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Posts Tagged ‘financial reform’

Will It Take Another Crisis for Real Reform?

Posted by Larry Doyle on July 9th, 2014 9:59 AM |

“Our current cronyism is not the property of one political party or the other. As with any cancer, it does not care who it attacks or where it spreads. In the process of unearthing and exposing these crony Wall Street- Washington paths, we have come to learn that large numbers from both political parties, their well-heeled financial benefactors, and many of our financial regulators, all sit on one side of the table while the general investing, consuming, and taxpaying public — along with a large percentage of Wall Street’s own employees — sit on the other.”

page 187, In Bed with Wall Street: The Conspiracy Crippling Our Global Economy

A full 6 years from the onset of our ongoing economic crisis, I remain convinced that our nation’s markets and economy remain burdened by the cancer that metatstatized from the corrupt Wall Street-Washington dynamic.

I stated as much in my book as quoted above.

Many have asked me if the current crisis was not enough to excise this cancer what might it take. Another crisis?  (more…)

Global Financial System: Dangerous and Dysfunctional

Posted by Larry Doyle on September 20th, 2013 8:55 AM |

I truly appreciate reading the work and gaining the wisdom of those with informed insights and opinions.

Where do I always find people of this ilk? At one of my favorite stops while navigating the economic landscape:  Project Syndicate.

While various and sundry lapdogs from both sides of the political aisle and others well-schooled in the inner workings of the Wall Street-Washington incestuous thoroughfare are touting how our financial system has been reformed, let’s go down a less traveled path and see what a noted observer has to say on this topic.  (more…)

UK Leads, USA Follows: Changing Banking for Good

Posted by Larry Doyle on June 19th, 2013 8:10 AM |

At one point in time, the USA may have been viewed as the preeminent world leader on major financial issues.

While many arrogant bankers, regulators, and political leaders here in the USA might care to continue to believe they hold that leadership position, I think most who might read this blog know that those days have passed.

Dodd-Frank reformed our financial system? Really? Then why is it that bankers from Citigroup are virtually writing entire new legislation under the heretofore now designated Fraud-Dank umbrella?

If we care for a more honest assessment of the comparably incestuous, crony, corruptible dynamic at play within these parts, let’s redirect our focus across the pond. (more…)

Sachs Unloads Again on Wall St-Washington Incest

Posted by Larry Doyle on May 1st, 2013 7:35 AM |

A few days ago Columbia University’s Jeff Sachs delivered a diatribe on the crony corruption pervasive in the Wall Street – Washington dynamic to a cadre of elites in attendance at a Philadelphia Federal Reserve symposium.

Well, yesterday Sachs took his message to the masses in the midst of an exchange on MSNBC’s Morning Joe.

Selected other liberal contributors to this exchange seemed to me to be almost embarrassed by the beating Sachs put on the “bought and paid for” crowd atop Capitol Hill and others residing and working at 1600 Pennsylvania Avenue.

Grab a second cup of coffee and watch this clip from the 3:30 mark. It will only take you 8 minutes and it is well worth it.   (more…)

Consumer Protection or Big Brother is Watching

Posted by Larry Doyle on May 26th, 2010 11:30 AM |

I am all for financial regulatory reform, but as I wrote the other day I do not trust Washington. I witness further reason not to trust the wizards in Washington after reviewing a gem buried in the Senate’s version of financial regulatory reform.

You likely will not see this in the mainstream media, but thanks to CNS News for reporting Senate Democrats Pass Bill Allowing Government to Collect Addresses, ATM Records of Bank Customers:

Senate Democrats united to pass a financial regulatory bill that allows the government to collect data on any person operating in financial markets at any level, including the collection of personal transaction records from local banks that list customers’ addresses and ATM receipts. (more…)






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