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Book Review: Reckless Endangerment: A Wall Street-Washington Incestuous Legacy and A MUST READ

Posted by Larry Doyle on January 21st, 2012 3:33 PM |

Years from now when people study what led to the greatest economic crisis since the Great Depression, they will have plenty of material to review. This is good.

Unlike our current era in which we clearly failed to learn from past crises, I hope future generations will not only study what led to our current crisis but then actually do something so it is not repeated. We have yet to begin that process.

On that note, let’s start right now to save our collective future. How so?

If we are to save our future, then let’s be brutally honest about our past and our present.¬† (more…)

SEC’s Robert Khuzami: “All Individuals Will Be Held Accountable…”

Posted by Larry Doyle on December 18th, 2011 7:35 PM |

What do we think of the SEC’s attempt to pursue former Freddie and Fannie CEOs Richard Syron and Daniel Mudd?

Is this a fully legitimate pursuit of justice against these executives? Could there be more than a whiff of political motivation on the part of the current administration buried in this pursuit?

As The New York Times reports the other day, SEC Accuses Fannie and Freddie Ex-Chiefs of Deception:

On Friday, S.E.C. officials trumpeted their actions in the Fannie and Freddie case as part of a renewed effort to crack down on wrongdoing at the highest levels of Wall Street and corporate America……….. (more…)

Fannie and Freddie’s Blank Check Will Further Fuel America’s Rage

Posted by Larry Doyle on December 28th, 2009 8:38 AM |

I remain incensed at the sheer arrogance and brazen demeanor of the Obama administration providing a blank check on Christmas Eve to cover future losses of the failed institutions Fannie Mae and Freddie Mac. Given the fact that this check has been issued, America deserves to know what exactly it is covering. Over and above a full and total exposition of these government sponsored entities, America is in a position to demand certain retributions. Let’s bang the drum and demand some answers, including:

1. The current valuations of all of Freddie’s and Fannie’s holdings so America can fully evaluate those holdings relative to market prices.

2. The current fees being paid for all services rendered.

3. An independent audit.

4. Why aren’t these stocks delisted immediately? To allow stock in these entities to continue to trade is a total mockery of a legitimate market.

5. Clawback all bonus payments rendered to Franklin Raines, James Johnson, and Leland Brendsel, the executives at Fannie and Freddie who truly plundered these institutions. (more…)






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