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Posts Tagged ‘Barney Frank’

Book Review: Reckless Endangerment: A Wall Street-Washington Incestuous Legacy and A MUST READ

Posted by Larry Doyle on January 21st, 2012 3:33 PM |

Years from now when people study what led to the greatest economic crisis since the Great Depression, they will have plenty of material to review. This is good.

Unlike our current era in which we clearly failed to learn from past crises, I hope future generations will not only study what led to our current crisis but then actually do something so it is not repeated. We have yet to begin that process.

On that note, let’s start right now to save our collective future. How so?

If we are to save our future, then let’s be brutally honest about our past and our present(more…)

What Should ‘Occupy Wall Street’ Demand?

Posted by Larry Doyle on October 11th, 2011 9:44 AM |

I received a call yesterday from a reporter from a highly regarded periodical inquiring about my recent commentary, ‘Occupy Wall Street’ Should ‘Occupy Washington’.

Having had a number of previous discussions with this reporter, I welcomed her question as to what I thought the OWS movement should look to achieve or demand.

I prefaced my comments by stating that I hope civil unrest and random violence do not come from these demonstrations. America needs a lot of things but we certainly do not need riots. (more…)

‘Occupy Wall Street’ Should ‘Occupy Washington’

Posted by Larry Doyle on October 7th, 2011 11:53 AM |

Is Wall Street the center of all the problems in America?

Many of those involved in the “Occupy Wall Street’ demonstrations may think so.

I strongly believe that they are wrong.

Those with a keen ‘sense on cents‘ understand that Wall Street does embody part of our national problems. They also appreciate that the stench that overhangs Wall Street is consistent with an incestuous and far stronger odor emanating from Washington. (more…)

American Mandate: Congressional Reform Act of 2011

Posted by Larry Doyle on January 7th, 2011 6:03 PM |

The outline highlighted below needs no real preamble. The fact is this draft should be an American Mandate as it represents the ultimate ‘sense on cents.’ The time is long past due for some accountability in Washington. This mandate is the right start.

Much like the reflection of Capitol Hill in the photo to the right, the members of Congress may want to reflect upon just how elitist the entire body has become. Who in Congress has the balls and the backbone to propose this Reform Act? I am calling out each and every Republican and Democrat alike. Who’s in?? You call yourselves Americans? Let’s see it.

I thank the friend who passed this along and I would encourage others to spread this American Mandate!!

CONGRESSIONAL REFORM ACT of 2011………….. (more…)

POGO’s Angela Canterbury “Cross Examines” in re: SEC’s FOIA Exemptions

Posted by Larry Doyle on September 18th, 2010 11:33 AM |

Saturday morning in America and life is good.

Yesterday, I gave major props to our great American Gary Aguirre for addressing critically important issues embedded in the recently enacted Financial Regulatory Reform package which allows further FOIA (Freedom of Information Act) exemptions by the SEC. (Aguirre wrote a fabulous dissertation in the September Wall Street Lawyer, which I embedded in my commentary.) I qualified yesterday’s commentary, Great American Gary Aguirre “Cross Examines” in re: SEC’s FOIA Exemptions, as perhaps the most important and enlightening ever put forth at Sense on Cents. I truly believe that. Gary Aguirre is a great American.

He has company. (more…)

Great American Gary Aguirre “Cross Examines” in re: SEC’s FOIA Exemption

Posted by Larry Doyle on September 17th, 2010 8:03 AM |

I truly believe this could be the single most important and enlightening commentary ever put forth at Sense on Cents. Although it is a little lengthy and has some legalese, if you care about truth, transparency, and integrity in our nation, take the time to read and review. You will be better for it. I encourage you to share it with friends and colleagues.

Washington still does not get it.

I strongly believe the deeply embedded Wall Street-Washington incestuous relationship was central to the erosion of our economic foundation. While that incest must be extirpated if we are to regain our economic standing, we continue to suffer through “show trials” dealing with the critically important topic of pursuing transparency across our political and financial landscape. Regrettably, the media in general provides limited coverage to this ongoing pursuit. To that end, I welcome banging this drum and engaging those in our nation who will ask the hard questions and put forth aggressive propositions so real transparency can be achieved. Even if the pursuit comes up short, the effort and goals are beyond worthy. Let’s navigate.

Yesterday, the House Financial Services Committee chaired by Barney Frank held a hearing to address the SEC’s exemptions from Freedom of Information requests embedded in the Financial Regulatory Reform legislation. Congressman Frank rolled out the red carpet to SEC Chair Mary Schapiro. From the testimony, Frank offers: (more…)

SEC Feeling the Heat on Freedom of Information

Posted by Larry Doyle on August 4th, 2010 7:29 AM |

Washington and Wall Street are skilled at utilizing smoke and mirrors to advance their collective agenda. The simple fact is most of our Washington operatives do not understand basic financial concepts. The reality of the situation is that our supposed leaders are content to remain blind to the realities of finance as long as Wall Street continues sending campaign funds their way.

Fortunately, others in our nation take a more impassioned view of the world and aggressively question where Washington often passes. To this end, I thank a friend who shared the following letter highlighted today at the Project on Government Oversight on our new favorite topic about the lack of transparency at the SEC.

This letter is comprehensive in addressing a number of critically important points. Do you ever wish that we could have representatives from these organizations questioning not only our elected officials, but also our appointed officials such as Mary Schapiro? I wish that all the time. Please take a few minutes to ponder the issues embedded in this letter. Ask yourself whom you really believe are protecting your interests.

August 3, 2010

Senator Christopher Dodd
Senate Committee on Banking, Housing and Urban Affairs
534 Dirksen Senate Office Building
Washington, D.C. 20510 (more…)

Let’s Review “What They Said About Fan and Fred”

Posted by Larry Doyle on June 3rd, 2010 5:55 AM |

What do you have to do today? What did you do yesterday? What is on your schedule for tomorrow? What did the market do yesterday? What will the market do today? What might it do tomorrow?

America lives in the moment. While in certain circumstances that emphasis on the immediate may be helpful and appropriate, in my opinion, that approach generates a lack of real depth and understanding within our national psyche.

Real sense on cents requires a much greater understanding of the past in order to generate a much more astute projection of the future. We must hold our financial and political leaders to a similar — if not even more vigorous — standard. Regrettably, we allow the Wall Street and Washington establishments, in concert with an ineffective media, to frame our national debate. In the process, are we mere mindless lemmings being led to slaughter? (more…)

Rep. Jen Hensarling (R-TX): “You Are a Sucker”

Posted by Larry Doyle on April 14th, 2010 10:10 AM |

Charity is one thing. Throwing good money after bad is an entirely different can of worms.

Is the Obama administration’s housing policy trying to be charitable in support of those who have truly fallen on hard times and need government assistance, or is it more redistributing wealth to those who made unwise financial decisions from the outset? Do Obama and team know the difference? (more…)

Wall Street’s ‘Code of Silence’

Posted by Larry Doyle on April 7th, 2010 9:03 AM |

Shut up!!!

Imagine being in a situation in which you knew you had to be quiet in order to advance your own personal career, rather than speaking up and blowing the whistle on irregularities and improprieties within your firm. This message is consistently relayed by many a whistleblower who has suffered from having tried to do the right thing. What is the result? Firms tout their virtuous values of integrity, respect, and excellence while effectively muzzling those who would blow the whistle on crimes and illegal practices.

I believe this reality is all too present in many, if not most, industries in our society today. There is absolutely no doubt it is present on Wall Street. (more…)

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