Posts Tagged ‘Chuck Schumer’
Posted by Larry Doyle on March 22nd, 2012 5:31 AM |
The penalties handed out by NFL Commissioner Roger Goodell to the coaches and executives of the New Orleans Saints organization for the bounty program practiced down on the bayou were perhaps the stiffest in the history of the game.
Goodell has shown himself to be a no-nonsense individual cut from the mold of Kenesaw Mountain Landis. Goodell is clearly focused on protecting the sport, and knows that any program which promotes an intent to injure renders modern day football to little more than barbarism. (more…)
Tags: Albert Loewenthal, Barack Obama, Ben Bernanke, Brian Moynihan, Chuck Schumer, Darrel Issa, Eric Holder, Greg Williams, James Gorman, Jamie Dimon, Jim Himes, Jon Corzine, Judge Kenesaw Mountain Landis, justice on Wall Street, Lloyd Blankfein, Mary Schapiro, New Orleans Saints, penalties for New Orleans Saints, penalties on Wall Street, Preet Bharara, Richard Blumenthal, Richard Ketchum, Robert Khuzami, Roger Goodell NFL Commissioner, Sean Payton, Spencer Bachus, the integrity of the game, Timothy Geithner
Posted in General | 2 Comments »
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…)
Tags: ARS, Auction Rate Securities, Barack Obama, Barney Frank, campaign contributions, Center for Responsive Politics, Chris Dodd, Chuck Schumer, Democratic Party and OWS, FINRA POGO, John Boehner, occupy wall street, occupy wall street's demands, OpenSecrets.org, Spencer Bachus, Wall Street-Washington incest, what should occupy wall street demand, who is heading up occupy wall street, who is leading OWS
Posted in General | 17 Comments »
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…)
Tags: ARS, Barack Obama, Barack Obama Franklin Raines James Johnson, Barney Frank, Chris Dodd, Chuck Schumer, demonstrations on Wall Street, Fannie Mae, FINRA, frustration in America, John Kerry, Larry Doyle, Mary Schapiro, occupy wall street, Occupy Washington, quid pro quo, regulatory capture, Richard Ketchum, Sense on Cents, truth transparency and integrity, Wall Street and Washington relationship, Wall Street demonstrations, Wall Street regulations, Wall Street's greatest scam, Wall Street's relationship with Washington, Wall Street-Washington incest, who is backing Occupy Wall Street, why are they demonstrating on Wall Street
Posted in General | 11 Comments »
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…)
Tags: all those in Congress and the U.S. Senate, American Mandate, Barney Frank, Chuck Schumer, Congress, Congressional contracts, Congressional health care system, Congressional pay, Congressional Reform Act of 2011, Darrell Issa, Paul Ryan, what must Congress do
Posted in General | 32 Comments »
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…)
Tags: accounting at Fannie and Freddie, Alan Greenspan, armando falcon, Barney Frank, Christopher Dodd, Chuck Hagel, Chuck Schumer, Fannie Mae Freddie Mac, Franklin Raines, Gregory Meeks, I want to roll the dice, Let's review What They Said About Fan and Fred, let's roll the dice, losses at Fannie and Freddie, Maxine Waters, OFHEO, Richard Shelby, Robert Bennett, Senate Banking, sub-prime mortgages, Thomas Carper
Posted in Fannie Mae, Freddie Mac, General | 7 Comments »
Posted by Larry Doyle on April 23rd, 2010 11:22 AM |
Chuck Schumer (D-NY)
No single member of Congress has received more financial support from the financial services industry than Chuck Schumer (D-NY). As such, Schumer is catching a lot of heat from the industry these days for not properly defending its interest against pending financial reform legislation.
The simple fact is, though, both the industry and Schumer do not appreciate that America has already graded them as huge failures. Hell, if we listen to Schumer himself, we can not come up with any other determination than that he has failed his constituents in New York and the country as a whole. How so? (more…)
Tags: A Wall Street Ally Balances Loyalties, Chuck Schumer, Chuck Schumer balances loyalties, Chuck Schumer the undertaker, health of financial services industry
Posted in Chuck Schumer, General | 3 Comments »
Posted by Larry Doyle on January 4th, 2010 9:47 AM |
For those who missed last evening’s No Quarter Radio’s Sense on Cents with Larry Doyle Hall of Fame and Shame Induction, I am compelled to provide a recap and listing of all those honored or dishonored — depending on one’s perspective. What was the measuring stick to make these assessments? Very simply, the pursuit and promotion of truth, transparency and integrity as we navigate the economic landscape.
Some names you will immediately recognize, others you may not. Additional information about these individuals can be found via the search window (located above the right sidebar) at Sense on Cents. The names appear in no specific order of priority or importance. With no further adieu . . .
Sense on Cents 2009 Hall of Shame Inductees
1. Bernie Madoff
2. Nicholas Cosmo: ran financial scam at Agape World
3. Tim Geithner: tax cheat amongst other things
4. Larry Summers: arrogant, condescending, and sleep deprived
5. Auction-Rate Securities dealers and managers, especially Oppenheimer Holdings, E-Trade, Schwab, Pimco, Van-Kampen, Blackrock
6. The Wall Street Journal
7. George Soros
8. Chris Dodd (D-CT): reasons too numerous to mention
9. The Board of FINRA
10. Franklin Raines and Leland Brendsel: former CEOs of Fannie and Freddie
11. Wall Street management, especially Lloyd Blankfein of Goldman Sachs
12. Frank Dipascali: a special place in hell for Madoff’s CFO
13. Rahm Emanuel
14. Jimmy Cayne: CEO of Bear Stearns
15. Dick Fuld: CEO of Lehman Bros.
16. Congress collectively
17. Barney Frank (D-MA): reasons too numerous to mention, but start with “I want to roll the dice…”
18. Bank Stress Tests: a total sham
19. Allen Stanford
20. Steven Rattner: car czar
21. Bruce Malkenhorst: receiving a 500k pension from Vernon, CA
22. Barack Obama: just another politician (more…)
Tags: Acorn, Allen Stanford, Andrew Madoff, Angelo Haligiannis Ponzi scheme, Arianna Huffington, auction rate securites dealers, Bank Stress Tests, Barack Obama, Barney Frank, Ben Nelson, Bernie Madoff, Board of FINRA, Bob Rodriguez of FPA, Bruce Malkenhorst, Canadian Prime Minister Stephen Harper, Carmen Reinhart, cash for clunkers, Charles Bowsher, Charlie Doyle, Chris Cox, Chris Dodd, Chuck Schumer, Clifford S. Asness, Cohmad Securities, Colonel Elton Johnson Jr., Congress, Daniel Hannan, Dennis Kucinich, Dick Fuld, Edward Liddy, Elizabeth Warren, Erin Arvedlund, financial media, financial regulatory reform, Frank DiPascali, Franklin Raines and Leland Brendsel, George Soros, Goldman Sachs, Harvey Pitt, Helen Davis Chaitman, Helmut Kiener, Howard Kastel, incest between Wall Street and Washington, Jeff Gundlach, Jeffrey Picower, Jimmy Cayne, Joe Saluzzi, Joe the Plumber, John Edwards Mark Sanford Rod Blagoevich, John Mauldin, john wooden, Jonathan Cuneo, Jonathan Weil of Bloomberg, Judge Jed Rakoff, Judge Lawrence McKenna, Kenneth Rogoff, Larry Johnson, Larry Summers, Laurie Goodman of Amherst Securities, Lew Rockwell, Lloyd Blankfein CEO of Goldman Sachs, Madoff family, Mark Madoff, Marta Mossburg, Martin Feldstein, Mary Landrieu, Mary Schapiro, media in America, Mike Duggan of Domus, Nicholas Cosmo of Agape World, Oppenheimer Holdings E-Trade Schwab Pimco Van-Kampen Blackrock, Paul Keating, Paul Volcker, Pete Peterson Genevievette Walker-Lightfoot, Peter King, Peter Madoff, Peter Weinberg, Phil Trupp, PPIP, Raj Rajaratnam of Galleon Group, Rham Emanuel, Richard Greenfield, Richard Ketchum, Robert Benmosche, Robert Jaffe, Robert reich, Robert Rubin, Ronnie Sue Ambrosino, Ruth Madoff, Sean D'Arcy, SEC, Sense on Cents 2009 Hall of Fame Hall of, Sense on Cents 2009 Hall of Shame, Shana Madoff, Shelia Bair, Sin-Ming Shaw, SIPC, Sonny and Marcia Cohn, Steven Rattner, Susan Antilla of Bloomberg, Taylor Bean Whitaker, Tea parties, Thaddeus McCotter, The Wall Street Journal, Themis Trading, Thomas Hoenig, Tiger Woods, Tim Geithner tax cheat, Tom Lauria, truth transparency and integrity, Wall street management, Walter Noel, William K. Black
Posted in General, Sense on Cents | 31 Comments »
Posted by Larry Doyle on April 26th, 2009 9:04 AM |
Barney Frank may try to rewrite his Congressional record on housing finance, but he will forever be linked to supporting the activities of Freddie Mac and Fannie Mae which drove irresponsible sub-prime lending. A review of a WSJ article, What They Said About Fan and Fred, is truly damning. I strongly recommend your reading it. Who can ever forget back in 2003 Barney Frank stating in Congressional testimony addressing Freddie and Fannie specifically and housing finance:
House Financial Services Committee hearing, Sept. 10, 2003:
Rep. Barney Frank (D., Mass.): I worry, frankly, that there’s a tension here. The more people, in my judgment, exaggerate a threat of safety and soundness, the more people conjure up the possibility of serious financial losses to the Treasury, which I do not see. I think we see entities that are fundamentally sound financially and withstand some of the disaster scenarios. . . .
Tension? Threat of safety and soundness? Financial losses? Fundamentally sound? Disaster scenarios? With a “watchdog” like Barney is there really any surprise how and why Freddie and Fannie were plundered by their own executives and the sub-prime lending industry? It is not a stretch in stating that Barney had the welcome mat out and held the door open.
I am not stating that Barney was directly complicit in the fraudulent sub-prime lending, but he certainly defines naivete and incompetence on this front. His Democratic sidekicks – Dodd, Schumer, and Waters -were complicit and also drinking from the same punch bowl.
What about Barney’s comment regarding oversight of Freddie and Fannie:
House Financial Services Committee hearing, Sept. 25, 2003:
Rep. Frank: I do think I do not want the same kind of focus on safety and soundness that we have in OCC [Office of the Comptroller of the Currency] and OTS [Office of Thrift Supervision]. I want to roll the dice a little bit more in this situation towards subsidized housing. . . .
Again in 2005, Barney continued to stand his ground on the housing front despite rampant signs at that point of irresponsible lending and incipient fraud:
Well now that Barney and our entire country have “crapped out” on his roll of the dice, Barney decides homeownership may not be the best thing for all concerned. In a height of pandering well beyond the Washington norm, Barney offers the following in this excerpt from an interview on the Tavis Smiley show on PBS on April 20, 2009:
Is there any doubt that the burgeoning wind power industry in our country should engage Barney as their spokesperson? In so doing, Barney’s hot air may actually become a source of revenue for our great country rather than such an enormous expense.
Barney’s hot air should come with a warning, though, “Don’t Be Downwind!!”
LD
Tags: Barney Frank, Chris Dodd, Chuck Schumer, Congressional testimony on homeownership, Fannie Mae, Freddie Mac, Maxine Waters, oversight of Freddie Mac and Fannie Mae, sub-prime lending
Posted in Barney Frank, General | 1 Comment »
Posted by Larry Doyle on March 25th, 2009 9:46 AM |
Like it or not, Goldman Sachs is widely considered to be the preeminent risk manager in the world. I would never blanketly endorse Goldman Sachs nor every one of their transactions or employees. Anything but. I am sure Goldman, like every institution in every industry, has some bad apples who will and have made some bad, if not outright illegal, moves. If so, the proper regulatory authorities should address, investigate, and if need be prosecute. I am here to write on a different topic. Goldman Sachs does not want Uncle Sam as a business partner. Whether Goldman wanted government money last Fall via the TARP (Troubled Asset Recovery Program) or not, the firm very clearly wants to return those funds soon.
Goldman Sachs is currently working with government officials to return $10 billion in TARP funds by late April. The firm will look to make this return after the U.S. Treasury completes its first round of bank stress tests. Other smaller banking institutions are looking to do the same. (more…)
Tags: Banking Institutions, Barack Obama, Barney Frank, Chris Dodd, Chuck Schumer, counterparty risk, Goldman Sachs, Harry Reid, Joe Biden, Nancy Pelosi, TARP, Warren Buffett
Posted in Banking Institutions, Christopher Dodd, Congress, Democratic Party, Obama Administration, Wall Street | 7 Comments »
Posted by Larry Doyle on March 19th, 2009 12:36 PM |
Senator Dodd did not exactly fall on the sword for the Obama administration as Bloomberg reports, Senator Chris Dodd Blames Obama Administration for Bonus Amendment.
The very legislators who rushed through the Stimulus Bill, which included provisions to prevent AIG-like bonuses, are now railing and pandering as never before. Who are these politicians? Nancy Pelosi, Harry Reid, Barney Frank, Chuck Schumer, and many more. Treasury Secretary Geithner Vows to Recoup AIG Bonuses as Lawmakers Express Fury. Geithner himself feigned ignorance of his knowledge of these AIG payouts.
What do we learn from this sort of political circus? (more…)
Tags: AIG, AIG bonuses, Barney Frank, Chris Dodd, Chuck Schumer, Citigroup, Harry Reid, IMF, JP Morgan, Nancy Pelosi, Northern Trust, Obama Administration, stimulus bill, Tim Geithner
Posted in AIG, Bailout, Barack Obama, Barney Frank, Christopher Dodd, Citigroup, Commerce, Congress, Economic Stimulus, Economy, JP Morgan, Nancy Pelosi, Obama Administration, Wall Street | 6 Comments »
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