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Posts Tagged ‘crony corruption’

Bill Isaac Embraces The Rule of Law

Posted by Larry Doyle on July 7th, 2014 10:12 AM |

The overarching theme both at this blog and in my book is the need for our nation to embrace the rule of law as the prerequisite to healing our economy and leading to better days ahead.

Flouting the rule of law is regrettably an all too common pursuit by those engaged in crony and corrupt practices. Our nation suffers badly as a result.

While all too many politicians from both sides of the aisle spout forth messages that do little more than distract, the future of our country depends on finding new leaders who care nothing for cronyism and embrace the rule of law. I personally believe that in the recent Republican House race in Virginia Dave Brat slaughtered former House Speaker Eric Cantor with this very approach.

I will keep the commentary brief today but a smile crossed my lips this morning as I read an editorial in today’s Wall Street Journal by a Sense on Cents favorite Bill Isaac. This former chair of the FDIC wrote about the manner in which Uncle Sam has abused the rule of law in the process of managing our nation’s housing finance behemoths that go by the name of Fannie and Freddie. (more…)

Sense on Cents Index of Cronyism and Corruption

Posted by Larry Doyle on June 13th, 2014 9:22 AM |

Those engaged in cronyism and corruption much prefer to operate under a cover of darkness. When transgressions due occur, those caught in the web of such practices typically like to pay a fine and quickly move on.

Given the preponderance of these practices in our current economy, I think it is a good idea that, rather than addressing cases on an individual basis, we compile an index of those involved. In doing so, we can then reflect back on them and gain a fuller appreciation for how widespread and destructive this cronyism and corruption is within our nation.

With no further adieu, I kick off the Sense on Cents Index of Cronyism and Corruption:

VA Scandal: Uncle Sam Wants Names of VA Whistleblowers; POGO Protects Identities: (June 16, 2014)

The IRS Scandal: “That’s a Lie; (June 14, 2014)

Today’s FT highlights (June 12, 2014):  “Goldman Sachs and Bain Capital paid $121m to settle a lawsuit alleging they conspired with other private equity firms to fix the price of some of the biggest ever leveraged buyouts.  (more…)

Gary Aguirre at Notre Dame Details SEC Corruption

Posted by Larry Doyle on January 16th, 2014 8:29 AM |

Instead of wasting three hours watching The Wolf of Wall Street, I have a much better video for you to view — and in less than half the time. Much better.

If  you really want to know what our financial regulators were doing while the destructive behaviors on Wall Street brought down our markets and our nation’s economy, find 80 minutes to watch remarks delivered recently by former SEC attorney and noted whistleblower Gary Aguirre at the University of Notre Dame. Aguirre’s remarks put a whole new spin on the moniker, Fightin’ Irish. Major props to those at ND for giving Aguirre the forum to speak and spread the truth. Other colleges and universities should be so courageous.

Gary Aguirre is a true American hero. If you cannot watch this video today, come back to it over the weekend. After you watch the clip, I guarantee you will want to share it with your friends and colleagues so they can understand how cronyism and corruption within the financial regulatory system has eroded the sense of trust and confidence that currently permeates our nation. You really need to watch this.

Navigate accordingly.

Larry Doyle

Please order a copy of my book, In Bed with Wall Street: The Conspiracy Crippling Our Global Economy.

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

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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.






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