Posts Tagged ‘Martin Feldstein’
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 July 9th, 2009 3:59 PM |
Is our economy so weak that we will need another Stimulus Package? In my opinion, the American public has become so numbed by the depth and breadth of the government bailouts and fiscal follies as to not fully appreciate their overall magnitude.
Let us not forget that in current dollars the initial Stimulus Package passed under the Obama administration was only exceeded by Uncle Sam’s funding of World War II. The development of the interstate highway system under the Eisenhower administration was of comparable size to this initial Stimulus. For those who care to compare and contrast the size and scope of federal programs over the years, I submit from the January 6, 2009 edition of the Wall Street Journal “Feel Like a Trillion Bucks”.
While politicians and bankers receiving federal bailouts throw “OUR” money around liberally, let us hold them to account. On that note, let’s revisit commentary from noted Harvard economist Martin Feldstein just prior to the passage of the initial Stimulus.
I resubmit “An $800 Billion Mistake.”
LD
Tags: "AN $800 Billion Mistake", Feel Like a Trillion Bucks, how effective was stimulus plan, Martin Feldstein, Martin feldstein wrote, need for another stimulus package, Stimulus Plan
Posted in General, Stimulus Plan | No Comments »
Posted by Larry Doyle on April 20th, 2009 5:30 AM |
As I referenced on my radio show last evening (note: you can listen to an audio recording of the show from the BlogTalkRadio player in the right sidebar), China’s economy is benefitting from economic stimulus enacted by its government. Well, the U.S. government also enacted a major Stimulus Package in early February. How is our package doing? Is it impacting the economy? Our economy certainly does not seem to be benefitting significantly from any government stimulus.
I wrote on February 7th that Martin Feldstein, renowned Harvard economist who sits on Obama’s Economic Recovery Advisory Board, called the Stimulus Package An $800 Billion Mistake.
Feldstein’s concerns about the Stimulus as reported by the Washington Post, focused on several items:
1. On the spending side, the stimulus package is full of well-intended items that, unfortunately, are not likely to do much for employment.
2. The largest proposed outlays amount to just writing unrestricted checks to state governments.
3. The plan to finance health insurance premiums for the unemployed would actually increase unemployment by giving employers an incentive to lay off workers rather than pay health premiums during a time of weak demand.
4. A large fraction of the stimulus proposal is devoted to infrastructure projects that will spend out very slowly, not with the speed needed to help the economy in 2009 and 2010.
5. The problem with the current stimulus plan is not that it is too big but that it delivers too little extra employment and income for such a large fiscal deficit.
Let’s see how business executives view the rollout of the Stimulus Package. Would they agree or disagree with Feldstein’s concerns? (more…)
Tags: $800 Billion Mistake, benefits of stimulus package, capital spending of Stimulus Package, China's economy, Harry Reid, impact on health insurance premiums of stimulus package, impact on infrastructure projects by Stimulus package, lack of clarity on Stimulus, Martin Feldstein, Nancy Pelosi, Stimulus Package
Posted in General, Stimulus Plan, Stimulus Tax Package | No Comments »
Posted by Larry Doyle on March 10th, 2009 2:37 PM |
The stock markets are having a very robust, broad based rally today. All major market averages are up almost 5% or better. Gold is down approximately 3%. Foreign stock markets also had significant rallies. Can we put this pain behind us? Is it finally over?
In dealing with markets and the economy, it is never over. The critical, mental acuity in dealing with the markets and economy is understanding the dynamics at work and the associated risks. Along with a host of other goals, I firmly hope that my work here at Sense on Cents is able to help people understand those dynamics and the accompanying risks. It is a process, but I will keep after it and I hope you find it enlightening and informative. If so, please comment and share Sense on Cents with your friends. (In fact, you can share this piece, and any other piece here at S o C by using the “ShareThis” link underneath the title line of each story). Let’s assess today’s market action. (more…)
Tags: day trading, earnings, Economy, EU, foreign stock markets, global economy, gold, government bonds, housing, Martin Feldstein, rallying market, Risk, Sense on Cents, Unemployment, Vikram Pandit
Posted in American Consumers, Business, Citigroup, Commerce, Credit Risk, Economic Stimulus, Economy, Employment, Equity Markets, European Union, Global Finance, Housing Crisis, Insurance Industry, Real Estate, Risk, S&P 500, Stimulus Tax Package, Wall Street | 8 Comments »
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