Subscribe: RSS Feed | Twitter | Facebook | Email
Home | Contact Us

Posts Tagged ‘crony capitalism’

Wall St ‘Too Big to Fail’ Subsidy: You Pay, They Play

Posted by Larry Doyle on March 27th, 2014 9:19 AM |

In the midst of your morning routine, you can probably lay out a number of situations in which you reach into your pocket to pay people or vendors for services/products provided. I would imagine that many reading this blog pay for a daily coffee and newspaper, perhaps a periodic shoe shine, a highway toll, or train and bus fare.

In addition to these fees, how do you feel about reaching into your pocket on a daily basis to pay a surcharge to support banking institutions on Wall Street that are deemed ‘too big to fail?’ How does that feel? Not very good, does it? I did not think so.

Yet, make no mistake, that daily banking toll you pay, and the subsidy the banks receive, are very much a reality in America circa 2014. (more…)

AG Holder Owes America Answers on Mortgage Fraud

Posted by Larry Doyle on March 18th, 2014 4:34 AM |

Are you sick of being lied to?

Seriously.

At what point do we as a nation say ENOUGH to the lies and scandalous practices within and around Washington?

I am referring to the lies — and yes, they are lies — that were put forth by the Attorney General’s office in the investigation of mortgage fraud. If you do not think Eric Holder, Lanny Breuer, and others intentionally misrepresented — er, lied — regarding the efforts of the DOJ to the American public, I beg to differ. (more…)

Simon Johnson’s Sense on Cents Classic

Posted by Larry Doyle on September 17th, 2013 9:15 AM |

On a daily basis we now get fed less than comprehensive if not fully distorted views of the last 5 years by an array of politicians, industry sponsored economists, and assorted other puppets.

While the airwaves and other outlets are filled with much of this noise, let’s take a step back so we can get the wide-angled view as to what has really transpired within our nation and the global economy. To do so, lets check in with Sense on Cents Hall of Famer Simon Johnson who provided a prescient view as to what was — and is — really going across a wide swath of our economic landscape.

In a Sense on Cents ”past is prologue” classic, Johnson wrote back in 2009 in The Atlantic:  (more…)

Moyers Interviews This Town Author Mark Leibovich

Posted by Larry Doyle on August 25th, 2013 7:09 AM |

For those who might still be wondering why America is rotting from within, please find 45 minutes to watch Bill Moyers recent interview with Mark Leibovich, author of This Town, a best selling expose of how crony capitalism has become pervasive in our nation’s capital.

After watching this clip, I think there is little doubt that people will understand how public service has become a major for profit undertaking; I think people may also feel the need to take a shower. This is truly a must view as Leibovich names names and does not pull any punches in doing so.

Washington is clearly filled with a pack of losers. But unfortunately the real losers are the American public.

Navigate accordingly.

I thank the regular reader who brought this clip to my attention.

Larry Doyle

Please pre-order a copy of my book, In Bed with Wall Street: The Conspiracy Crippling Our Global Economy, that will be published by Palgrave Macmillan on January 7, 2014.

For those reading this via a syndicated outlet or receiving it via e-mail or another delivery, please visit the blog to view this clip and comment on this piece of ‘sense on cents’.

Please subscribe to all my work via e-mail, an RSS feed, on Twitter, or Facebook.

I have no business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved. 

 

How Do China’s Seven ‘Speak-Nots’ Play in America?

Posted by Larry Doyle on July 30th, 2013 8:08 AM |

People of faith are likely very familiar with the seven deadly sins: pride, envy, gluttony, lust, anger, greed, and sloth.

I think it goes without saying that our nation would be a better place if we had less of these vices on display. That said, our greatest virtues emanate from the very freedom that allows the aforementioned vices to gain a foothold. What if we did not have our freedom, though? Then what?

To explore this question, let’s navigate to The People’s Republic of China and review a recent report from Global Post that highlights:

In a directive reportedly distributed last month to local party committees, China’s top propaganda officials issued new

restrictions banning discussion of seven topics deemed to be “dangerous Western influences.”   (more…)

Book Review: Bull by The Horns by Sheila Bair

Posted by Larry Doyle on May 24th, 2013 7:55 AM |

I am a Sheila Bair fan.

Throughout our continuing economic crisis, I have found the former chair of the FDIC to be an individual who tried to do what was right on behalf of the American people while promoting the rule of law and principles of free market capitalism. I juxtapose those strengths with practices pursued and implemented by an array of government officials, financial regulators, and their financial consorts.

I recently completed Bair’s book, Bull By The Horns: Fighting to Save Main Street from Wall Street and Wall Street from Itself, and would give it a 4+ star rating. (more…)

Income Distribution in America

Posted by Larry Doyle on March 13th, 2013 6:19 AM |

I would like to believe I am the ultimate free market capitalist. I embrace and respect those who take risk and embody the entrepreneurial spirit that is the engine of our nation.

I detest and abhor those who utilize their positions to further a spirit of crony capitalism in America. I would count many of our politicians from both sides of the aisle in this camp.

How do we advance the former group while exposing the latter? Well, that is a topic for another day.

Today let’s review a brief video (thank you to the readers who brought this to my attention) that some may like to use to advance a liberal agenda of income redistribution. I strongly believe that approach would be an enormous mistake, and merely serve to perpetuate and exacerbate our current problem with cronyism and government handouts/bailouts. Watch the video, and then I’ll make a few comments:  (more…)

Will Uncle Sam Expand “Too Big to Fail?”

Posted by Larry Doyle on February 20th, 2013 9:45 AM |

There is not even one credible individual in the world today who would believe that we do not still operate under a “too big to fail” model for our banking industry.

We now know that “too big to fail”also means “too big to regulate” and “too big to prosecute.” Free market capitalism is dying a slow and steady death in the process.

Might we ever get out from under the heavy burden of this model? We can only hope. Yet I awaken this morning and vomited my coffee as I read in the WSJ,

Should the government backstop even more of the financial system than it already does?

Sure, if you love a mix of crony capitalism and socialism, wave it in, right?  (more…)

Libor Scandal: “Companies Do NOT Commit Fraud, People Do”

Posted by Larry Doyle on February 7th, 2013 6:19 AM |

What does it mean when news that one of the world’s largest financial firms pays a $612 million fine for behaviors that clearly smack of racketeering and nobody even blinks?

I will tell you what it means. It means that free market capitalism is losing, and cronyism in the financial system is simply becoming more deeply embedded. Do you disagree? (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…)






Recent Posts


ECONOMIC ALL-STARS


Archives