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…)
Posted by Larry Doyle on March 18th, 2009 11:22 AM |
A month or so ago, I introduced former Australian Prime Minister and Treasury Secretary Paul Keating to our readers here at Sense on Cents. Keating offered a wealth of piercing and insightful perspectives on the world of global finance. He forecasted the likely shift of global financial power toward the surplus countries in Asia. While I have never seen nor heard Keating’s views broadcast here in the United States, I appreciated his sobering analysis.
In a similar vein, Canadian Prime Minister Stephen Harper is not exactly a household name in the United States. We were provided the political strappings of President Obama’s initial foreign trip when he traveled to Ottawa to meet Harper 6 weeks ago. The pomp and circumstance along with the Royal Canadian Mounties made for some nice theatre. (more…)
Posted by Larry Doyle on March 11th, 2009 12:54 PM |
I will provide my insights and perspectives on Charlie Rose’s interview of Treasury Secretary Tim Geithner last evening. The interview has been broken down into 6 separate clips, with my commentary preceding each clip.
Part 1
In this clip, Geithner wears both the political and policy hats. While promoting the Obama agenda initially (housing, education, healthcare, energy), he then turns toward the specifics of unlocking the consumer credit securitization markets via the TALF (Term Asset Backed Securities Loan Facility). This facility attempts to restart the securitization market and model which I wrote was broken back on November 12th (The Wall Street Model Is Broken…and Won’t Soon be Fixed). That market provides approximately 40% of the financing to a wide array of consumer finance markets. Geithner attempts to portray a measure of confidence and aggressiveness. The market has currently responded with a vote of no confidence.
Posted by Larry Doyle on March 10th, 2009 11:19 AM |
I very much appreciate reading material written by people whom I perceive as having no agenda. I have tried to bring people like this (including Ray Dalio, Paul Keating, Bob Rodriguez, Steve Rehm, Kevin Doyle, Vaclav Klaus, and many others) to Sense on Cents because I firmly believe we all become more educated and informed in the process. Please let me know if and when you perceive me, any of the pieces to which I link, or radio guests on NQR’s Sense on Cents as not dealing totally in the truth. Constructive criticism is always appreciated and will make for a better site.
Along with the aformentioned, I have also previously remarked on my high regard for John Mauldin, one of our Economic All-Stars. John himself possesses an insightful global perspective and has a circle of friends and confidantes that are simply off the charts.
In John’s weekly Outside the Box, he shares with us the perceptions of Michael E. Lewitt. Mr. Lewitt writes at length on topics we have covered here previously, but his level of detail and thoughtful analysis are well worth the read.
Posted by Larry Doyle on March 9th, 2009 12:37 PM |
One of the few countries in the world to escape the worst of this economic tsunami is Australia. I introduced you to former Australian Prime Minister and Treasurer Paul Keating on February 18th in my piece entitled A Fresh and Honest Perspective. Keating was brutally honest in the video clip (thank you SR for providing it!!) included in that article .
I love an honest man!!
Former Australian Prime Minister and Treasurer Paul Keating
Well, Mr. Keating has spoken again and I am listening to him very closely as I strongly believe I am more educated and informed as a result. Our domestic officials and media outlets should take heed.
In an article published in this past Saturday’s Sydney Morning Herald, Obama’s Economic Saviour Savaged as Keating Let’s Rip. Keating offers a piercing review of then Treasury Officer Geithner’s structuring of an IMF led rescue plan of the Southeast Asian crisis in 1997-98. For those unaware, many countries in SE Asia had massive infusions of foreign capital in the form of debt to facilitate infrastructure development. Geithner and then IMF Chief Michael Camdessus structured a plan that injected $200 billion dollars in the form of IMF loans to refloat the economy. Keating maintains that Geithner and Camdessus totally misdiagnosed the problem and in turn the solution. (more…)
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A month or so ago, I introduced former Australian Prime Minister and Treasury Secretary Paul Keating to our readers here at Sense on Cents. Keating offered a wealth of piercing and insightful perspectives on the world of global finance. He forecasted the likely shift of global financial power toward the surplus countries in Asia. While I have never seen nor heard Keating’s views broadcast here in the United States, I appreciated his sobering analysis.
