Hank Paulson’s Recollections: Mile Wide, Inch Deep
Posted by Larry Doyle on August 29th, 2013 8:17 AM |
Might Hank Paulson have selective amnesia or whatever happened to real journalism?
My former question actually could be posed to most pols, bankers, and regulators over the last number of years. The latter would apply even longer than that.
Well I guess posing tough questions and demanding answers in this day and age would likely leave journalists writing little more than monologues. What a pity.
I see another example of this shallow journalism on display in written reviews and interviews with former Treasury Secretary Hank Paulson. What brings Paulson back on stage? (more…)
Federal Reserve Internal Survey: ‘Will Beatings Continue Until Morale Improves?’
Posted by Larry Doyle on August 28th, 2013 10:16 AM |
The Federal Reserve has to be one of the single most opaque institutions not only in our nation but in the world. I often think of the Fed as having a door in which those inside can see out, but those outside can never see in.
In light of this premise, I am exceptionally surprised to read of a recent survey of Federal Reserve employees that is highlighted by The Huffington Post.
Regulators overseeing the nation’s largest financial institutions are distrustful of their bosses, afraid to speak out, and feeling isolated, according to a confidential survey this year of Federal Reserve employees. (more…)
What Recovery? Durable-Goods Orders Drop Off Cliff
Posted by Larry Doyle on August 26th, 2013 9:27 AM |
The economy might never look better for those involved in crony, rent-seeking pursuits.
For the rest of us, continued belt tightening is the order of the day.
With wages remaining stagnant, we now get to swallow a heaping of further economic gruel as large-ticket durable goods orders are reported to have taken what might only be compared to a swan dive off a tall cliff.
How long a dive and what is the degree of difficulty connected with this report? “Only” a 7.3 percent decline . . . OUCH. Brace yourself for a large splash and likely bodily injury upon entry.
Let’s review the dive a little closer as the WSJ covers the scene:
(more…)
Moyers Interviews This Town Author Mark Leibovich
Posted by Larry Doyle on August 25th, 2013 7:09 AM |
For those who might still be wondering why America is rotting from within, please find 45 minutes to watch Bill Moyers recent interview with Mark Leibovich, author of This Town, a best selling expose of how crony capitalism has become pervasive in our nation’s capital.
After watching this clip, I think there is little doubt that people will understand how public service has become a major for profit undertaking; I think people may also feel the need to take a shower. This is truly a must view as Leibovich names names and does not pull any punches in doing so.
Washington is clearly filled with a pack of losers. But unfortunately the real losers are the American public.
Navigate accordingly.
I thank the regular reader who brought this clip to my attention.
Larry Doyle
Please pre-order a copy of my book, In Bed with Wall Street: The Conspiracy Crippling Our Global Economy, that will be published by Palgrave Macmillan on January 7, 2014.
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I have no business interest with any entity referenced in this commentary. 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.
President Obama, Please Read: The Real Reason College Costs So Much
Posted by Larry Doyle on August 24th, 2013 10:37 AM |
I firmly believe that economic freedom is only achieved by navigating one path, that being, education defined in the broadest of terms (vocational, secondary, higher or even home schooled).
To that end, I applaud President Obama and Secretary of Education Arne Duncan for their efforts to improve secondary education in our country via the Race to The Top.
President Obama is now laying out a new initiative to make college more affordable for those pursuing higher education. On the surface, who would be averse to making college education more affordable? But let’s dig a little deeper. In doing so, I think we might gain a greater understanding as to whether Uncle Sam is more part of the problem than part of the solution to higher education being so exorbitantly expensive.
Wall Street Criminal Referrals: 96% Decline
Posted by Larry Doyle on August 23rd, 2013 7:00 AM |
How deep in the tank have our regulators gone over the years to protect Wall Street rather than upholding their mandate to provide real investor protection?
Really deep.
How might we measure the depth?
Check out the following incredible statistic highlighted by one of my favorite financial journalists, that being Bloomberg’s Jonathan Weil. (more…)
Obama on Dodd-Frank: Is He Serious?
Posted by Larry Doyle on August 20th, 2013 10:10 AM |
Three full years after the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, less than 40 percent of the watered-down rules within the reform have actually been written.
And those that have fall mostly under the heading of low-hanging fruit.
President Obama played the populist card again yesterday, calling on Congress and the independent regulators to complete their work on this reform.
Does President Obama think the American public actually believes Wall Street has been or will be reformed via Dodd-Frank? Really? Is he serious?