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HomePBS Frontline: Secrets of The Vatican
Posted by Larry Doyle on February 28th, 2014 8:54 AM |
I could not possibly recommend more strongly the viewing of this recently released documentary on PBS Frontline. The issues addressed are almost too numerous to properly categorize, but at the core is scandal and corruption at the highest level of the Catholic Church.
I will pray for Pope Francis that he is successful in cleansing the church of those deeply ensconced within it who have engaged in corruptible practices.
The comments attached to this documentary are also worth reviewing. I found this one to be of particular interest:
A remarkable program about the Vatican. We need a similar one on Wall Street, the US Congress and the United Nations.
I thought of INTOXICATION stemming from SEX, MONEY, SUBSTANCES, POWER, RELIGION and KNOWLEDGE. It would be a mistake to see all that this great Television exposed without some introspection on intoxication and what we encounter before a mirror.
The documentary runs for about 80 minutes. I hope those navigating these parts will find the time to view it and share it.
Larry Doyle
Please order a hard copy or Kindle version of my book, In Bed with Wall Street: The Conspiracy Crippling Our Global Economy.
For those reading this via a syndicated outlet or receiving it via e-mail or another delivery, please visit the blog to view this video and to comment on this piece of ‘sense on cents.’
Please subscribe to all my work via e-mail.
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.
Geithner: “We Saved The Economy, Lost The Country”
Posted by Larry Doyle on February 26th, 2014 7:01 AM |
Given the steady stream of platitudes put forth by many past and present political and financial figures in and around Washington, I find myself typically dismissing much of what is said as simply “more of the same.” In the process, I usually scan headlines and quickly move on to review news or issues that I find more meaningful.
Yesterday I paused, though, upon seeing a headline in The Wall Street Journal that caused me to want to look a little deeper. The headline, Geither: ‘We Saved The Economy . . . We Lost The Country.’ This I had to read. (more…)
Wall Street’s Greatest Racket: FINRA’s ‘Meter Maids’
Posted by Larry Doyle on February 25th, 2014 6:45 AM |
In 2013 the six largest banks on Wall Street generated profits of $76 billion.
Last year, Wall Street’s primary self-regulatory organization FINRA imposed fines of $57 million.
Anybody still wondering why Wall Street likes being a self-regulated industry? Is Wall Street this clean or are the regulators little more than meter maids, as I have long maintained? Thanks to the folks at Sutherland Asbill & Brennan, let’s look at the fines imposed by FINRA last year and over the last 9 years (including the years prior to FINRA’s formation in 2007 as a result of the merger of the NASD and the regulatory arm of the NYSE):
Numbers don’t lie. (more…)
Upcoming Book Events
Posted by Larry Doyle on February 24th, 2014 4:28 PM |
I typically use Facebook and Twitter to promote events relating to In Bed with Wall Street, but a few readers who do not use social media have requested that I post upcoming events here on the blog. I will do so every once in a while for events that are open to the public.
Wednesday night, February 26th: I will be speaking at Baruch College in Manhattan. The event is co-sponsored by the New York Chapter of the National Investor Relations Institute, and is free and open to the public. Doors open at 6pm, with my presentation beginning at 6:15pm. Pre-registration is required. For more information, please go to the Baruch College calendar highlighting this event.
For those in the Greater Boston area, I have two upcoming book signings which will also include a discussion of the book and what led me to write it. If your schedule allows, please stop by to say hello.
Thursday, March 6th at 7pm: Barnes & Noble in Framingham, MA
Tuesday, April 8th at 7pm: WellesleyBooks in Wellesley, MA
Back in the NYC-metro area . . .
Thursday, April 10th at 7pm: Very pleased to be invited by Book Revue in Huntington, NY.
I’d like to also mention that many of my television and radio appearances are archived under the Television/Radio tab. The media discussions cover a range of topics from my book to the Federal Reserve to structural issues in our economy, and so on.
If you’d like to begin following me on Facebook or Twitter, the links are:
Sense on Cents/Facebook
In Bed with Wall Street/Facebook
Sense on Cents & In Bed with Wall Street/Twitter
As always, thank you for your support.
Larry Doyle
Federal Reserve Minutes Reveal “Ignorance”
Posted by Larry Doyle on February 24th, 2014 6:36 AM |
I know of few descriptive terms more harsh than classifying an individual or organization as being ignorant.
Yet that is exactly how The New York Times labels the most powerful institution in the world, that being the Federal Reserve, after reviewing the recently released minutes from the Fed’s meetings back in 2008.
The hundreds of pages of transcripts, based on recordings made at the time, reveal the ignorance of Fed officials about economic conditions during the climactic months of the financial crisis.
Serving as a Fed official is not a part time role akin to committing one’s time for a local civic organization. In fact, perhaps not fully appreciated by many in our nation, the Federal Reserve not only serves as our nation’s monetary authority but also as a primary regulator for our banking system. (more…)
5 Years Later, ‘TBTF’ Elephant In America Remains
Posted by Larry Doyle on February 21st, 2014 12:13 PM |
A slew of minutes and commentary related to Federal Reserve meetings held during the crisis of 2008 are just now being released.
While many of the minutes provide a riveting look at the topics on the table at that point in time, I found the following highlighted in a synopsis at The Street.com to be particularly meaningful. (more…)
DANGER: Unknown Size, Location of Financial WMD
Posted by Larry Doyle on February 20th, 2014 6:31 AM |
If there are hackers in far off countries who can figure out how to penetrate the computer systems of our nation’s banks and retailers, how is it that a full 5 years after the greatest crisis since the Depression that our financial regulators are not able to properly monitor the financial weapons of mass destruction, aka derivatives contracts, running throughout our system?
I will tell you how. Because the ‘too big to fail’ banks have zero interest in making that happen. If anybody needed any further reason to break up our ‘too big to fail’ banking oligopoly, Bloomberg provides it in this recent editorial:
The recent turmoil in emerging markets raises an urgent question: If things get worse, if markets plunge or a government defaults, do regulators know which banks, hedge funds or other institutions are most at risk? (more…)
Raising the Minimum Wage: Not the Answer
Posted by Larry Doyle on February 19th, 2014 9:57 AM |
Raising the minimum wage is another hot button issue that will serve to incite strong reactions on both ends of the political spectrum, but fails to address core structural issues in our nation.
Who is not supportive of helping people rise out of poverty and try to earn a reasonable wage?
While some political pundits might like to rewrite basic economic principles, ultimately a raising of the minimum wage serves to re-slice our nation’s economic pie rather than grow it. Some individuals will benefit by earning more, but others in the same economic strata will suffer by losing their jobs altogether. (more…)
J. Weil: Wall St. Arbitration ‘Plenty Rigged’
Posted by Larry Doyle on February 18th, 2014 6:34 AM |
Bill Cohan, Susan Antilla, Gretchen Morgenson.
Although these individuals are not the only financial journalists whom I hold in high regard, they are certainly among the very few.
Who else is in their company? Bloomberg’s Jonathan Weil, who just the other day wielded a very sharp pen in addressing the arbitration process on Wall Street, or what I define as ‘the kangaroo court.’
Truth be told, the folks at FINRA who oversee Wall Street arbitration seem to be getting a little weary of being used as a punching bag and have made some tweaks to the system. Weil is not impressed. (more…)
Mr. Old Man Winter
Posted by Larry Doyle on February 13th, 2014 9:15 AM |
There was a time when I loved days like this.
The prospect of making $10 to 15 dollars or so after shoveling out various neighbors’ driveways and walkways was energizing. After that, constructing a snow fort from the mountain of snow left from the city snowplow made for great fun with boyhood friends. Those days were 40 years ago.
With Mister Old Man Winter roaring along the east coast once again, the only word I have to say to him now is . . . “Uncle!”
Be safe and warm as you navigate accordingly.
Larry Doyle
Please order a hard copy or Kindle version of my book, In Bed with Wall Street: The Conspiracy Crippling Our Global Economy.
For those reading this via a syndicated outlet or receiving it via e-mail or another delivery, please visit the blog to comment on this piece of ‘sense on cents.’
Please subscribe to all my work via e-mail.
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.
