Posts Tagged ‘Elizabeth Warren’
Posted by Larry Doyle on July 9th, 2014 9:59 AM |
“Our current cronyism is not the property of one political party or the other. As with any cancer, it does not care who it attacks or where it spreads. In the process of unearthing and exposing these crony Wall Street- Washington paths, we have come to learn that large numbers from both political parties, their well-heeled financial benefactors, and many of our financial regulators, all sit on one side of the table while the general investing, consuming, and taxpaying public — along with a large percentage of Wall Street’s own employees — sit on the other.”
page 187, In Bed with Wall Street: The Conspiracy Crippling Our Global Economy
A full 6 years from the onset of our ongoing economic crisis, I remain convinced that our nation’s markets and economy remain burdened by the cancer that metatstatized from the corrupt Wall Street-Washington dynamic.
I stated as much in my book as quoted above.
Many have asked me if the current crisis was not enough to excise this cancer what might it take. Another crisis? (more…)
Tags: crisis, Dodd-Frank, Elizabeth Warren, financial reform, financial regulatory reform, FINRA, in bed with Wall Street, Pope Francis cleans up Vatican Bank, SEC, Vatican Bank downsized, waht will it take for real reform, Wall Street and Washington
Posted in Dodd Frank, General, leadership, reform | 6 Comments »
Posted by Larry Doyle on July 18th, 2011 9:10 AM |

What is your mental image of a business which earns a 300% annualized rate of interest?
Did somebody say, “shady characters hanging out on a street corner with a large wad of bills”?
Who said, “guys driving around in cars with dark tinted windows”?
How about, “typical loan sharks”? Perhaps all of the above?
Is there a legitimate business in our nation today which might be able to charge a 300% annualized rate of interest? Well, I guess that would depend on how one defines legitimate. I think it would be safe to say that if you are doing business with somebody who charges a 300% annualized rate of interest, you would want to be VERY CAREFUL. What type of business has got these kind of rates? (more…)
Tags: auto loans, automotive predatory lending, Borrower Nightmares $700 Costs Family Its Car, car loans, car title lending, car title loans, Center For Public Integrity, CFPB, Elizabeth Warren, Fast Auto Loans, Fast Auto Loans business model, Fast Auto Loans in Virginia, how do car title loans work, how does Fast Auto Loans work, Ira Rheingold of National Association of Consumer Advocates, loan sharks, Mildred Morris of Martinsburg West Virginia, ned for Consumer Financial Protection Bureau, need for CFPB, need for consumer financial protections, predatory lending, rip offs, short term loans, the need for the CFPB, what is a car title loan, where to get a short term loan o get, who is Mildred Morris
Posted in General | 5 Comments »
Posted by Larry Doyle on July 17th, 2010 11:20 AM |

Elizabeth Warren
Truth, transparency, and integrity!
If our nation is to have any chance to recover from the throes of the worst economic crisis since the 1930s, it had better start elevating and embracing these aforementioned virtues. Time and time again, when we review business practices and political decisions at the center of our crisis, we have seen a glaring lack of these prized virtues. Why and how were these principles compromised? The pursuit of short term profit. Regrettably, this pursuit came at the expense — if not total violation — of these principles. The ultimate long term costs are now being borne by the nation as a whole.
Sense on Cents abhors those who would compromise these core values. Similarly, Sense on Cents embraces those who cherish these values. To that end, I strongly endorse Elizabeth Warren to head the Consumer Financial Protection Agency. (more…)
Tags: Barack Obama, CFPA, costs vs profits, does Wall Street own Washington, Elizabeth Warren, Elizabeth Warren Tim Geithner, Huffington Post, Larry Doyle, President Obama, pursuit of integrity, pursuit of transparency, pursuit of truth, Sense on Cents, short term profits vs long term costs, Tim Geithner Opposes Nominating Elizabeth Warren to Lead New Consumer Agency, Treasury Secretary Tim Geithner, Wall Street-Washington incest, what is CFPA, who will head CFPA, who will head Consumer Financial Protection Agency, who will Obama select to head CFPA for
Posted in Elizabeth Warren, General, Tim Geithner | 4 Comments »
Posted by Larry Doyle on May 26th, 2010 9:14 AM |
Does anybody still read Time magazine?
I would expect that Time is likely now relegated to 9th grade Civics classrooms given the depth of reporting embodied in the recent cover article, The New Sheriffs of Wall Street.
If Time would like to be considered a serious publication, they should dig a little deeper prior to reporting this sort of powder puff commentary. Time rightfully does address the fact that Wall Street has been a bastion of male domination. Additionally, they pay proper respect to FDIC Chair Sheila Bair and Tarp watchdog and consumer advocate Elizabeth Warren, but they fall woefully short in their characterization and review of SEC Chair Mary Schapiro.
In this article, Schapiro would clearly like to portray herself as tough as nails on Wall Street while protecting the interests of investors. As Time highlights: (more…)
Tags: Bloomberg Susan Antilla, Elizabeth Warren, FINRA, finra liquidation of ars, how Does It Help Investors, Judge Jed Rakoff, Mary Schapiro, Mary Schapiro tenure at FINRA, Muammar Gadaffi Kim Jong-il Bashar Al-Assad Robert Mugabe, Muammar Gaddafi of regulation, NASD, Office of Compliance Inspections and Examinations, SEC OCIE, Sheila Bair, Standard Chartered v FINRA, The New Sheriffs of Wall Street, This Wall Street Lady Enforcer Shoots Blanks, Time Magazine
Posted in General, Mary Schapiro | 5 Comments »
Posted by Larry Doyle on April 14th, 2010 10:10 AM |
Charity is one thing. Throwing good money after bad is an entirely different can of worms.
Is the Obama administration’s housing policy trying to be charitable in support of those who have truly fallen on hard times and need government assistance, or is it more redistributing wealth to those who made unwise financial decisions from the outset? Do Obama and team know the difference? (more…)
Tags: 12th Street Capital, Barney Frank, cash out refis, consumer credit problems, Elizabeth Warren, Foreclosure-Prevention ProgramStruggles to Make Impact, HAMP, jeb Hensarling, loan modifications, Mortgage Crisis, mortgage foreclosures, Obama Administration, Obama housing policy, redistributing the wealth, Sense on Cents, sub-prime mortgage lending, wealth redistribution by Obama, you are a sucker
Posted in General, Housing Crisis, Mortgage Crisis, Mortgages | 4 Comments »
Posted by Larry Doyle on April 11th, 2010 7:08 AM |
UPDATE: This episode of NQR’s Sense on Cents with Larry Doyle has concluded. You can listen to a recording of the episode in its entirety by clicking the play button on the audio player provided below. Once the audio begins, you can advance or rewind to any portion of the episode by clicking at any point along the play bar.
I am thrilled to have James Kwak join me this evening, April 11th, from 8-9pm ET on No Quarter Radio’s Sense on Cents with Larry Doyle.
If Wall Street banks are ‘too big to fail,’ what is America to do? While those on Wall Street fight to maintain their power base and those in Washington deal with their conflicted interests between Wall Street and Main Street, two individuals lay out a very simple solution.
Simon Johnson and James Kwak convincingly answer that if banks are in fact ‘too big to fail,’ then ‘make them smaller.’ Johnson and Kwak highlight this reality and so much more in 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown, a book that was just released but will surely sweep the country. The reviews so far are off the charts. Kwak and Johnson are widely followed at their site Baseline Scenario, which, in my opinion, is the most well written and informative financial and economic website in the blogosphere. (Sense on Cents being a close second!!)
What are people saying about 13 Bankers? Well, let’s stop and start with Elizabeth Warren, Professor of Law Harvard Law School and Chair, TARP Congressional Oversight Panel. She writes:
“The best explanation yet for how the smart guys on Wall Street led us to the brink of collapse. In the process, Johnson and Kwak demystify our financial system, stripping it down to expose the ruthless power grab that lies at its center.”
My interview with James Kwak this evening is a can’t miss. Please spread the word to friends and colleagues. Listen to the show LIVE at the BlogTalkRadio website. Share your thoughts and questions by calling (347) 677-0792, or mix it up in the chat room with an always energized group. As a reminder, all of my radio shows are archived and previous episodes can be listened to right here at Sense on Cents by clicking on the No Quarter Radio tab. (FYI, I keep an audio player of my most recent episode in the right sidebar). In addition, all No Quarter Radio programming is available as a free podcast on iTunes. From the iTunes Store, type “NQR podcasts” in the search window.
LD
Tags: 13 Bankers, 13 Bankers Sherman anti-Trust, 13 Bankers The Wall Street Takeover and the Next Meltdown, Baseline Scenario, Elizabeth Warren, historical review of economic crisis, how did economic crisis develop, if banks are too big to fail make them smaller, interview with James Kwak, james Kwak, james Kwak interview on Sense on Cents, James Kwak interview with larry doyle, No Quarter Radio Sense on Cents with Larry Doyle Welcomes James Kwak, review of 13 Bankers, Simon Johnson, Thomas Jefferson Teddy Roosevelt 13 Bankers, too big to fail, what happened to develop economic crisis
Posted in General, No Quarter Radio, Sense on Cents | 4 Comments »
Posted by Larry Doyle on March 4th, 2010 12:33 PM |
According to testimony this morning from Treasury official Herb Allison, currently charged with overseeing the management of the TARP, there are no financial firms now guaranteed as ‘too big to fail.’
What rock did Herb just crawl out from?
The Wall Street Journal addresses Herb’s ridiculous comment in writing, Treasury Official: ‘No Too Big to Fail Guarantee’ for Big Financial Firms:
There is no U.S. government guarantee to protect the largest financial firms, a Treasury Department official said Thursday, as a congressional watchdog criticized the $45 billion in government aid provided to Citigroup Inc. (more…)
Tags: Allison Congressional testimony March 4 2010, Citigroup Vikram Pandit Congressional testimony March 4 2010, Damon Silvers, Elizabeth Warren, Fannie Mae, Freddie Mac, herb allison, Herbert Allison, TARP, tbtf, too big to fail, Treasury Official:'No Too Big to Fail Guarantee' for Big Financial Firms, U.S. Treasury, U.S. Treasury Herb Allison testimony March 4 2010
Posted in General, U.S. Treasury | 1 Comment »
Posted by Larry Doyle on February 11th, 2010 9:34 AM |
The initial Bank Stress Tests run by Treasury Secretary Geithner were largely a sham. I questioned as much last April in writing, “Bank Stress Tests: Major Sham?”:
As with any test, the results are only meaningful if the process and proctor have unquestioned integrity. The proctors for the Bank Stress Test are none other than Treasury Secretary Tim Geithner and Fed chair Ben Bernanke. Why is a testing authority of the magnitude of FDIC, led by Sheila Bair, not more involved in the process? Ms. Bair is the one individual in our country with the greatest level of interaction with and understanding of the student body, that being the banking industry as a whole and individual banks specifically.
What does the FDIC, led by Ms. Bair, have to say about the upcoming Bank Stress Tests? The New York Post provides a CHILLING perspective: (more…)
Tags: Bank Stress Tests, banks, Barack Obama, Ben Bernanke, commercial real estate, community banks, CRE, Elizabeth Warren, FDIC, lack of bank transparency, losses on commercial real estate, Sheila Bair, stress tests, Tim Geithner
Posted in Bank Stress Test, General | 6 Comments »
Posted by Larry Doyle on February 9th, 2010 8:37 AM |

Elizabeth Warren and Jamie Dimon
How is it that some people are able to aggressively promote the virtues of truth, transparency, and integrity within our financial system while others would seem to talk a good game but do not truly walk the walk? The key, in my mind, is that the former are not beholden to a constituency focused on short term maximization of profits and revenues. Who is distinguishing herself as a leader in this category? Elizabeth Warren, the current chair of the Congressional Oversight Panel to investigate the U.S. banking bailout.
Warren writes in today’s Wall Street Journal of Wall Street’s Race to the Bottom. This race is very much a function of implementing strategies and developing products that have served to maximize the short term revenues of these firms, while eroding the very foundation of the financial system itself. (more…)
Tags: CFPA, Consumer Financial Protection Agency, Elizabeth Warren, FHFA, financial regulators, FINRA, fiscal transparency, Jamie Dimon, Jamie Dimon JP Morgan CEO o, maximizing revenues, OCC, OTS, SEC, short term profits vs long term prudence, transparency, Wall Street boards, Wall Street Journal Wall Street's Race to the Bottom, Wall Street's Race to the Bottom, who is Elizabeth Warren
Posted in General | 7 Comments »