Archive for the ‘Obama Administration’ Category
Posted by Larry Doyle on March 12th, 2013 8:25 AM |
In December 2011, President Obama was interviewed on 60 Minutes and had the following exchange with CBS’ Steve Kroft in regard to behaviors on Wall Street:
KROFT: One of the things that surprised me the most about this poll is that 42%, when asked who your policies favor the most, 42% said Wall Street. Only 35% said average Americans.
My suspicion is some of that may have to do with the fact that there’s not been any prosecutions, criminal prosecutions, of people on Wall Street.
And that the civil charges that have been brought have often resulted in what many people think have been slap on the wrists, fines. “Cost of doing business,” I think you called it in the Kansas speech. Are you disappointed by that? (more…)
Tags: Department of Justice, Eric Holder comment on banks, Eric Holder indicts too big to fail, holder on too big to fail, Holder on too big to prosecute, Obama on too big to fail, too big to fail, too big to jail, too big to prosecute, too big to regulate, Wall Street regulation
Posted in Bailout, Bank Failure, Banking Institutions, General, Obama Administration, too big to fail, Wall Street, Wall Street Washington Incest | 6 Comments »
Posted by Larry Doyle on February 2nd, 2012 11:57 AM |
I find myself in a daily battle not to write cynically about our economy and the political dynamic within our nation.
Just this morning I find myself wanting to rail on the Obama administration’s latest efforts to support housing when past efforts have been such enormous disasters.
How enormous? I cannot help myself……. (more…)
Tags: Billion Prices Project MIT, Consumer Metrics Institute, cynicism in America, easy to be cynical, Federal Housing Administration, FHA plan to support housing, financial ignorance in America, housing foreclosure crisis, Housing plan White House, Josh Rosner, Kenneth Rogoff, Obama Administration Housing Plan, Obama Housing Plan, Obama on housing, Obama Plan for Housing, Obama Promotes housing, Obama's housing plan, President Obama, Seeking Alpha, Sense on Cents, Shadow Government Statistics, Uncle Sam, White House plan on housing, White House plan to support housing, will Obama plan for housing work, will Obama's housing plan work
Posted in General, Housing Crisis, Obama Administration | 6 Comments »
Posted by Larry Doyle on June 8th, 2011 5:57 AM |
What issue in our nation generates the strongest personal reaction?
1. Economy
2. Education
3. Deficit
4. Healthcare
5. Employment
While my poll is entirely unscientific and my answer is my own opinion, I STRONGLY believe that the topic of healthcare generates the strongest reaction of any issue facing our nation. Why? It’s personal nature, that is, “if you do not have your health, then what else really matters”? (more…)
Tags: changes under Obamacare, do employer mandates work, Economy, employer mandates, employer sponsored coverage ge, healthcare, healthcare costs, healthcare rationing, healthcare services, how will companies adapt to Obamacare, if you do not have your health, impact of Obamacare, McKinsey Quarterly, Newt Gingrich on healthcare, Obama Administration, Obama's Affordable Care Act, Obamacare, thoughts about Obamacare, what issue generates greatest reaction, what issue is most personal
Posted in General, health care reform, Obama Administration | 7 Comments »
Posted by Larry Doyle on May 25th, 2011 7:57 AM |
Information is everything.
Regular readers of Sense on Cents are well aware of my having written that statement on many an occasion. Those on Wall Street who gain early access to critical information have a decided advantage. Those in Washington who gain the upper hand in controlling the flow of information are also at a decided advantage.
As these realities become ever more prevalent, Americans and people worldwide are working harder and digging deeper to attain unbridled access to information in order to determine the truth and promote transparency. With major media outlets often failing us in these pursuits, where do we turn for this information? The internet.
Against this backdrop, I am not surprised to see political powers in Washington accept and embrace the reality of the power of the information superhighway and put an ‘eye in the sky’ in order to monitor the traffic. To what do I allude? (more…)
Tags: access to information, Are you in?, are you in? is obama's new rallying cry, ars nightmare, Auction Rate Securities, Director of Progressive Media & Online Response, failure of media, financial regulatory reform, FINRA, finreg, House Speaker John Boehner, Huffington Post, information is everything, Jesse Lee's new role at White House, obama 2012, obama bowing to saudis, obama in 2012, obama shaking hands with chavez, obama shaking hands with netanyahu, power of the internet, regulatory capture, Representative Grimm, Senator Jeff Sessions, Senator Jon Kyl, sense of disenfranchisement, slogan for obama re-election campaign 2012, truth transparency integrity, Wall Street-Washington incest, what is obama's new slogan for reelection, what is regulatory capture, whistleblower protection, White House Beefs Up Online Rapid Response, White House Communications Director Dan Pfeiffer, who is Dan Pfeiffer, who is Jesse Lee, will obama get reelected
Posted in Barack Obama, General, Obama Administration, Washington D.C. | 5 Comments »
Posted by Larry Doyle on May 4th, 2010 12:45 PM |
Not that you would find it in any media outlets (believe me, I’ve looked for the last hour), but earlier today President Obama publicly acknowledged that American companies will be forced to take immediate charges to income from the recently enacted healthcare reform.
Recall that members of Congress railed on a number of corporate executives for highlighting these charges shortly after the legislation was passed. Rep. Henry Waxman initially called a special meeting to castigate the corporate executives, but then tucked his tail between his legs and cancelled that meeting when it became apparent that he did not truly understand the basic accounting principles necessitating these charges. (more…)
Tags: Business Council May 4 2010, healthcare remarks by Obama May 4 2010, Obama admits corporate charges due to healthcare May 4 2010, Obama Business Council May 4 2010, Obama Business Council speech may 4 2010, Obama speech May 4 2010, Obama speech to Business Council May 4 2010
Posted in Barack Obama, health care reform, Obama Administration | 2 Comments »
Posted by Larry Doyle on April 14th, 2010 2:34 PM |
President Obama wants input on the reform of the housing finance system. Given my career, I consider myself eminently qualified to give it to him. Despite this request, though, I still think he should focus on job creation (which he highlighted during his State of the Union address).
I welcome giving President Obama, Treasury Secretary Geithner, and the rest of the the White House economic team a very healthy dose of Sense on Cents. (My response is a little lengthy, but it is not everyday the President gives us this opportunity. Out of respect, I owe him my best effort.) I will let you know if they respond with anything more than a form letter, or if they do not respond at all. From the U.S. Treasury today:
(more…)
Tags: 13 Bankers by Simon Johnson and James Kwak, 2008 campaign, 2012 campaign, Fannie Mae Freddie Mac, federal housing finance objective, federal housing policy, Federal Register, financial regulation, finra liquidation of ars, FINRA sold Auction Rate Securities, fiscal discipline, future of housing finance system, government housing policy, hard work discipline thrift personal responsibility family, housing finance reform, HUD Secretary Shaun Donovan, Mary Schapiro, Mary Schapiro SEC, Mary Schapiro tenure of Finra, Obama request for input on housing finance reform, President's Open Government Initiative, Public Input on Reform of Housing Finance System April 14 2010, Questions for Public Solicitation of Input, request for input on housing finance reform, Stephen Harper, Treasury Secretary Tim Geithner, U.S. Treasury request for housing finance reform, what is future of Freddie and Fannie
Posted in General, Obama Administration | 3 Comments »
Posted by Larry Doyle on March 16th, 2010 11:43 AM |
Is the White House reading Sense on Cents?
While I ask that question in a self-effacing fashion, I will allow others to pass muster as to whether my commentary deserves attention in Washington. Why do I ask that question now though? I wrote this morning, “What Happened to Focus on Jobs?”:
The ‘talking points’ utilized by those in Washington project that our economy and markets are experiencing cyclical unemployment. I firmly believe they are wrong. Our economy and markets are experiencing structural unemployment.
Now it appears as if the White House ‘talking points’ have changed. (more…)
Tags: Bloomberg, Christina romer, Council of Economic Advisers, cyclical unemployment, disconnect between Wall Street and Main Street, discouraged workers, elevated unemployment for extended period, Employment, job outlook, job prospects, jobs, Main Street, Obama Administration, Peter Orszag, structural unemployment, Tim Geithner, Unemployment, Wall Street, White House
Posted in Employment, General, jobs, Obama Administration, Unemployment | 6 Comments »
Posted by Larry Doyle on February 2nd, 2010 3:02 PM |
I have debated writing about Robert Wolf.
Who is Robert Wolf? The CEO of UBS Group Americas and one of if not the closest adviser President Obama has on Wall Street. Wolf was profiled in The Wall Street Journal on January 23rd, Obama’s Lead Blocker on Wall Street:
Mr. Obama has at least one buddy in the banking business: a former University of Pennsylvania fullback and ex-Salomon Brothers bond trader who now serves as an outside White House adviser. (more…)
Tags: Barack Obama, Barack Obama and Robert Wolf, Barack Obama Robert Wolf George Soros, career of Robert Wolf, CEO of UBS Group Americas, Jim Torrey of Torrey Funds, mortgage losses at UBS, Obama, Obama and Wolf, Obama Wolf Soros, Obama's Lead Blocker on Wall Street Wall Street Journal, Obama's relationship with Robert Wolf, Robert Wolf, Union Bank of Switzerland, who is Robert Wolf
Posted in General, Obama Administration, UBS | 8 Comments »
Posted by Larry Doyle on January 21st, 2010 3:59 PM |
Earthquakes always lead to after-shocks.
With all due respect and sensitivity to the residents of Haiti, the earthquake felt in the Massachusetts Senate election on Tuesday has led to the after-shock dropped on Wall Street today by President Obama. Obama’s call to limit the size and risk-taking of Wall Street banks is meant to address the rage and anxiety of the American public. Any vision, however, will only be as effective as those commanders charged with its execution.
Who on Obama’s team will ultimately be in the position to execute this vision to reconstruct Wall Street? Tim Geithner, Ben Bernanke, Larry Summers, and Mary Schapiro. Each of these individuals is badly scarred as a result of the crisis that started on Wall Street and, in turn, crushed Main Street. (more…)
Tags: fire geithner, fire schapiro, fire summers, if wall street wants a fight, k about a fight with wall street, obama plan to reduce risk on wall street, obama proposal for wall street, obama's financial generals, Obama's plans for Wall Street, replace geithner with volcker, replace schapiro with cuomo, replace summers with feldstein, tim ryan of sifma comments on obama plan, wall street prop trading, who will execute obama plans for wall street
Posted in Barack Obama, General, Obama Administration, Wall Street | 8 Comments »
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Holder Refutes Obama with “Indictment” of TBTF
Posted by Larry Doyle on March 12th, 2013 8:25 AM |
Tags: Department of Justice, Eric Holder comment on banks, Eric Holder indicts too big to fail, holder on too big to fail, Holder on too big to prosecute, Obama on too big to fail, too big to fail, too big to jail, too big to prosecute, too big to regulate, Wall Street regulation
Posted in Bailout, Bank Failure, Banking Institutions, General, Obama Administration, too big to fail, Wall Street, Wall Street Washington Incest | 6 Comments »