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HomeSherry Hunt: A True American Hero
Posted by Larry Doyle on June 9th, 2012 9:08 AM |
“This case demonstrates that the notion that the bailed-out banks have somehow found God and have reformed their ways in the aftermath of the financial crisis is pure myth,” he says.
“Sherry is an absolutely fantastic lady who knows what she’s doing. She has a conscience. I have the highest regard for her.”
At this point in our nation’s history, America needs some real heroes.
Certainly those who had put and continue to put their lives in harm’s way for our freedom and liberty are true American heroes. What about in the world of finance, though? (more…)
Will the Federal Reserve ‘Go Nuclear?’
Posted by Larry Doyle on June 8th, 2012 9:32 AM |
Many market participants are hoping and praying that Ben Bernanke will save the day by implementing another round of quantitative easing. Having become addicted to the monetary ‘heroin’ provided by our central bank, those on Wall Street would love another ‘hit.’
Is this the right approach to curing what ails our nation’s economy? Of course not. I stated as much in a recent interview:
“The problems with the current Fed policy and fiscal programs implemented by this administration are that the MASSIVE structural issues eroding the foundation of our economy and society are not being confronted.”
So what might the Fed do? With the Fed’s ‘dope’ packing less and less of a punch, would they ‘go nuclear’? What’s that you say? (more…)
Sense on Cents Interview in The Register
Posted by Larry Doyle on June 7th, 2012 8:06 AM |
I was recently interviewed by the International Association of Registered Financial Consultants (IARFC) for its June publication of The Register.
As a taste of what I have to say in this hard hitting interview, I offer:
I strongly believe that a self-regulatory organization possessing absolute immunity but without total transparency and real independent oversight is little more than a license to steal. (more…)
The MF Global Smoking Gun?
Posted by Larry Doyle on June 6th, 2012 9:21 AM |
As with any alleged illicit financial activity, the questions beg: who knew what and when did they know it?
In regard to the MF Global debacle, we have had more of the “I did not know” and “I did not intentionally” type of statements than any of us should have to stomach.
That nonsense may suffice for compliant media and regulators, but fortunately we have others in our nation who take a harder look. Thanks to those at CFO for digging through past Congressional testimony — made under oath — and the recent trustee’s report to find what looks very much like a smoking gun. (more…)
Jon Corzine: At Best, A Negligent Nitwit
Posted by Larry Doyle on June 5th, 2012 8:18 AM |
Did Jon Corzine perpetrate a fraud at MF Global? Many believe there is sufficient evidence to pursue an indictment of Mr. Corzine and others for the demise of the firm.
The MF Global trustee’s report released yesterday falls short in providing the smoking gun with Corzine’s fingerprints. That said, Corzine should hardly rest easy as the Financial Times writes this morning, MF Global Trustee Eyes Suing Corzine:
The legal trustee overseeing MF Global’s bankruptcy has blamed Jon Corzine, the broker-dealer’s former chief executive, for ramping up risk while failing to overhaul money management systems.
James Giddens said on Monday that he would decide within 60 days whether to sue Mr Corzine, the former New Jersey governor and senator, and other former staff members at the company for “breach of fiduciary duty and negligence”. (more…)
Victor Davis Hanson on Greece, Germany, Detroit . . .
Posted by Larry Doyle on June 4th, 2012 10:09 AM |
What has really changed? Seriously.
From where we were a year, two years, four years ago, what has really changed in the fundamental outlook on our global economic landscape?
People can point to a variety of stopgap measures undertaken by governments and central bankers to stem the tide of deleveraging that dominates our global economy. However, has the psyche of people both in our own nation and others adapted appropriately? I would maintain that the psyche which brought upon our crisis has changed little and perhaps has become even more emboldened. That is not good.
To this end, rather than comment on some daily swings in the market or our economy, I want to highlight a fabulous historical comparative commentary which was shared with me by a number of readers. (more…)
