Posts Tagged ‘crony capitalism’
Posted by Larry Doyle on April 29th, 2012 12:41 PM |
I truly love gaining global insights and perspectives from highly intelligent people. I had just such a treat this morning in reading a Barron’s interview with the economic and financial historian Niall Ferguson.
What did this Harvard professor have to say on a topic which should be a MAJOR point of debate for our 2012 Presidential election? A lot. Let’s navigate.
Barron’s: There are once again concerns about U.S. growth. What factors are keeping the economy from reaching what you call “escape velocity”? (more…)
Tags: cost of crony capitalism, crony capitalism, greater economic growth, harvard professor Niall Ferguson, how do we generate economic growth, how to increase GDP, how to reach escape velocity, how to strengthen economy, investor protections, is America Becoming anAnti-Risk Welfare State?, keys to economic growth, Niall Ferguson, Niall Ferguson interview in Barron's, property rights, reducing corruption, rule of law, self-sustaining recovery, The World Justice Project, transparent regulations, unlocking more economic growth, waht point in history is like the current, Wall Street-Washington incest, what are the keys to economic growth, what is escape velocity, who is Niall Ferguson
Posted in Economy, General, Wall Street Washington Incest | 4 Comments »
Posted by Larry Doyle on October 17th, 2011 8:58 AM |
There is strength in numbers, right? No doubt.
There is also strength in scale, strong organization, defining one’s place in the market and then accentuating all of the above.
Thanks to a loyal reader whose recent comment prompted me to think of how and why a merger of the Tea Party and Occupy Wall Street movements should occur.
Why do mergers work? In my opinion, successful mergers accomplish the following:
1. Define a need and opportunity within the marketplace.
2. Develop a unified vision in joining forces which looks for far reaching and grand common goals.
3. Agree to make the shared sacrifice which marginalizes those inside and outside the individual units which would prefer the status quo or a variation thereof.
4. Realize that prior to winning future battles, nothing can and will be accomplished unless there is an acceptance and agreement on the points above.
Against this backdrop, why do I think those involved in both the Tea Party and Occupy Wall Street movements should merge? (more…)
Tags: could we merge Tea Party and OWS, crony capitalism, formation of a third party, let's merge the Tea Party and OWS, merger of Tea Party and Occupy Wall Street, merging Tea Party and OWS, occupy wall street, Occupy Wall Street October 17 2011, root of our national problems, Sense on Cents, successful mergers, third party, truth transparency and integrity, Wall Street-Washington incest
Posted in General | 8 Comments »
Posted by Larry Doyle on November 12th, 2010 8:12 AM |
After three years of economic turmoil, why do I believe we are just now entering the second phase of a protracted economic drag here in the United States? While many economists and analysts would like to parse each and every bit of data that comes across the tape—that is what they do for a living—I believe we are better served to focus on the larger waves and currents at play across our global economic landscape. What do I see? A New World Order.
Do not think for a second that this reality does not have real long term implications for our economy and our people. I am not saying that there will not be enormous economic opportunities for individuals and businesses alike, but the skeletons in our American closet can only be hidden so long. Let’s navigate. (more…)
Tags: A New World Order, Americas economic skeletons, Angela Merkel, beggar-thy-neighbor, Ben Bernanke, Brazilian president Lula da Silva, Brazilian presidnet Lula, Canadian Prime Minister Stephen Harper, Chinese inflation, Chinese markets overnight, commodities inflation, crony capitalism, devaluation of dollar, emerging markets inflation, free trade agreement with South Korea, G-20 Summit in Seoul South Korea, global economy, Hu Jinatao and Barack Obama, inflation in China, inflation in emerging markets, Is the Fed independent, lack of credibility in United States, lack of trust between America and China, Larry Doyle, new world order, Obama rebuffed in Seoul, politicization of Ben Bernanke, politicization of Federal Reserve, quantitative easing impact, results of G-20 summit, skeletons in America's closet, sound external environment, the new world order, U. S. Wields Less Clout at Summit, U.S. economic house, value of Chinese renminbi, value of Chinese yuan, who is Lael Brainerd
Posted in General | 22 Comments »
Posted by Larry Doyle on November 2nd, 2010 9:08 AM |
Will there soon be a run on U-Hauls in Washington DC?
Later this evening we will learn just how many incumbents in Washington are sent packing. In the process, we will assuredly hear from political pundits on both sides of the aisle as to what Americans are saying with their vote. In my opinion, we can dismiss the pundits and the politicians alike. While we are at it, we can throw a heap of cold water over the media as well. How so? Why’s this?
The simple fact is the rage coiling within the American populace has been developing for well over a year and today that rage will be released. The force multiplier of that rage will send a message to Washington and every corner of our great nation that Americans are beyond fed up with politics as usual and the crony capitalism that has flourished within that system. This rage is far different than anything I have ever witnessed in my lifetime. I highlighted it a year ago. While the reality of the rage was clearly evident in late 2009, our political representatives from both sides of the aisle did little to nothing to address it. Today they will pay the price for their lack of attention to the American public.
Let’s take a quick look back to the pulse of our nation in November 2009. Has that pulse remained the same? (more…)
Tags: america is outraged, americans feel disenfranchised, anti-incumbent fervor in America, Congressional elections November 2 2010, crony capitalism, disenfranchisement in america, failures within financial regulatory system, force multiplier in november 2 2010 vote, go vote, Goldman Sachs CEO LLoyd Blankfein, honesty and integrity in america, Jonathan Weil of Bloomberg, lack of transparency within our system, Larry Doyle, let freedom ring, media coverage of november 2 vote, midterm elections, moral decay within america, november 2 2010 vote, Obama redistribution, political pundits transalte the american vote define, populist rage in america, rage in america, referendum on obama november 2 2010, SEC MAry Schapiro, Sense on Cents, Susan Antilla of Bloomberg, Tea Party movement on november 2 2010, truth transparency and integrity, U-Hauls in Washington DC, Wall Street-Washington incest, Washington Wall Street incest, what are americans saying with their vote, what do americans feel, what's driving today's vote, what's fueling america's rage
Posted in General | 5 Comments »
Posted by Larry Doyle on October 21st, 2010 6:47 AM |
All hail the mighty and powerful Federal Reserve!!
Is that right?
Are we all supposed to bow down and prostrate ourselves at the throne of Ben Bernanke and assume he is ‘all knowing’? The fact is the Federal Reserve has assumed a mantle of being ‘all powerful’ but who in our country is willing to challenge the Federal Reserve? Are we supposed to merely turn over the economic fortunes of our nation and our children’s future to one individual and one institution without aggressively calling them on the carpet? What happened to the calls for increased Fed transparency? What happened to the pressure on the Fed to justify their actions? The silence is deafening.
Those with a degree of sense on cents understand and appreciate the following: (more…)
Tags: Ben Bernanke, crony capitalism, Fed's Summary of Economic Projections, federal open market committee, Federal Reserve, FOMC, Larry Doyle, QE2, quantitative easing by Federal reserve, Sense on Cents
Posted in General | 5 Comments »
Posted by Larry Doyle on June 14th, 2010 8:54 AM |
When the day of reckoning comes, the record will show that those misguided, incompetent and reckless legislators who supported and were supported by the house of cards known as Fannie Mae and Freddie Mac will have cost our nation untold hundreds of billions of dollars. In fact, the losses attributed to these organizations may ultimately cross the trillion dollar threshold. Think about that for a second.
While Franklin Raines, Leland Brendsel, Daniel Mudd, and other Fannie and Freddie execs walked out the door with tens of millions of dollars, our nation is left with a financial sinkhole that will serve as a drag on our economy for years if not generations. How and why did this happen? (more…)
Tags: composition of Fannie and Freddie portfolio, crony capitalism, Daniel Mudd, Edward Pinto, Fannie-Freddie Fix at $160 Billion with $1 Trillion Worst Case, Franklin Raines, future of Fannie and Freddie, future of housing, Housing Crisis, housing finance, Leland Brendsel, losses at Fannie and Freddie, Mark Hanson, Mortgage Crisis, mortgage defaults, mortgage delinquencies, mortgage foreclosures, mother of all bailouts, size of losses at Fannie and Freddie, socialized housing, Washington's financial illiterates
Posted in Fannie Mae, Freddie Mac, General | 4 Comments »
Posted by Larry Doyle on May 7th, 2010 11:30 AM |
The incest is over.
As much as Wall Street and Washington would like to project a sense that our economy is improving and the markets are merely fluctuating, the fact is America is learning more and more that the incest that has infiltrated our financial and economic structures has corrupted America in the process.
Incest does not do much for the participants’ reputations. The risk of a bad reputation remains the greatest risk of all. I see people on Wall Street now scrambling to repair that reputation. Who? (more…)
Tags: Blankfein rebuilding reputation, Blankfein Vows to Rebuilds Reputation, Congress reputation, Congressional Oversight Crippled by Institutional Amnesia, crony capitalism, Danielle Brian, Danielle Brian of POGO, financial and economic structures, Financial Industry Regulatory Authority, FINRA, Goldman Sachs annual meeting, Goldman Sachs reputation, is America corrupt, Lloyd Blankfein, Mary Schapiro, project on Government Oversight, regulators reputation, Wall Street Washington D.C. incest
Posted in General | 4 Comments »
Posted by Larry Doyle on May 7th, 2010 9:27 AM |
While the market is working to digest the better than expected Unemployment Report this morning, put the pom-poms away please. No, I am not negative on the report, I am calling bulls%*# on a crony capitalist system that allows for so-called market exchanges to develop and function as they did yesterday.
Fat finger (meaning a trade size was incorrectly entered)? I do not buy it. I think yesterday was nothing more than so-called liquidity providers engaging in high frequency trading, and taking investors to the hoop in a HUGE way. How so? (more…)
Tags: BATS, crony capitalism, FINRA, high frequency trading may 6 2010, how do markets work, how to trade a rigged market, is the market broken, is the market rigged, market chaos may 6 2010, market structure, market whipsaw, may 6 2010 price action in markets, NASDAQ, NYSE, rigged markets, SEC, structural problems in market, what happened in market may 6 2010
Posted in General, markets | 8 Comments »
Posted by Larry Doyle on May 4th, 2010 9:28 AM |
Land of the free, home of the brave.
No doubt, the United States of America is the greatest nation on the face of the earth. I love my country. I love hearing the stories of immigrants from all parts of the world who have come here to make a better life. Even though there is current concern around our immigration policy (or lack thereof), there exist endless numbers of stories of people making real sacrifice and, in turn, real progress for their families. I am inspired by these stories.
Despite all our greatness, I am extremely concerned that our nation will erode from within unless there is serious change in one very large corner of our political and economic landscape. What is it? (more…)
Tags: America's future, crony capitalism, fannie Mae and Freddie mac lobby, future of America, GSEs, our future, reform of fannie and freddie, Robert G. Wilmers, Robert Wilmers M&T Bank CEO, U.S. Congress, What About Fan and Fred Reform?
Posted in Fannie Mae, Freddie Mac, General | 2 Comments »
Posted by Larry Doyle on March 15th, 2010 12:51 PM |
Pricing power is everything.
What businessman wouldn’t like greater control and influence over the pricing of his goods and services? How are prices determined? In a capitalist system, prices are a function of the competitive forces of supply and demand. What happens when competition dwindles? Pricing power for the suppliers increases. How does competition dwindle? When barriers to entry are so high, or competitors go out of business. This economic reality is also known as an oligopoly and it defines the current state of our financial industry known as Wall Street.
Is Wall Street taking advantage of the lessened competition and flexing its muscle to drive revenue? Is the Pope Catholic? (more…)
Tags: capitalism, CNBC media appearance, crony capitalism, financial industry, financial lobby, FINRA, Goldman Sachs, Goldman Sachs Demands Collateral It Won't Dish Out, JP Morgan, oligopoly, over the counter derivatives, pricing power, Richard Lindsey, Street Signs, to the victors go the spoils, TRACE, Wall Street, Wall Street collusion, Wall Street lobby, Wall Street oligopoly
Posted in General, Goldman Sachs, JP Morgan, oligopoly, Wall Street | 2 Comments »
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