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HomeForbes’ Emily Lambert Slams FINRA
Posted by Larry Doyle on October 21st, 2011 7:00 AM |
“Justice is truth in action.” ~ Benjamin Disraeli
Regular readers are very aware of my strong concerns about the lack of transparency emanating from Wall Street’s self-regulatory organization FINRA (Financial Industry Regulatory Authority). Having first written about FINRA in January 2009, I have highlighted my concerns extensively over the better part of the last three years. (To reference my writing, go here, Sense on Cents/FINRA).
For a period of time, I thought I was shouting into the darkness regarding FINRA. I still maintain that FINRA specifically and Wall Street regulation as a whole remain great unknowns to an overwhelming percentage of our population including those involved in the markets. To this end, I am heartened when broadly distributed public periodicals address concerns I have held about FINRA for the last few years.
The widely respected financial magazine Forbes weighs in on FINRA just yesterday. (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…)
Let’s Merge the Tea Party and Occupy Wall Street
Posted by Larry Doyle on October 17th, 2011 8:58 AM |
There is strength in numbers, right? No doubt.
There is also strength in scale, strong organization, defining one’s place in the market and then accentuating all of the above.
Thanks to a loyal reader whose recent comment prompted me to think of how and why a merger of the Tea Party and Occupy Wall Street movements should occur.
Why do mergers work? In my opinion, successful mergers accomplish the following:
1. Define a need and opportunity within the marketplace.
2. Develop a unified vision in joining forces which looks for far reaching and grand common goals.
3. Agree to make the shared sacrifice which marginalizes those inside and outside the individual units which would prefer the status quo or a variation thereof.
4. Realize that prior to winning future battles, nothing can and will be accomplished unless there is an acceptance and agreement on the points above.
Against this backdrop, why do I think those involved in both the Tea Party and Occupy Wall Street movements should merge? (more…)
‘Occupy Wall Street’ Should ‘Occupy Washington’
Posted by Larry Doyle on October 7th, 2011 11:53 AM |
Is Wall Street the center of all the problems in America?
Many of those involved in the “Occupy Wall Street’ demonstrations may think so.
I strongly believe that they are wrong.
Those with a keen ‘sense on cents‘ understand that Wall Street does embody part of our national problems. They also appreciate that the stench that overhangs Wall Street is consistent with an incestuous and far stronger odor emanating from Washington. (more…)
Navigate Accordingly Until Sense on Cents Returns
Posted by Larry Doyle on August 16th, 2011 10:20 AM |
With a number of items on my calendar over the next few weeks, I am taking a sabbatical from Sense on Cents for the balance of the month.
While I may not be providing regular commentary, I hope you may want to avail yourself of some of the fabulous resources which I have collated here.
These links are integral to our efforts to help people ‘navigate the economic landscape’. The links include the following: (more…)
August 8 Market Commentary: America’s Margin Call
Posted by Larry Doyle on August 8th, 2011 7:59 PM |
That was not a lot of fun.
The 6% selloff in the market we witnessed today is obviously tremendously unnerving.
Professional traders and active managers who monitor market moves on a minute by minute basis will have their their own opinions as to what did happen and what will happen.
For those in the audience who appreciate and embrace the true spirit of ‘sense on cents’, while we listen to the spin provided by market mavens, esteemed economists, political pundits, and Washington wizards, let us not lose sight of the real fundamental issues which remain at the core of our American foundation. (more…)
Unemployment Report August 5, 2011: Discouraging
Posted by Larry Doyle on August 5th, 2011 9:13 AM |
The big exhale you may have just heard emanating from Washington follows a slightly better than expected unemployment report this morning.
I am happy to hear that the report is slightly better than expected and will address the particulars momentarily. I caution people not to make too much of this report, though. Why?
While the report may have exceeded expectations, let’s not lose sight of the fact that the expectations were not all that high at the outset.
Additionally, this report is backward looking. What have we seen and heard from a wide array of companies recently? Indications of further layoffs.
Those with a measure of ‘sense on cents‘ do not take reports on face value. Let’s dig a little deeper. (more…)
What Caused the Market Meltdown?
Posted by Larry Doyle on August 4th, 2011 5:08 PM |
“Everybody out of the pool” and “Adult Swim Only” are phrases that ring in my ear from my trading days at Bear Stearns. A long lost friend (God bless you, buddy!!) would bellow those statements when markets plunged like today.
What has recently drained the liquidity and lowered the water level in our equity market ‘pool’?
A number of critically important factors have been building and continue to haunt us.These include:
1. Meltdown in European sovereign debt. This is not and should not be a surprise. The meltdown was merely a matter of time. The outstanding question remains the depth and breadth of the meltdown. Stay tuned as risks remain very high.
2. The dysfunction in Washington truly displayed how screwed up our political dynamic is while shedding light on the enormity of our national debt and deficit. This reality is not changing anytime soon. Stay tuned as risks remain very high.
The Recession Never Truly Ended
Posted by Larry Doyle on August 3rd, 2011 8:19 AM |
A wide array of supposedly smart people are now informing us that the economy is slowing and may slip back into recession. The new phrase being used to describe our economic condition is ‘stall speed’.
Well how about that? Stall speed, they say. Is the economy truly slowing? Is it really?
Or perhaps did the real economy, that is the one in which we live and operate—not the one fabricated by Wall Street pundits and Washington politicians—never truly rebound?
I ask because I firmly believe that our domestic economy never truly rebounded in a meaningful fashion over the last few years.
I cautioned people to avoid the regular smoke and mirrors emanating from our financial and political hotbeds in spring 2010, and have continued to caution since, when I first equated our economic malady as akin to “walking pneumonia“.>>>>>>>> (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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