RSS Feed
Twitter
Facebook
Email
HomeObama Presidency, 01.21.09 — 11.15.13: R.I.P
Posted by Larry Doyle on November 15th, 2013 9:53 AM |
“Oh what a tangled web we weave, when first we practice to deceive.”
Sir Walter Scott, in Canto VI Stanza 17 of “Marmion” (1808)
I do not think I can count the number of times that I have actually written the specific words, “truth, transparency, and integrity” at my blog over the last 5 years. When I write those words and the importance of putting them into practice, I actually mean them.
Regrettably, far too much that emanates from Washington on both sides of the aisle bears little resemblance with those virtues. Collectively we suffer tremendously as a result.
Before commenting on our President’s attempted Hail Mary, administration-saving pass delivered yesterday, I would like to pose a question to those who might read this post. Have you ever worked with or for an individual for whom telling the truth is secondary to advancing his/her own personal agenda? I have. (more…)
From the Archives: Stifling the Truth Is Abuse of Capitalism
Posted by Larry Doyle on October 1st, 2012 6:14 AM |
Given the strong and varied response to a few of my most recent commentaries, I thought it may be insightful to take a look back into the archives. In September 2011, I took a bit of a sabbatical from writing. I would like to rerun the first post back from that break which ran in early October 2011. Has anything really changed from where we were a year ago this week? I think not.
In fact, I think the issues our nation has in finding, embracing, and revealing the truth are now more troubling than ever. What does that say about us as a people and a society? One reader the other day equated us to mushrooms being “fed manure and kept in the dark.” With no desire to sit idly by being fed a daily dose of dung, I welcome the challenge of continuing to pursue the truth as we navigate the economic landscape. LD
From the archives written here at Sense on Cents on October 6, 2011
Information is everything.
Access to information combined with fair and open markets are cornerstones of our free market capitalist system. With our economy continuing to lag, I have witnessed an increase in the stifling of the truth. (more…)
President Obama, “Are You In?”
Posted by Larry Doyle on May 25th, 2011 7:57 AM |
Information is everything.
Regular readers of Sense on Cents are well aware of my having written that statement on many an occasion. Those on Wall Street who gain early access to critical information have a decided advantage. Those in Washington who gain the upper hand in controlling the flow of information are also at a decided advantage.
As these realities become ever more prevalent, Americans and people worldwide are working harder and digging deeper to attain unbridled access to information in order to determine the truth and promote transparency. With major media outlets often failing us in these pursuits, where do we turn for this information? The internet.
Against this backdrop, I am not surprised to see political powers in Washington accept and embrace the reality of the power of the information superhighway and put an ‘eye in the sky’ in order to monitor the traffic. To what do I allude? (more…)
Judge Rakoff Throws Out BofA’s Hypocrisy
Posted by Larry Doyle on January 5th, 2010 8:40 AM |
Judge Jed Rakoff
The economic landscape of 2009 remains littered with amazing stories and tales yet to be told. Sense on Cents would hope that all these stories generate a full dose of truth, transparency, and integrity.
To eliminate the hypocrisy presented by the financial industry, America needs more arbiters like Judge Jed Rakoff. Let’s review recent developments in the merger of then failing Merrill Lynch with Bank of America.
Were the multiple billions in bonus payments accelerated to Merrill Lynch executives in late 2008 anything short of a total misappropriation of taxpayer funds at large and Bank of America shareholder funds specifically? Did BofA executives conveniently look the other way as Merrill “robbed the bank?” This point of debate is the central premise of the current court proceeding being heard by Judge Jed Rakoff.
BofA very conveniently did not include details of the Merrill bonus payments in pre-merger disclosure materials. What is BofA’s argument for that oversight? Yesterday, BofA attorneys made the case that its shareholders should have been aware of these bonus payments from media reports. Interesting. The media becomes the punching bag for not properly reporting, and now BofA attorneys use the media as a punching bag for reporting. Is this a joke or what?
How did Judge Jed Rakoff respond to such a ‘reach’ defense? (more…)
