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HomeDetroit Councilwoman Wants Obama-Money
Posted by Larry Doyle on December 5th, 2012 10:23 AM |
The political game of “quid pro quo”, another version of “payola”, used to have a degree of discretion. No longer.
In a bold and blatant message provided by Detroit City Council member JoAnn Watson, the racket of political payoff comes out of the backroom for all the world to see. Is this what the future of America looks like? The misguided and ill-conceived policies of ineffective politicians and their cronies take their case to Washington for a bailout from their friends in high places.
Many of our forefathers are certainly rolling over in their graves this morning. The clip only runs 55 seconds. I hope the impact on you lasts a lot longer than that. (more…)
Olympus “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…)
MF Global: Spreading the Blame Around
Posted by Larry Doyle on December 4th, 2012 9:46 AM |
I have tarred and feathered Jon Corzine sufficiently over the course of the last year for the debacle that unfolded on his watch at MF Global.
On that note, I welcome reading this morning that some tar and feathers are being applied to others who should have been in a position to stop the excessive leverage which brought down the MF Global house.
Who were these other individuals and entities? Let’s navigate as The Hill addresses a topic which many in Washington and on Wall Street would like to keep conveniently under the rug. (more…)
Mary Schapiro’s Concern with Her Legacy
Posted by Larry Doyle on December 3rd, 2012 8:19 AM |
Why is it that America suffers from a very real lack of leadership?
Many reasons, starting with the fact that we do not have many real leaders in the truest sense of the word. The lack of leadership goes beyond that, though. Regrettably, far too many of those charged with leading our nation are too concerned with appearances rather than standing on principle and doing the right thing. These people are not leaders. They are politicians and they get bought and sold everyday.
I shook my head this weekend when I read how our soon to depart “leader” of the SEC is concerned about her legacy in relation to pending implementation of the JOBS Act. Folks, you cannot make this stuff up. (I recommend a second barf bag before reading any further.) (more…)
Weekend Reading: Let’s Meet Jeff Gundlach
Posted by Larry Doyle on December 1st, 2012 9:00 AM |
Wall Street.
The world of finance is largely centered on this American institution. In thinking of finance and markets, many are prone to think of annualized returns, measures of volatility, economic models, and so many more statistical facts and figures.
Robust numerical analysis is critically important to successfully navigating our economic landscape. While the numbers are important, from my standpoint, what makes Wall Street truly interesting are the people.
Let’s meet one of Wall Street’s sharpest minds and perpetual top portfolio managers, Doubleline’s Jeff Gundlach, who was profiled recently by Bloomberg. Gundlach has lots to say and never disappoints. What lies ahead on our economic landscape and how will that play out in our markets?
