Posts Tagged ‘Tom Lauria’
Posted by Larry Doyle on January 12th, 2012 9:50 AM |
While driving my truck this morning and listening to Bloomberg Radio, I almost gagged on my coffee and pictured my vehicle lurching into a ditch.
What caused my knee jerk reaction? Let me set the table as to what I heard, what prompted my thinking “You have got to be kidding me”, and why I feel compelled to write this commentary today.
I believe it is a foregone conclusion that the Republican Party will critique the Obama administration for failing to bring meaningful “change” in how Washington operates. I am not so sure the Republicans should be so quick to play that card.
In a similar fashion, we already see political interests from both ends of the spectrum attacking Mitt Romney—whom I believe is the presumptive Republican nominee—and the tenets of free market capitalism embedded within private equity and venture capital. (more…)
Tags: attack on Mitt Romney, attack on private equity, attack on venture capital, attacks on Romney, auto industry saved by Obama administration, change you can believe in, Chrysler bailout, hope and change, how does obama define change, is this what change looks like, is this what change looks like for president obama, Larry Doyle, Obama campaigning in Chicgao January 11, obama's change, Obama's saving of auto industry, press doing White House's dirty work, Sense on Cents, Steven Rattner, Tom Lauria, White House threatened Chrysler creditors
Posted in General | 3 Comments »
Posted by Larry Doyle on June 6th, 2011 7:41 AM |
This past Friday’s unemployment report was beyond disappointing. With non-farm payrolls increasing by a token 54,000 and the prior month’s report indicating a downward revision of 12,000 our ‘walking pneumonia’ economy continues to languish under the weight of excessive debts and grave uncertainties. What is an administration to do when faced with such a challenge? Spin, baby, spin.
Where do I witness this spin cycle working in overdrive? The Obama administration’s touting of success in saving our automotive industry. There is little doubt that the Obama team will be ‘driving’ this ‘saving’ of the automotive industry hard as part of his 2012 reelection platform. (more…)
Tags: automotive bankruptcy, bailing out Detroit, bankruptcy proceedings in Chrysler, Barack Obama and Tony Soprano, car czar Steven Rattner, cost of automotive bailout, david Skeel o fthe University of Pennsylvania, definition of naive, General Motors and Chrysler, indirect cost of automotive bailout, non farm payroll report June 3 2011, Obama in Toledo, picking winners and losers, rules of bankruptcy, saving the auto industry, spin baby spin, Toledo Chrysler plant, Tom Lauria, Tom Lauria interview with Frank Beckmann, tom Lauria radio interview, trampling capitalism, trampling of capitalism and Constitution, walking pneumonia economy, White and Case, who is David Skeel, who is Tom Lauria
Posted in Auto Industry, General | 3 Comments »
Posted by Larry Doyle on March 11th, 2010 9:31 AM |
Does crime pay on Wall Street?
When those implicated in ‘pay to play’ schemes on Wall Street are not dealt with in truly appropriate fashion, everybody loses. Why? We end up with a loss of confidence not only in the markets, but even moreso a loss of confidence in our judicial system. I am not so naive as to think that our fields of justice are level, but that doesn’t mean we should not pursue that goal and highlight inequities when and where we see them.
Those engaged in financial crimes or schemes including ‘pay to play’ should never be able to buy their own justice by writing a check. That system of justice will never truly dissuade those engaged in or attracted to ‘pay to play.’
I see a strong sign of just such a potential inequity this morning. It smells. (more…)
Tags: car czar Steven Rattner, Chooch, David Loglisci, does crime pay, due process, Hank Morris, Jamie Gorelick, pay to play, Quadrangle Group, Rattner in Talks to Settle a Probe, SEC, Steven Rattner, Steven Rattner Andrew Cuomo, Tom Lauria, Wall Street justice, white collar crime on Wall Street, William McLucas
Posted in Auto Industry, General, Steven Rattner | 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 May 2nd, 2009 11:07 AM |
“One of my clients was directly threatened by the White House.”
That’s a quote, folks, from a lawyer representing firms which lent Chrysler money on behalf of their clients, including pension funds, teachers, labor unions, college endowments, et al.
Threatening creditors may be common practice in the underworld. In the world of business and politics, commonly accepted rules of law, business practices and ethics are widely accepted and adjudicated by the courts to prevent abuse. Did the White House just abuse the Constitution in the process of engaging Chrysler’s non-TARP creditors? Tom Lauria, an attorney with White & Case representing a few non-TARP Chrysler creditors, believes the White House did exactly that.
The 10 minute interview (link provided at end of story) that Lauria gave yesterday morning to Detroit radio station WJR’s Frank Beckmann is a MUST LISTEN. (UPDATE: We now have a YouTube audio of the Frank Beckmann-Tom Lauria radio interview. THANK YOU Paul V!!)
Lauria offers, “I represent one less investor today than I represented yesterday. One of my clients was directly threatened by the White House and in essence compelled to withdraw its opposition to the deal under the threat that the full force of the White House press corps would destroy its reputation.”
Wow!!! Is the press corps so in bed with the White House that it will do its dirty work? Will other creditors fall in line under the pressure of this threat? Is Lauria’s analysis credible?
I believe the answer to all of these questions is yes!!
In my April 2009 Market Review: Brave New World I wrote:
Companies, consumers, and investors will be forced to adapt to a regular presence of Uncle Sam. He is not a good business partner.
Our economic landscape just entered a whole new realm. I strongly recommend that you listen to the audio recording of Frank Beckmann’s interview with Tom Lauria (special thanks to Daisyjane for the link).
UPDATE: Here’s the YouTube audio so you don’t have to leave this site. Thank you, again, to Paul.
LD
See also: “White House uses strong arm tactics to extort concessions from lenders,” via Memeorandum.com.
Tags: Chrysler creditors hold out under threat by White House, Frank Beckmann interview with Tom Lauria, non-TARP Chrysler creditors, Obama administration threatens Chrysler creditors, Obama administration threatens lenders, Perella Weinberg threatened by White House, Perella Weinberg threatened over Chrysler, Tom Lauria, Tom Lauria of White & Case, tom Lauria radio interview, Tom Lauria says White House threatens clients, White House press corps, White House threatens Chrysler creditors, White House threatens lenders, WJR interview with Tom Lauria, WJR Radio interview
Posted in General | 3 Comments »
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