RSS Feed
Twitter
Facebook
Email
HomeAmerica’s New Economic Policy: “Screw The Kids”
Posted by Larry Doyle on January 16th, 2013 8:41 AM |
What about me? What is in it for me? How does this work for me? The “ME” mentality strikes me as central to America’s new official economic policy.
Who is “ME”? Our Washington politicos.
What policy is that? Let’s navigate.
Having recently sidestepped the fiscal cliff, and as we continue to navigate the economic landscape, we are now faced, as the FT describes them, with “three enormous gorges.” Sounds ominous, right? What are the three gorges? (more…)
JPM – Madoff Laundromat “Cleans” Empty Suits
Posted by Larry Doyle on January 15th, 2013 9:20 AM |
If a cop were to a issue a challenge (perhaps even a threat), and an organization calls the cop’s bluff and beats him like a drum in the process, what does that say about the cop, the organization, and the activity in question? To what do I allude?
Well, let’s say for example, a criminal uses a laundromat for the purpose of facilitating his “business” but the laundromat is not held to proper account. Did the “business activity” ever really occur there? Did the cops ever fully and properly investigate and enforce their duty to uphold the law?
Not that Americans are not already fully aware of the charades being played out in the world of financial regulation and oversight but the latest iteration really takes the cake. To what do I refer? (more…)
Why Should The Banks Be Broken Up?
Posted by Larry Doyle on January 14th, 2013 9:54 AM |
As much as I detest the involvement of the government in what are supposed to be free markets, I can appreciate the need for Uncle Sam’s stepping in to save our banking system in late 2008.
Now going on five years hence, it is time that we move to save capitalism. How do we do this? We need to break up the banks. Why so? Here’s a handful of reasons why: (more…)
Libor Scandal: UBS Bosses, ‘We Knew Nothing’
Posted by Larry Doyle on January 11th, 2013 8:49 AM |
Senior executives at major Wall Street banks claiming they ‘knew nothing‘ of the scandalous rigging of Libor that generated untold billions of dollars in revenue over a multi-year time period might only be compared to one other comedic actor. Which one is that? How could we ever forget the fabulously funny . . .
While Schultz, Hogan and the boys brought enormous comic relief to so many, there is little to laugh about rigged markets and incomplete information emanating from Wall Street. (more…)
Libor Scandal: Deutsche Bank Went ‘All In’
Posted by Larry Doyle on January 10th, 2013 8:51 AM |
“Investment capital goes where it’s welcome and stays where it’s appreciated.” Maine governor Paul LePage
The more information one holds, the better positioned he is to take increased risk. If that information were to include the ability to influence if not outright manipulate a game/market, then one’s risk profile —that is, the size of one’s position — is likely to really increase.
Can you imagine if you were playing the tables in Vegas and you had knowledge as to what the dealer held and what he was likely to pull, what would you do? (more…)
Maine Governor Paul LePage’s ‘Sense on Cents’
Posted by Larry Doyle on January 9th, 2013 9:19 AM |
“Investment capital goes where it’s welcome and stays where it’s appreciated.”
Do you ever get the sense that many a politician believe that issues are too complex for the general public to understand? I would turn that around and maintain that basic economics are often not understood by the politicians themselves.
I would go one step further, though, and state that many issues are unnecessarily complex because the payoffs and cronyism embedded in the issues need to find a home in the legislation.
What does America need? (more…)
Would You Buy a Used Car From Lloyd Blankfein?
Posted by Larry Doyle on January 8th, 2013 8:41 AM |
America awakes this morning with another 20 billion reasons not to trust those running our major financial institutions, our regulatory agencies, or those in Congress ultimately charged with overseeing them.
Wall Street’s merely paying of fines for activities (mortgage fraud) that by any measure would be defined as part and parcel of racketeering only serves to further erode what little trust the American public might still hold in these aforementioned entities.
Trust….what price does trust trade at? What value does it hold? Would you know it if you ‘saw’ it? (more…)
Let’s Go Fightin’ Irish!!
Posted by Larry Doyle on January 6th, 2013 4:33 PM |
Every now and then, I like to take a sidetrack with my blog to express support for personal passions. Today is one of those days.
There is little doubt that in America circa 2013 all too many corners of our nation’s social fabric are littered with institutions and industries that compromise values and principles in pursuit of profit and victory. I will not burden you by listing off the names of individuals, companies, and other pursuits that live in this cesspool.
I will share with you the name of one institution and one team that stands out by pursuing victory while elevating its principles rather than subjugating them. What institution and what team? (more…)
JP Morgan Holding Back Madoff Documents
Posted by Larry Doyle on January 4th, 2013 11:57 AM |
Four years after the fact and America still does not know what really transpired within the Madoff scandal. Who knew what? Who did what?
Are we supposed to believe that only Bernie and a few other miscreants within his web perpetrated this scam unbeknownst to others on Wall Street and within the halls of our financial regulators? That premise would take the definition of naivete to an exceptionally elevated level.
What other entities benefited from feeding off Bernie Madoff? Well, if we needed to rely on the likes of JP Morgan, we will seemingly never learn that info and likely more. Why is that? (more…)
Congressional Child Care Now in Session
Posted by Larry Doyle on January 4th, 2013 7:06 AM |
How low can we go?
The crowd that might pretend to be governing our country atop Capitol Hill garners very little respect, admiration, or approval from an overwhelming percentage of American citizens. With good reason. Given the pathetic drama and woefully deficient outcome recently displayed in the fiscal cliff negotiations (??), those in Washington earned the distinction as a collective JOKE that I bestowed upon them last week.
The folks at Bloomberg Businessweek go a step further in defining the clowns in Washington as little more than a pack of whiners. If it were not called Congress and situated atop Capitol Hill, one might think this gathering of bed wetters is little more than the occupants of a child care located in any town in America. (more…)
