Posts Tagged ‘Chris Dodd’
Posted by Larry Doyle on October 21st, 2013 10:12 AM |
Does a $13 billion fine such as that levied against JP Morgan represent justice?
I was asked by my friends at Global Economic Intersection to weigh in on the following questions regarding this penalty seemingly so large as to be hard to fathom.
Is the reported settlement appropriate? Sufficient? Insufficient?
How many criminal charges would be appropriate? None? Operational management? Executive management?
If you believe the action by DoJ is appropriate, has it been timely?
Should there be similar action against other banks? (more…)
Tags: Angelo Mozilo, Chris Dodd, fine on JPM, JP Morgan 13 billion fine, JP Morgan Chase fine, JP Morgan fine, JP Morgan fine imposed by DOJ, JP Morgan takeover of Bear Stearns, JP Morgan takeover of Washington Mutual, Kerry Killinger, mortgage fraud, was JP Morgan fine fair
Posted in fraud, General, JP Morgan, Mortgage Crisis, Mortgages | 4 Comments »
Posted by Larry Doyle on September 9th, 2013 9:37 AM |
As the 5 year anniversary of the demise of Lehman Brothers approaches, I would expect to see a steady stream of reviews of that critical period and interviews with some of the players involved.
Do not expect any mea culpas from those who brought our nation to its knees but let’s take a closer look at what former US Senator Chris Dodd has to say about those fateful days and his attempt to clean up a mess that he was party to creating in the first place.
The WSJ recently interviewed him regarding the financial regulatory reform legislation that has his name attached: (more…)
Tags: Chris Dodd, Chris Dodd interview with Dan Seib, did Dodd Frank end too big to fail, Dodd-Frank financial regulatory reform, lack of confidence in America, Lehman Brothers 5 year anniversary, unintended consequences, why is our economy so weak, WSJ interview with Chris Dodd
Posted in Christopher Dodd, General | No Comments »
Posted by Larry Doyle on October 11th, 2011 9:44 AM |
I received a call yesterday from a reporter from a highly regarded periodical inquiring about my recent commentary, ‘Occupy Wall Street’ Should ‘Occupy Washington’.
Having had a number of previous discussions with this reporter, I welcomed her question as to what I thought the OWS movement should look to achieve or demand.
I prefaced my comments by stating that I hope civil unrest and random violence do not come from these demonstrations. America needs a lot of things but we certainly do not need riots. (more…)
Tags: ARS, Auction Rate Securities, Barack Obama, Barney Frank, campaign contributions, Center for Responsive Politics, Chris Dodd, Chuck Schumer, Democratic Party and OWS, FINRA POGO, John Boehner, occupy wall street, occupy wall street's demands, OpenSecrets.org, Spencer Bachus, Wall Street-Washington incest, what should occupy wall street demand, who is heading up occupy wall street, who is leading OWS
Posted in General | 17 Comments »
Posted by Larry Doyle on October 7th, 2011 11:53 AM |
Is Wall Street the center of all the problems in America?
Many of those involved in the “Occupy Wall Street’ demonstrations may think so.
I strongly believe that they are wrong.
Those with a keen ‘sense on cents‘ understand that Wall Street does embody part of our national problems. They also appreciate that the stench that overhangs Wall Street is consistent with an incestuous and far stronger odor emanating from Washington. (more…)
Tags: ARS, Barack Obama, Barack Obama Franklin Raines James Johnson, Barney Frank, Chris Dodd, Chuck Schumer, demonstrations on Wall Street, Fannie Mae, FINRA, frustration in America, John Kerry, Larry Doyle, Mary Schapiro, occupy wall street, Occupy Washington, quid pro quo, regulatory capture, Richard Ketchum, Sense on Cents, truth transparency and integrity, Wall Street and Washington relationship, Wall Street demonstrations, Wall Street regulations, Wall Street's greatest scam, Wall Street's relationship with Washington, Wall Street-Washington incest, who is backing Occupy Wall Street, why are they demonstrating on Wall Street
Posted in General | 11 Comments »
Posted by Larry Doyle on October 30th, 2010 9:56 AM |
The Wall Street-Washington incest MUST end.
This coming Tuesday, America has a chance to ring that bell, expose that incest, cleanse the system, and deliver the message loud and clear. The peal of that bell must emanate from the 4th District in the state of Massachusetts.
You do not need to read Sense on Cents to appreciate that many politicians from both sides of the aisle have badly forsaken our nation’s future with misguided and ill-advised policies over the last few decades. Many of these politicians now look to save their skins– if not their souls– by professing a newly found religion with an anti-Wall Street mantel. America, and the residents of the 4th District in Massachusetts, should not be so easily hoodwinked. These politicians, especially Barney Frank, must be held accountable and sent home.
I implore the voters of the 4th District to think long and hard and appreciate that their longstanding elected representative Barney Frank embraced the people and the policies which continue to crush our nation. Which people? What policies? Those which were centered in America’s great financial sinkhole known as Fannie Mae then led by its former CEO Franklin Raines. During my own career on Wall Street, I witnessed Barney’s bear hug of Fannie and Franklin from up close. Do not forget Barney’s desire to ‘roll the dice’ with sub-prime mortgage financing.
Many media outlets will look the other way in holding Barney accountable; I have no interest in that. (more…)
Tags: 4th District in Massachusetts, Barney Frank campaign, Barney Frank election, barney Frank reelection bid, Barney frank relationship with Fannie Mae, barney frank roll the dice, Barney frank Sean Bielat race, Barney Frank vs Sean Bielat, can Sean Bielat beat Barney Frank, Chris Dodd, Dodd-Frank, Dodd-Frank Financial reform Act, enron on steroids, fannie mae franklin raines barney frank relationship, FINRA POGO, holding Barney frank accountable, House Financial Services Committee, I want to roll the dice Barney Frank, POGO letter on FINRA, political and financial reform, private profit social loss, Retire Barney, roll the dice, Sean Bielat campaign, will barney Frank win reelection n
Posted in General | 13 Comments »
Posted by Larry Doyle on April 9th, 2010 9:12 AM |
Who in America is going to stand up and accept appropriate culpability for his/her contribution to our current economic crisis? Who in America is also willing to expose the incestuous nature of the Wall Street-Washington relationship which provided the cover for the activities which have debilitated our nation?
Let’s review what we have learned so far:
1. Blame has been directed at bank executives…but they got paid handsomely, and have not accepted full responsibility.
2. Blame has been directed at ratings agencies….but they also got paid handsomely to provide ratings, while not really knowing what they were doing. (more…)
Tags: Ben Bernanke, blame for crisis, Chris Dodd, culpability for crisis, Fannie Mae execs, FCIC, finger pointing, FINRA, Franklin Raines, Freddie Mac execs, Larry Summers, Leland Brendsel, mortgage originators, Phil Gramm, public service, public service and private wealth accumulation, ratings agencies, reasons for our economic crisis, regulators, Rham Emanuel, Robert Rubin, SEC, Tim Geithner, Wall Street executives, Wall Street-Washington incest, Washington, what is to blame for our economic crisis, who is to blame for our economic crisis
Posted in General, Wall Street, Washington D.C. | 5 Comments »
Posted by Larry Doyle on March 22nd, 2010 4:24 PM |
Why am I so skeptical that Senator Chris Dodd’s proposed Financial Regulatory Reform (for overachievers in the audience, the link connects to the 89-page proposal) will truly change behaviors on Wall Street? For the very simple reason that I have seen no highlighting of the Financial Industry Regulatory Authority within the proposed Financial Regulatory Reform. Strike you as a little odd? It strikes me that the Wall Street lobby is hard at work keeping its self-regulator, that being FINRA, right where they want it.
Against this backdrop, I was pleasantly surprised to see highly regarded Barron’s columnist Jim McTague reference that the proposed reform would promote transparency and accountability of FINRA. (more…)
Tags: accountability of financial regulatory reform, Chris Dodd, Davis Pol Summary of Draft of Restoring American Financial Stability Act ing, Dodd Prepares to Whack Wall Street, Financial Industry Regulatory Authority, financial regulatory reform, financial self-regulation, FINRA, FINRA SEC TRACE, GAO, Jim McTague, MSRB, POGO, Report on Oversight of National Securities Associations, SEC oversight of FINRA, self-regulation, transparency of financial regulatory reform, Wall Street, Wall Street lobby, Wall Street-Washington incest
Posted in Christopher Dodd, FINRA, General, regulation | 2 Comments »
Posted by Larry Doyle on February 26th, 2010 6:22 PM |
Is it any surprise that the next drawdown in a multi-billion dollar ongoing bailout gets posted at 5pm on a Friday afternoon? Not in this economy where Uncle Sam, that’s you and me boys and girls, continues to pay for the woefully mismanaged financial and legislative practices of those in Washington.
The gutless typically prefer to operate under a veil of darkness.
I am referring to the sinkhole that is the organization known as Fannie Mae, as it comes back to the well for another $15 billion. Bloomberg highlights this ongoing bleeding in writing, Fannie Seeks $15 Billion in U.S. Aid After 10th Straight Loss:
Fannie Mae, the mortgage-finance company under federal conservatorship, said it will seek $15.3 billion in aid from the U.S. Treasury after posting a 10th straight quarterly loss. (more…)
Tags: Barack Obama, Barney Frank, Chris Dodd, Daniel Mudd, Fannie Mae, Fannie Mae losses, Fannie Seeks $15 Billion in U.S. Aid After 10th Straight Loss, Franklin Raines, housing, Housing Crisis, housing policy, John Kerrey, Mortgage Crisis, Mortgages
Posted in Fannie Mae, General | 3 Comments »
Posted by Larry Doyle on January 4th, 2010 9:47 AM |
For those who missed last evening’s No Quarter Radio’s Sense on Cents with Larry Doyle Hall of Fame and Shame Induction, I am compelled to provide a recap and listing of all those honored or dishonored — depending on one’s perspective. What was the measuring stick to make these assessments? Very simply, the pursuit and promotion of truth, transparency and integrity as we navigate the economic landscape.
Some names you will immediately recognize, others you may not. Additional information about these individuals can be found via the search window (located above the right sidebar) at Sense on Cents. The names appear in no specific order of priority or importance. With no further adieu . . .
Sense on Cents 2009 Hall of Shame Inductees
1. Bernie Madoff
2. Nicholas Cosmo: ran financial scam at Agape World
3. Tim Geithner: tax cheat amongst other things
4. Larry Summers: arrogant, condescending, and sleep deprived
5. Auction-Rate Securities dealers and managers, especially Oppenheimer Holdings, E-Trade, Schwab, Pimco, Van-Kampen, Blackrock
6. The Wall Street Journal
7. George Soros
8. Chris Dodd (D-CT): reasons too numerous to mention
9. The Board of FINRA
10. Franklin Raines and Leland Brendsel: former CEOs of Fannie and Freddie
11. Wall Street management, especially Lloyd Blankfein of Goldman Sachs
12. Frank Dipascali: a special place in hell for Madoff’s CFO
13. Rahm Emanuel
14. Jimmy Cayne: CEO of Bear Stearns
15. Dick Fuld: CEO of Lehman Bros.
16. Congress collectively
17. Barney Frank (D-MA): reasons too numerous to mention, but start with “I want to roll the dice…”
18. Bank Stress Tests: a total sham
19. Allen Stanford
20. Steven Rattner: car czar
21. Bruce Malkenhorst: receiving a 500k pension from Vernon, CA
22. Barack Obama: just another politician (more…)
Tags: Acorn, Allen Stanford, Andrew Madoff, Angelo Haligiannis Ponzi scheme, Arianna Huffington, auction rate securites dealers, Bank Stress Tests, Barack Obama, Barney Frank, Ben Nelson, Bernie Madoff, Board of FINRA, Bob Rodriguez of FPA, Bruce Malkenhorst, Canadian Prime Minister Stephen Harper, Carmen Reinhart, cash for clunkers, Charles Bowsher, Charlie Doyle, Chris Cox, Chris Dodd, Chuck Schumer, Clifford S. Asness, Cohmad Securities, Colonel Elton Johnson Jr., Congress, Daniel Hannan, Dennis Kucinich, Dick Fuld, Edward Liddy, Elizabeth Warren, Erin Arvedlund, financial media, financial regulatory reform, Frank DiPascali, Franklin Raines and Leland Brendsel, George Soros, Goldman Sachs, Harvey Pitt, Helen Davis Chaitman, Helmut Kiener, Howard Kastel, incest between Wall Street and Washington, Jeff Gundlach, Jeffrey Picower, Jimmy Cayne, Joe Saluzzi, Joe the Plumber, John Edwards Mark Sanford Rod Blagoevich, John Mauldin, john wooden, Jonathan Cuneo, Jonathan Weil of Bloomberg, Judge Jed Rakoff, Judge Lawrence McKenna, Kenneth Rogoff, Larry Johnson, Larry Summers, Laurie Goodman of Amherst Securities, Lew Rockwell, Lloyd Blankfein CEO of Goldman Sachs, Madoff family, Mark Madoff, Marta Mossburg, Martin Feldstein, Mary Landrieu, Mary Schapiro, media in America, Mike Duggan of Domus, Nicholas Cosmo of Agape World, Oppenheimer Holdings E-Trade Schwab Pimco Van-Kampen Blackrock, Paul Keating, Paul Volcker, Pete Peterson Genevievette Walker-Lightfoot, Peter King, Peter Madoff, Peter Weinberg, Phil Trupp, PPIP, Raj Rajaratnam of Galleon Group, Rham Emanuel, Richard Greenfield, Richard Ketchum, Robert Benmosche, Robert Jaffe, Robert reich, Robert Rubin, Ronnie Sue Ambrosino, Ruth Madoff, Sean D'Arcy, SEC, Sense on Cents 2009 Hall of Fame Hall of, Sense on Cents 2009 Hall of Shame, Shana Madoff, Shelia Bair, Sin-Ming Shaw, SIPC, Sonny and Marcia Cohn, Steven Rattner, Susan Antilla of Bloomberg, Taylor Bean Whitaker, Tea parties, Thaddeus McCotter, The Wall Street Journal, Themis Trading, Thomas Hoenig, Tiger Woods, Tim Geithner tax cheat, Tom Lauria, truth transparency and integrity, Wall street management, Walter Noel, William K. Black
Posted in General, Sense on Cents | 31 Comments »
Posted by Larry Doyle on December 31st, 2009 11:34 AM |
Blank checks are the antithesis of good public policy.
America can not allow the passage of time to lessen the outrage over the Obama administration’s Christmas Eve bonus to the financial sinkholes known as Freddie Mac and Fannie Mae. Platitudes and posturing aside, the American taxpayer is being set up as never before.
A blank check may serve to cover a host of past financial and legislative failures promoted by the likes of Barney Frank, Chris Dodd, John Kerry et al, but who is monitoring and verifying the legitimate and proper use of these funds? Are we to blindly trust Treasury Secretary Geithner, White House economic adviser Larry Summers, and their respective staffs in this process? Are you kidding me? America needs to voice its outrage long and hard. In that spirit, I called yesterday to Audit Freddie and Fannie.
In the same vein, I am heartened by initiatives launched yesterday by Rep. Dennis Kucinich (D-OH), and Reps. Scott Garrett (R-NJ) and Spencer Bachus (R-AL) to pursue an investigation of this blank check.
The Wall Street Journal reports, Lawmakers Want Probe Into Treasury Aid for Fannie, Freddie: >>> (more…)
Tags: audit Freddie and fannie, Barney Frank, Chris Dodd, Dennis Kucinich, Freddie and fannie's blank check, House Financial Services Committee, House Oversight and Government Reform panel, I want to roll the dice, John Kerry, Larry Summers, Scott Garrett, Spencer Bachus, sub-prime lending comment by Barney Frank, Tim Geithner, toxic assets on Wall Street, transferring losses from Wall Street to taxpayers, trust but verify
Posted in Barney Frank, Fannie Mae, Freddie Mac, Larry Summers, Tim Geithner | 9 Comments »
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Trust Tim Geithner, Larry Summers, Barney Frank?
Posted by Larry Doyle on December 31st, 2009 11:34 AM |
Blank checks are the antithesis of good public policy.
America can not allow the passage of time to lessen the outrage over the Obama administration’s Christmas Eve bonus to the financial sinkholes known as Freddie Mac and Fannie Mae. Platitudes and posturing aside, the American taxpayer is being set up as never before.
A blank check may serve to cover a host of past financial and legislative failures promoted by the likes of Barney Frank, Chris Dodd, John Kerry et al, but who is monitoring and verifying the legitimate and proper use of these funds? Are we to blindly trust Treasury Secretary Geithner, White House economic adviser Larry Summers, and their respective staffs in this process? Are you kidding me? America needs to voice its outrage long and hard. In that spirit, I called yesterday to Audit Freddie and Fannie.
In the same vein, I am heartened by initiatives launched yesterday by Rep. Dennis Kucinich (D-OH), and Reps. Scott Garrett (R-NJ) and Spencer Bachus (R-AL) to pursue an investigation of this blank check.
The Wall Street Journal reports, Lawmakers Want Probe Into Treasury Aid for Fannie, Freddie: >>> (more…)
Tags: audit Freddie and fannie, Barney Frank, Chris Dodd, Dennis Kucinich, Freddie and fannie's blank check, House Financial Services Committee, House Oversight and Government Reform panel, I want to roll the dice, John Kerry, Larry Summers, Scott Garrett, Spencer Bachus, sub-prime lending comment by Barney Frank, Tim Geithner, toxic assets on Wall Street, transferring losses from Wall Street to taxpayers, trust but verify
Posted in Barney Frank, Fannie Mae, Freddie Mac, Larry Summers, Tim Geithner | 9 Comments »