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What People Are Saying About Sense On Cents

What People Are Saying . . .

Larry has been a fearless critic of the incestuous relationship between Washington and Wall Street, and a tireless advocate on behalf of defrauded investors. Sense on Cents is an invaluable resource for anyone who cares about the integrity and transparency of our financial regulatory system.

Danielle Brian
Executive Director
Project on Government Oversight

I believe it was Abraham Lincoln who said, “There is no more difficult a place to find an honest man than on Wall Street in New York City.”

If Lincoln was alive today, Larry Doyle is one of the few honest men he would find on Wall Street. What makes Larry especially unique is that he persists in exposing the dishonesty and corruption which predominates Wall Street and those entrusted to regulate it.

If America is to ever have true financial reform, we need more men and women with the moral courage to expose Wall Street fraud as Larry does with Sense on Cents.

Mark Mensack
Managing Director/Chief Ethics Officer
Piedmont Investment Advisors


“When I think of Larry Doyle, one word comes to mind: courage. His online blog, Sense on Cents, rises fearlessly above Wall Street’s greed, hype and obfuscation.

Since 2009, he has exercised his insider expertise to speak truth to “power” and bring the message home to his many readers. Like a modern day forensic detective, Doyle deals in raw, transparent truth–the real stories behind the scams, counter scams and dodges that prey upon our economy.

He was one of the very first to attack the $300 billion auction-rate securities con, and his take-no-prisoners style has exposed an incestuous Wall Street-Washington cabal. Doyle is the ultimate truth-teller, giving his followers the real deal behind the dangerous “inside job” which threatens to buy our government and, by extension, control of our democratic way of life.”

~Phil Trupp, author of Ruthless: How Enraged Investors Reclaimed Their Investments and Beat Wall Street


I’ve spent 15 years focusing my practice on government liability of various types. During that time, I have seen lawsuits and media coverage change policies, defeat bad law and vindicate the wrongly accused.

Your work matters.

Cary J. Hansel
Joseph, Greenwald, & Laake, P.A.
Greenbelt, Maryland 


Sense on Cents provides an enormous public service. It translates and interprets events about the financial world that would otherwise fall below the radar in a manner that educates the men and women in the street — and gets them stirred up.  Larry’s trenchant writing reflects long first hand experience of finance, an original mind, and real outrage.”

Amar Bhide
Thomas Schmidheiny Professor
Fletcher School of Law and Diplomacy
Tufts University


Thanks, Larry.

We’ve learned so much about FINRA from your work over the years – keep it up!

Michael Smallberg
Project on Government Oversight


You’re the conscience of the Street.

Jim Campbell
Host of “Business Talk with Jim Campbell”
Syndicated nationally on the Business Talk Radio Network

I found the Sense on Cents website shortly after finding out that Bernard Madoff ran a Ponzi scheme.

My life savings were invested with him and I was in the fact-finding stage to see what course of action I might take. Larry Doyle’s website and his timely information were extremely helpful to me.

I contacted Larry directly in hopes of having Sense on Cents cover pertinent details of the fraud in order that all Madoff investors and all American investors could learn of the failures of our regulators to protect them.

Larry’s contacts and his ideas were extremely beneficial in the victims’ fight for justice.

I am an avid follower of Sense on Cents and hope that someday Larry will be able to dedicate a column to the successful victory of the Madoff victims.

Ronnie Sue Ambrosino
Madoff Victims Coalition


Sense on Cents and its founder tell us exactly what the barebones truth is on Wall Street–especially when we can’t believe it. His work on the post-Madoff watered-down financial reforms and behind-the-scenes at regulators like FINRA and the SEC is priceless.”

Erin Arvedlund
Barron’s, contributing editor



Thank you for writing about my case. I really did learn that doing the right thing can be hard.

Kind regards,

David P. Weber
former Assistant Inspector General of the SEC who became a whistleblower, brought a suit against the commission, and was awarded a $580,000 settlement.


Sense on Cents is a rarity in the blogosphere.

Written by Larry Doyle, an experienced Wall Street veteran, Sense on Cents tells it like it is. Larry translates the financial Latin that many large Wall Street firms use to try to support their conflicted positions and breaks it down for the average investor to understand.

He takes no prisoners and is not afraid to call someone out when necessary, even some of the regulators. Larry also is quick to shower praise on those trying to help make a difference. We are lucky to have a site like Sense on Cents that is looking out for the average investor.”

Joe Saluzzi
Co-Founder, Themis Trading LLC


“A no-nonsense financial site that isn’t afraid to tell things as they are.”

Grace Cheng


Larry Doyle’s Sense on Cents combines deep insights and broad knowledge of finance gained through years on Wall Street  with an old fashioned common sense notion– honesty is the best policy.  Without being a sanctimonious moralizer, he understands that fair markets go  hand-in-hand with prosperity  and that rigged games corrode trust.

For markets, character becomes destiny.

He understands the dangers when Wall Street subverts government policy as has occurred in recent times.  Sense on Cents is truly an informative beacon.

Jonathan W. Cuneo, Esq.
Cuneo Gilbert  & LaDuca, LLP 


There are many reasons I read Sense on Cents. I learn from Larry Doyle’s financial experience; I get new perspectives on the larger reasons for market changes. But most importantly is Doyle’s strong ethical stance. He knows that individual investors have been abused badly in the last several years and he is committed to telling the truth.

He is the one of the few market experts standing up for me.

Kathy Kane
longtime reader


Larry Doyle has been a breath of fresh air in a very polluted financial news environment. He has a unique talent for pinpointing areas of corruption for some reason the main stream media seems to ignore. When Larry sinks his teeth into a situation he becomes a tireless advocate for the defenseless investor.

For example the $330 billion misrepresentation of Auction Rate Securities by the entire financial industry. While the main stream media largely ignored this travesty Larry refused to let it be swept under the carpet. Larry’s consistent reporting on Auction Rate Securities exposed how truly unprotected the average investor is.

He brought to light the questionable behavior of the government departments that are supposed to be protecting the investor. As in the sale of some $650 million worth of auction rate securities, from FINRA’s investment portfolio, right before the market collapsed by Mary Schapiro when she was the head of FINRA.

Also the favorable settlement the New York State Attorneys General Office made on behalf of Oppenheimer leaving New York State residents wondering who represented them at these negotiations. The mainstream media did not deem these stories newsworthy.

If there were more reporters out there with Larry’s backbone maybe we would not need so much regulation. Maybe investor confidence would return if they knew the media would do their job and report the misbehavior of the financial industry like Sense on Cents does.

Thanks Larry!!

Ed Dowling
longtime reader

Larry Doyle gets it.

His words hit at the very heart of what so many other people are just thinking. Larry has an uncanny knack to peal away the layers of noise and convey the true meaning of the issues.

With his straightforward, no nonsense way of delivering his message, it is easy for one to become a regular reader. His many years of Wall Street experience, gaining knowledge and understanding from the inside, allows LD to tell it like it is often exposing the true ugliness of the underbelly of the beast.

Doyle’s words resonate. I can honestly say that since I became a subscriber, I have not missed one day of reading Sense on Cents.

James N. Hill
longtime reader


“I want to commend my longtime friend, Larry Doyle, for creating a conscience where few people dare to tread. Having known Larry from our days at Bear Stearns, I can vouch for his forthrightness in his business dealings. Running a very important segment of a Mortgage Backed Securities dominant firm created much temptation to step on the “little guy” but from day one, Larry was always fair, no matter who was his counterpart. This life philosophy continued throughout his life and is evident in his blog, Sense on Cents.

The “little guy” has a rising voice in this vehicle because its author believes in him. Larry is out there creating a platform for fairness. My kudos goes out to a masterful communicator.”

Keep it coming!!

Rudy Betancourt
former colleague at Bear Stearns


“Larry built his strong reputation on hard work and integrity during his many years in the business. He is an advocate of the investor and a proponent of transparency. It is refreshing to read Larry’s commentary and learn from his experience and insight on a broad range of issues that have plagued Wall Street over the last couple of years.”

Kevin O’ Connor
Point Capital Markets
former colleague at JP Morgan  


At a time when many Americans are concerned about the lack of integrity and transparency in our financial markets, Sense on Cents challenges the Powers that Be to “do the right thing when nobody is watching”, and to be accountable for their actions.

Sense on Cents is a breath of fresh air in an environment that sometimes leaves you breathless, and Larry Doyle gives hope to those of us that have all but given up on the current state of our financial markets.

Stay the course, Larry.

Dave G.
former colleague at First Boston 
Newport Beach


“Whose blog are you reading? If you are not reading Larry Doyle’s Sense on Cents blog, then you are missing out on the inner workings of Wall Street’s political power and influence.

Larry, a former Wall Street industry veteran, has no conflicts of interests in his writings. He writes for the love of telling the undiscovered truth to investors and industry veterans alike.

Larry’s connections and influence routinely attract top talent, insiders and consumer advocates for interviews on his blog, Sense on Cents. If you want to stay abreast of the economic and political underpinnings of American capitalism, then put Larry’s blog on your reading list.”

Rick Johnson
Rick Johnson Family Office, LLC
Author of:
Keep Your Assets. Take My Advice. ™


“Larry Doyle spent decades as a Wall Street insider, and now he has a new, and more important, calling: making the Byzantine world of big money understandable, and the arcane accessible.

He’s a voice of reason and clarity, of humor and morality, and if you care about bringing transparency to this dollar-driven world we live in, you owe it to yourself to become a regular reader of Larry’s Sense on Cents.”

–Wayne Coffey,
New York Daily News (reporter who broke the story about former SEC general counsel David Becker being a Madoff investor and was part of the Daily News’ award winning coverage of the impact of the Madoff scandal on the New York Mets)


Sense on Cents pulls no punches in language that most news media and blogs would never sanction, Larry Doyle calls a spade a spade, whether it be calling the head of the SEC what she is or identifying the miscreants on Wall Street for what they are.

If only the media pundits would be so blunt and be as similarly unafraid of losing their “access,” we would have more speaking “truth to power” as Larry is so notorious for doing.”

Richard D. Greenfield
Greenfield & Goodman, LLC

Sense on Cents is timely, well-written, and, best of all, does not pull punches. Other financial blogs and mags seem watered down in comparison. When I want to know what’s really going on, Sense on Cents is my go-to site.”

David Wurth
longtime reader


Larry’s “Sense” is that he zeros right in on our economic problems and the malefactors, and suggests valuable sources of additional information.  He is steadfast in pointing out the most logical solutions, those often unpopular with politicians and regulators.

Edwin P. Morrow

Chairman & CEO of International Association of Registered Financial Consultants (IARFC)
Middletown, Ohio


Sense on Cents: important, honest, incisive.

Barbara Ann Radnofsky
“Best Lawyers in America”
Democratic nominee to U. S. Senate from Texas in 2006


Larry Doyle’s Sense on Cents fills a need missing on Wall Street. Daily commentary that provides critical and honest assessment of Wall Street business practices and the impact of those practices on all Americans.

John Reim
Morgan Stanley Smith Barney 

I make it a point to read Sense on Cents regularly.

Larry Doyle not only offers incisive commentary on financial events but also original information.  An example is his forensic accounting work examining FINRA’s online financial statements from which he ascertained that FINRA disposed of almost $700 million of auction rate securities (ARS) in 2007 before the market for same completely collapsed in February, 2008, freezing $330 billion of investors’ supposedly cash accounts.  FINRA owned hundreds of millions of dollars of ARS for years but suddenly saw fit to clear the books in what can only be described as either a case of remarkably prescient market timing or insider trading on a massive scale by a purported securities regulatory organization.

Larry has continued to demand an explanation from FINRA for the motivation of this sale, which to date has yielded only silence.

Unless you found yourself caught in the Wall Street engineered ARS meat grinder, as I was, the significance may not register.  However, even if you weren’t, had you been reading Sense on Cents, you would be up to speed on a fraud that dwarfed Madoff but in which nobody has gone to jail.

William E. Benton
A regular reader

In the public venue whether it is the media or the blogosphere it is rarified air to find a single honest and relevant voice.  No matter where you gather your info it is tainted. Tainted by political bias or commercial self interest.  It is so prevalent that today’s society accepts it as normal and ridicules anyone who thinks it should be different as naive.

Larry Doyle of Sense on Cents stands almost alone in providing unbiased reporting on the financial, and by default of it’s unholy alliance with the former, political culture we live in.

Like a tiny plant growing from the soil underneath a fractured concrete slab the Sense on Cents blog takes on all comers and praises truth seekers from both parties as well as independents if their cause is true, breaking boundaries in honest coverage that literally cannot be found anywhere else.

Larrys blog should be required reading for anyone concerned about what is left of Americas democracy. If a cultured society like Germany could be manipulated into embracing a dark path then it too can happen here.

Sense on Cents represents that final barrier to those that choose power over truth.

“When power corrupts, poetry cleanses.” –JFK

Jay Edward Haley
Wells Fargo Advisors


Don’t let the outsider’s perspective fool you. Larry Doyle is a 28-year veteran of finance. You can count on his blog, Sense on Cents, to reveal how Wall Street really works behind the scenes.

Norb Vonnegut
Wall Street veteran
Author, The Gods of Greenwich; Top Producer


Larry Doyle gets it.

I have been an avid reader and big fan of Sense on Cents and Larry since January 2010. Larry has the ability to take complex issues and break them down so that his reader, whether seasoned Wall Street veteran or student can digest and contemplate a view outside the mainstream media.

Sense on Cents is never short of relevant subject matter to undress whether it be social, economic or political.  Sense on Cents contains a wealth of information and provocative commentary that serves as a learning tool for the general public.

Sense on Cents is a medium that exposes issues that mainstream media refuses to address. It is a medium that average folks can go –  to educate themselves and ask questions within the Sense on Cents community.

In this day of “corporate speak” Larry gets it and is not shy about telling it like it is.  Larry’s sense of moral compass and dedication to Sense on Cents has and will continue to expand his already loyal reader base.

Thank you Larry and Sense on Cents for keeping us informed.  I am confident that Sense on Cents will become required reading for politicians and regulators (as if they are not already peeking and sweating already).

Let’s expand this community of like minded people and maybe just maybe we can one day endorse candidates for political office on the Sense on Cents platform. That would be refreshing.

Peter Sivere
Wall Street veteran


Larry Doyle’s Sense on Cents leverages Larry’s extensive experience in the financial markets to provide a thoughtful, well-reasoned and informed viewpoint on relevant issues.

E. Neill Jordan, CFA
VP – Fixed Income
Knights of Columbus
New Haven, Connecticut


When I worked with Larry at Bear Stearns in the mid 90’s it was clear that he was a disciplined trader who came to work each day with his sleeves rolled up. Everything and everyone was important and shortcuts were not tolerated. I am so glad that he has not changed a bit.

Pat Johnston
former colleague at Bear Stearns


Larry Doyle is a 25 year veteran of Wall Street. His career included stints at major investment banking firms. When Larry decided to withdraw from the sturm and drang of daily toil on Wall Street, he founded Sense on Cents. It is Larry’s brutally candid commentary on current events in the financial community.

Larry’s commentaries are noteworthy because he writes as one who “has been there and done that”. Larry’s experience and contacts allow him to describe events for lay people with the sophistication of a Wall Street veteran. Another of Larry’s attributes is his tenacity. He will pursue facts and demand fair dealing long after most journalists have moved on to “new” subjects.

As a veteran of 45 years in the financial community, I attest to the value of Larry’s work at Sense on Cents.

L. George Rieger 
Greenwich Investment Management


“I find Larry Doyle’s writings to be honest, well researched, documented and fair. He brings much needed candor and integrity to the public discourse on economic matters that are important to us all. The current economic climate threatens our well being like never before.

Mr. Doyle has my unwavering support if he enters politics but until then, I will continue to rely on his experienced pen for insight and opinions on a daily basis.”

Randolph Emerson
Avid reader of Sense on Cents


It’s refreshing to have a journalist write/comment in a field they are an expert in. Larry Doyle not only had a very successful career on “The Street” but has now directed that experience and knowledge straight down the barrel of the Internet via his factual and refreshing daily for us all to gain from. His weapons grade information, intuition & common sense writing style is direct, quick and always on point.

It’s at the top of my daily updates and very appreciated by many to whom I’ve forwarded it to.

Good job!!

Jim Sherman
Managing Director/retired


This note wishes to give the highest respect and recognition of the integrity, honesty, and forthrightness promulgated by Larry Doyle’s “Sense on Cents” financial blog.

Larry Doyle is a champion and articulate speaker for the “little guy”. He tirelessly seeks out the truth, or in most cases the outright fraud, ( witness numerous big name brokerages). He calls out the misdeeds of the financial industry on Wall Street and the so-called inept regulators, especially FINRA, in the United States. In my mind he is a hero.

When the financial world started to blow up in late 2008 the sellers of fraud and nondisclosure of risks in “Financial Investment Products” started to run for cover. Larry Doyle was one of the very first “bloggers” to expose the deceit and criminal behavior of these white collar thieves. He still is to this day in March 2012 exposing the misdeeds still undone, and wrongs still not righted!

Larry and his blog was/is one of but a handful of individuals and a very few State Attorney Generals offices who attempted to assist the “little investors” who were defrauded and pursued the wrongdoers.

I might add he was not seeking financial gain for himself, but in my opinion sincerely used his forum to help make public the failure of regulation and oversight in the securities industry. He shed light on the crooks who effectively stole hard earned money from their clients.

I write this from the perspective of being a victim myself of the Auction Rate Security scandal. In early 2009 Larry was the first to listen to my plight, and I believe in great measure was responsible for a handful of politicians and State Regulators to finally take notice. Larry and his forum gave those of us who were victims in this fraud an outlet and a “safety valve” to vent and share ideas as well as exploring possible solutions. If nothing else he probably kept thousands of affected investors sane and inspired us to keep up the fight.  He gave us strength in numbers.

I had to fight hard myself and endured extreme intimidation and outright threats from one of these Wall Street Robber Barons. Larry recognized this and thus credibility was obtained by a few individual State Attorney General Offices.

I can attest to personal communication with Mr. Doyle and could enumerate in many ways how he assisted me and others. I continue to read his site. Sense on Cents is comprehensive and timely as well as educational. I would suggest it be required reading in any University M.B.A. program.

I believe without his exposure many settlements would have not occurred and FINRA may have totally ignored their problems and the prejudice against the retail investor.

Larry Doyle and his “Sense on Cents” has the heart of a modern day Viking, “boldly going where no other financial blogger has gone before”!

Signed ( Wax Seal ),
by my word an anonymous former ARPS victim

I check out Larry’s writings every day. Larry Doyle is not for sale and has unshakable ethics in a world where promises and contracts have less meaning. Thank God we have Larry. We need more people like him.

Bill Coppedge
SMD Fay Financial
former colleague at Bank of America


“Larry’s blog is always a great and inspiring read.”

Rolf Benders
U.S. Correspondent 
Germany’s Business and Financial Daily


I came upon a web site Sense on Cents by chance about two years ago. I found the articles interesting and the writer quite knowledgeable, so much so, that I was compelled to reach out to him personally. Having the privilege to actually speak with the author was an enlightening experience and I have been a fan of Sense on Cents ever since.

Mr. Doyle is not only knowledgeable about what he writes, he is able to present his strong opinions without offending others, and is open to debate.

One other aspect of this website that impresses me is the audience. Based on the comments, and there are many, the people reading are extremely interested in these topics, also knowledgeable, and quite dignified. It is a rare occasion that a distasteful comment is posted, and Mr. Doyle gracefully addresses those.

Mr. Doyle seems to be able to hone in on what is important to his viewers and touch on topics they may not have been aware of. I consider myself privileged to have watched this website evolve. I would be a fan of whatever Larry Doyle writes.

Industry Insider and Longtime Reader


I haven’t had an opportunity to speak with you, but I do want you to know that I, and our many members appreciate the consistent support you have given for legislation that would enhance protection for investors.

It is particularly satisfying to see a fellow member of the financial community not only sensitive to the needs of and challenges for investors, but someone capable of pursuing and effectively communicating to others. I find your blogs and articles well written, accurate, and impactful.

As you may know, the markup of this bill – which we worked closely with Chairman Garrett’s office to create — has been postponed. There are several reasons why, which I can elaborate on further another time. What is more important is that this bill, or some version of it will be reintroduced early in the next session, less constrained by a tiny time frame to work within, and giving us ample time to develop the broad support needed to provide for smoother sailing and a greater chance of passage in Congress.

So on behalf of our over 1200 members – most of them Madoff victims — and investors everywhere, I say “thank you”, and please continue the very fine work.

Ron Stein
Chairman/Network for Investor Action and Protection  
August 1, 2012  

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