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Posts Tagged ‘Better Markets’

Better Markets v DOJ in re: $13 Billion JPM Fine, A Question of Trust

Posted by Larry Doyle on February 11th, 2014 10:20 AM |

$13 billion is a lot of money even by Wall Street standards.

But is the $13 billion fine imposed on JP Morgan by the Department of Justice an appropriate penalty for the array of transgressions involved? In order to answer that question, one needs to rely on the inputs reviewed and the process utilized by the Department of Justice which meted out this justice.

The inability to undertake just such a review is the crux of the lawsuit brought by Better Markets, “a nonprofit, nonpartisan organization that promotes the public interest in financial reform in the domestic and global capital and commodity markets.”  (more…)

Dennis Kelleher Calls Out President Obama on Mortgage Fraud

Posted by Larry Doyle on January 28th, 2014 10:59 AM |

Do you plan on watching President Obama’s State of the Union address this evening?

Why do I think I hear many people who might read this blog say, “Why would I want to do that?”

In the midst of leaving an event last evening in New York City, a very informed pollster told me that the overwhelming sense in the nation today is that people are totally fed up with Washington and Wall Street. No surprise there, but why is that? Well, because all too often our politicians from both sides of the aisle over-promise and then under-deliver.

As an example of just that practice, I commend Dennis Kelleher, President of Better Markets, for releasing the following statement regarding the Obama administration’s promise he made two years ago in his State of the Union to bring real accountability to Wall Street.     (more…)

How Much Did Crisis Cost Economy? Begins with a T

Posted by Larry Doyle on January 29th, 2013 2:05 PM |

Have you ever wondered what a best guesstimate might be as to how much the 2008 crisis cost our economy? Well, not that many outlets around here may care to highlight this information, so let’s navigate to a Russian site, Rianovosti, at which we can read and learn,

The absence of criminal accountability for a crisis that cost the U.S. economy trillions of dollars in GDP and wiped out billions more in personal wealth amplifies the risk of a similar financial meltdown in the future, according to securities experts and former regulators.

Trillions?? That is a large number even by today’s standards where many in Washington throw the “t-word” around like it is no big deal. Can we get more specific?  (more…)

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