issues take swift action. I have seen zero inclination and political will to do just that. Our Washington elite are so used to feeding at the trough that they would not know how to pull themselves away. How is America responding to these fat pigs?
(more…)
Tags: Americans lack of urgency, Barack Obama, budget deficits, civil unrest in EU, deficits, ECB President Jean-Claude Trichet, Economic Recovery Advisory Board, economic unrest in EU, entitlement programs, lack of urgency, Paul Volcker, political unrest in EU, Stanford Institute for Economic Policy Research, Tom Keene of Bloomberg, urgency in America, Volcker Says Time is Running OUt for US to Tackle Fiscal Woes
Posted in General, Paul Volcker | 5 Comments »
Posted by Larry Doyle on March 16th, 2010 3:32 PM |
Is the White House now in charge of both fiscal and monetary policy?
The Federal Reserve just released its March statement confirming no change in its monetary policy and little change in economic outlook. A brief overview of the Fed’s statement includes the following:
>> Maintains the Fed Funds range at 0-.25% for an extended period.
>> The quantitative easing program used to purchase $1.25 trillion in mortgage-backed securities and $125 billion in federal agency debt is nearing completion at the end of this month. The Fed will monitor economic conditions and employ policy tools as necessary to promote economic recovery and price stability.
>> Economic activity is generally improving. The overall pace of economic recovery is moderate. (more…)
Tags: Barack Obama, Ben Bernanke, Christina romer, economic activity March 16 2010, extended period, extended period in White House statement, Fed statement March 16 2010, Fed's independence, Federal Reserve, Federal Reserve statement March 16 2010, Federal Reserve's independence, fiscal policy, inflation March 16 2010, Is the Fed independent, labor market March 16 2010, monetary policy, Peter Orszag, quantitative easing, sell the dollar, Tim Geithner, Wall Street Main Street March 16 2010, White House coordiantion with Federal Reserve
Posted in Barack Obama, Ben Bernanke, Federal Reserve, General | 7 Comments »
Posted by Larry Doyle on February 26th, 2010 6:22 PM |
Is it any surprise that the next drawdown in a multi-billion dollar ongoing bailout gets posted at 5pm on a Friday afternoon? Not in this economy where Uncle Sam, that’s you and me boys and girls, continues to pay for the woefully mismanaged financial and legislative practices of those in Washington.
The gutless typically prefer to operate under a veil of darkness.
I am referring to the sinkhole that is the organization known as Fannie Mae, as it comes back to the well for another $15 billion. Bloomberg highlights this ongoing bleeding in writing, Fannie Seeks $15 Billion in U.S. Aid After 10th Straight Loss:
Fannie Mae, the mortgage-finance company under federal conservatorship, said it will seek $15.3 billion in aid from the U.S. Treasury after posting a 10th straight quarterly loss. (more…)
Tags: Barack Obama, Barney Frank, Chris Dodd, Daniel Mudd, Fannie Mae, Fannie Mae losses, Fannie Seeks $15 Billion in U.S. Aid After 10th Straight Loss, Franklin Raines, housing, Housing Crisis, housing policy, John Kerrey, Mortgage Crisis, Mortgages
Posted in Fannie Mae, General | 3 Comments »
Posted by Larry Doyle on February 2nd, 2010 3:02 PM |
I have debated writing about Robert Wolf.
Who is Robert Wolf? The CEO of UBS Group Americas and one of if not the closest adviser President Obama has on Wall Street. Wolf was profiled in The Wall Street Journal on January 23rd, Obama’s Lead Blocker on Wall Street:
Mr. Obama has at least one buddy in the banking business: a former University of Pennsylvania fullback and ex-Salomon Brothers bond trader who now serves as an outside White House adviser. (more…)
Tags: Barack Obama, Barack Obama and Robert Wolf, Barack Obama Robert Wolf George Soros, career of Robert Wolf, CEO of UBS Group Americas, Jim Torrey of Torrey Funds, mortgage losses at UBS, Obama, Obama and Wolf, Obama Wolf Soros, Obama's Lead Blocker on Wall Street Wall Street Journal, Obama's relationship with Robert Wolf, Robert Wolf, Union Bank of Switzerland, who is Robert Wolf
Posted in General, Obama Administration, UBS | 8 Comments »
Posted by Larry Doyle on January 21st, 2010 8:54 AM |
One year into his presidency, Barack Obama is losing support from many corners. The American public is clearly sending Obama specifically and Washington at large a strong message of disapproval. Obama’s liberal base of support within the Democratic Party is growing increasingly disenchanted. Individual supporters such as The New York Times’ Paul Krugman are backing away from Obama.
Obama and team have nobody to blame but themselves. They were elected to bring real change to Washington. The American public defined that change as embracing real truth, transparency, and integrity. To this point, Obama has fallen woefully short on all these fronts and proven himself to be ‘just another politician.’
Obama has tried to scale Mt. Everest when in fact the American public and economy were merely and are still trying to get back to sea level. As Obama looks to regroup and reconnect with the American public, what will he do? (more…)
Tags: America wants transparency in washington, Barack Obama, did Tim geithner sell his house, fire the messenger Tim geithner, is Obama just another politician, Krugman writes he wasnt the one we've been waiting for, liberal base disenchanted with Obama, Obama Administration, Obama administration mistakes es, Obama cabinet, Obama embraces Volcker plan, Obama plan to curtail proprietary trading on Wall Street, obama Presidency, Obama promotes Paul Volcker, Obama prop trading plan, Obama's financial team Geithner Summers Bernanke Schapiro, Obama's plans for Wall Street, Paul krugman backs away from Obama, truth transparency and integrity in washington, tts message to Obama, what will Obama do?, will Obama can Geithner, will Obama fire Tim Geithner?, will Obama reinstitute Glass-Steagall, will Obama replace geithner with Paul Volcker
Posted in Barack Obama, General, Paul Volcker, Tim Geithner | 4 Comments »
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The initial Bank Stress Tests run by Treasury Secretary Geithner were largely a sham. I questioned as much last April in writing, “Bank Stress Tests: Major Sham?”:
