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HomeOlympus “Tobashi” Scandal: The Whistleblower Talks
Posted by Larry Doyle on December 5th, 2012 9:07 AM |
The Wall Street Journal reported a year ago tomorrow that an independent panel investigating the accounting scandal at Olympus, the Japanese maker of cameras and medical imaging equipment, announced that the company had hidden losses of more than $1.5 billion over an extended period.
What was going on in this Japanese version of Enron? A practice known as tobashi, that is, a transferal of assets so as to conceal losses. Sounds very Enron-like. Who was involved and how did this persist for so long? (more…)
Let’s Merge the Tea Party and OWS: Part II
Posted by Larry Doyle on October 18th, 2011 5:11 PM |
Should the Tea Party and Occupy Wall Street try to join forces under the auspices that they have much more in common from a macro standpoint than what may differentiate them from a micro standpoint?
I would love to see these movements join together. I think a merger of these forces could lead to the third party our country so badly needs.
Comments left on my post yesterday, Let’s Merge the Tea Party and Occupy Wall Street, covered a wide scope of thoughts and opinions. I appreciated the range of views and personal experience with OWS shared by readers. I understand that a merged entity would certainly not fit easily into any sort of politically defined group as we have come to expect.
Isn’t that the point? Haven’t we allowed ourselves to be defined by the media and the political establishment? Isn’t it time that those who aspire for an unfiltered access to the truth turn the tables on the power bases in Washington, New York, and elsewhere? (more…)
Stifling the Truth Is Abuse of Capitalism
Posted by Larry Doyle on October 6th, 2011 10:39 AM |
Information is everything.
Access to information combined with fair and open markets are cornerstones of our free market capitalist system. With our economy continuing to lag, I have witnessed an increase in the stifling of the truth.
Without the truth, how can our economy and our markets recover from the fundamentally broken state in which they currently operate?
I am not so naive to think that there have not been forces at work for a protracted period which profit from intentional obfuscation of economic and market related information. I also would never denigrate the many great people in our nation who play by the rules and understand how to navigate the pitfalls and shortcomings within fundamentally broken markets.
Auction-Rate Securities Update: Discovery in Merrill/Maui Case is Explosive!!
Posted by Larry Doyle on August 2nd, 2011 8:17 AM |
Information is everything. The appropriate use of information can be particularly powerful if not explosive.
Whether in the canyons of Wall Street, the halls of Capitol Hill, or in the most distant regions of our great nation, the value and use of timely information is critical in determining the truth as to 1. what did people know 2. when did they know it, and 3. what did they do with it?
The legal process known as discovery is critical to elevating our Sense on Cents virtues of truth, transparency, and integrity. What is discovery? (more…)
More Things Change, More They Stay the Same
Posted by Larry Doyle on September 7th, 2011 11:05 AM |
Having traversed a wide part of the country over the last three weeks, I would have hoped that my first post back here at Sense on Cents would encompass a sense of vim and vigor that may electrify those reading this.
Sorry to disappoint but the simple fact is the recent developments along our economic and market landscape do not strike me as energizing or as anything new.
The daily swings in the markets may be unnerving but they strike me as merely a reflection of the fact that the “walking pneumonia” which defines our domestic economy—and many parts of the global economy as well—is settling ever deeper into our lungs. (more…)
Tags: did Wall Street violate the racketeering act, economic and market updates september 2011, Federal Reserve policy of the twist, jimmy hoffa barack obama promoting class warfare, jimmy hoffa labor day comments, mortgage suit against banks, pursuit of the truth, Sense on Cents, the more things change the more they stay the same, what is new with the economy september 2011
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