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Posts Tagged ‘Washington is broken’

Elizabeth Warren Exposes Larry Summers: The Game Is Rigged

Posted by Larry Doyle on April 30th, 2014 8:34 AM |

Why is it that our nation does not have real statesmen in public service?  Why is it that very real corruption and scandal — legal and otherwise — have gained a stranglehold on our political process? Why is it that an SEC attorney states at his retirement sendoff that “the system is broken?”

Say what you want about Senator Elizabeth Warren (D-MA), her politics, and her personal foibles, but she provides a national public service in exposing the fraud that is disguised as Washington politics in her new book, A Fighting Chance.

Credit to The New York Times’ acclaimed financial journalist Gretchen Morgenson for launching into the charades played by those in Washington who profit personally while America grows increasingly disenchanted if not totally disgusted. Senator Warren uses the same term to characterize our political process as recently used by Michael Lewis in describing our equity markets.

“The game is rigged and the American people know that. They get it right down to their toes.”  (more…)

Congress: Telemarketing Central USA

Posted by Larry Doyle on March 15th, 2014 7:05 AM |

Do you get annoyed by telemarketing calls coming into your home at all hours? Imagine, instead of a pitchman for just another product you would never need, that the individual on the other end of the line is your US Congressman. Ridiculous? Think again.

Have we sunk so low that our elected officials now spend endless hours literally ‘dialing for dollars’? Indeed they do.

Represent.Us, a grassroots organization you will hear a lot more of in the coming years, highlights a brief 3-minute clip so we can watch and learn as Lawrence Lessig, a professor at Harvard Law School and highly acclaimed political activist, spoke on just such a topic with Bill Moyers:

Larry Doyle

Please order a hard copy or Kindle version of my book, In Bed with Wall Street: The Conspiracy Crippling Our Global Economy.

For those reading this via a syndicated outlet or receiving it via e-mail or another delivery, please visit the blog to comment on this piece of ‘sense on cents.’

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The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.

Washington’s Dysfunction on Display

Posted by Larry Doyle on July 25th, 2011 7:24 AM |

Why do Americans get so fixated on the personally destructive stories of Casey Anthony, Dominique Strauss-Kahn, Anthony Weiner, and the like?

Because watching and listening to the dysfunction on display in Washington is typically too painful and too much to bear.

Although some in Washington would pass off our current debate on raising the debt ceiling as the ugly underside of the best political system in the world, I would maintain that the ugliness has gone to an entirely new level.

All Americans are suffering in the process.

Regardless of your political leanings, the style and manner in which the current political debate is playing out displays both real dysfunction and a resulting lack of credibility in the eyes of global investors. We are supposedly the leaders of the free world? Really? (more…)

S&P’s Lack of Confidence in Washington

Posted by Larry Doyle on April 18th, 2011 9:22 AM |

Standard & Poor’s decision this morning to place the credit rating of the United States on negative watch is long overdue. While the impact of S&P’s announcement is immediately reflected by a decline in the equity markets of approximately 1.5%-2.0%, the real target of this release is Washington D.C..

In layman’s terms the S&P release is voicing a lack of confidence in the credibility of both parties in Washington to deal with our financial house. We should not be surprised.

While politicians from both parties may talk a good game—especially recently—while they feed at the trough of the large monied interests emanating from Wall Street and other corporate entities, the American taxpayer has suffered from the incompetence and intransigence of Washington to deal with our LONGSTANDING fiscal issues and indebtedness. Playing shell games may fool some of the people all of the time but that gamesmanship is no way to manage a nation’s finances. (more…)

Health Care Payoffs

Posted by Larry Doyle on December 23rd, 2009 12:26 PM |

Washington may think the “payoff politics as usual” is justified under the guise of working toward goals, but I would beg to differ. In my opinion, the payoffs garnered by Senators Ben Nelson (D-NE), Chris Dodd (D-CT), and Mary Landrieu (D-LA) are emblematic of the broken political process in America.

Why is it that citizens of some states are not required to pay the same freight as citizens of all other states? Why is it that citizens of some states garner ‘special’ benefits and advantages not accorded to citizens of all other states?

I do not doubt for a second that this ‘payoff politics’ has been going on for a lot longer than we may appreciate. I would also maintain that a significant portion of our fiscal and moral deficits are generated from this very approach.

The fact that representatives hold out for these payoffs and then promote them as benefiting their states should be more widely broadcast as unpatriotic and divisive.

The fact that administrations from both sides of the aisle have chosen the ‘payoff’ style of politics is merely an indication as to the lack of character, courage, and political intellect needed to craft real legislative reforms.

When the ‘for sale’ sign is constantly out, that lowest common denominator will always be reached.

If this ‘payoff politics’ is the best America has to offer, then I am increasingly concerned that our collective future will be far less than it ought to be.

Where are the real statesmen?

LD






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