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HomeTo Wall Street, Washington, and World: “Fool Me Once…
Posted by Larry Doyle on March 11th, 2010 2:08 PM |
…shame on you, fool me twice, shame on me!!!
There are a handful of financial journalists who pull no punches in telling the absolute truth and in providing real transparency. Bloomberg’s Jonathan Weil holds a special spot in the Sense on Cents Hall of Fame for his determination in calling people and institutions on the carpet. From Wall Street to Washington to around the global financial landscape, Weil leaves no stone unturned in promoting integrity. His commentary today is superb. Please share it with friends. Weil writes, Greece Lifts a Page From Citigroup’s Playbook:
Is it too much to ask for the world’s titans of government and finance to speak credibly when they open their mouths? (more…)
Tags: Ambac Financial, balance sheets, Bear Stearns, Ben Bernanke, cds in europe, credit default swaps in europe, Dick Fuld, Fannie Mae, financial regulatory reform, fool me once, Freddie Mac, GAO, George Papandreou, Greece, Greece Lifts a Page from Citigroup's Playbook, Hank Paulson, herb allison, jonathan Weil, Lehman Bros, rating agencies, SEC, Sense on Cents Hall of Fame, too big to fail, transparency, Treasury, Vikram Pandit
Posted in General | 2 Comments »
FROM THE ARCHIVES: The Wall Street Model Is Broken…and Won’t Soon Be Fixed!!
Posted by Larry Doyle on March 5th, 2009 6:37 PM |
Some of my favorite movies are The Sting, Rocky, and Papillon. I could watch those films a few times a year and appreciate the plot, character development, and climax.
In that same vein, for newer readers here at Sense on Cents, I want to highlight a piece I wrote on November 12, 2008. I believe this piece is as clear cut an historical explanation as I have seen to highlight the background of the debacle on Wall Street which precipitated this economic disaster. I also find it interesting as to my comments about potential market reaction to an aggressive tax/spend program under President Obama and a Democratic Congress.
I hope you find this article informative and enlightening: (more…)
Tags: AIG, asset-backed market, Bank of America, Bear Stearns, Bernanke, capital, CDS, Centex, China, collateralized mortgage obligation, Countrywide, Fannie Mae, financial quants, Freddie Mac, Hedge Funds, JP Morgan, Lehman Bros, Merrill LYnch, National City Bank, originate to distribute, Paulson, Pulte Homes, rating agencies, Ryland, SEC, Sheila Bair, walll Street
Posted in American Consumers, Auto Industry, Bad Bank, Bailout, Bank of America, Banking Institutions, Barack Obama, Barney Frank, Ben Bernanke, Business, China, Christopher Dodd, Commerce, Congress, Wall Street | 5 Comments »
