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Posts Tagged ‘Wall Street leverage’

5 years After Lehman: Has Anything Really Changed?

Posted by Larry Doyle on September 10th, 2013 7:07 AM |

The more things change, the more they stay the same.

For those in and around Wall Street and Washington who pretend that there has been meaningful change in the issues that brought about our crisis in 2008, I have endless archives to highlight all too much remains the same.

Rather than diving into the archives, though, let’s navigate a Bloomberg commentary that qualifies as a Sense on Cents instant classic (and would serve as a fabulous promo for my upcoming book).

The simple fact is both Wall Street and Washington remain very much the same as details within Banks Seen at Risk Five Years After Lehman Collapse attest. What is Wall street currently?  (more…)

Hank Paulson: The Wolf in Sheep’s Clothing

Posted by Larry Doyle on April 9th, 2013 10:07 AM |

Have you ever encountered an individual who seems to be so ingratiating that you are immediately attracted to him and desire to learn more of what he has to offer?

I would imagine that many who frequent this blog have been in meetings or other situations where a strong willed, dynamic leader lays out a host of propositions that would have everybody in attendance salivating for more; however, once having set the table so to speak, the leader quickly and surreptitiously delivers a powerful message incorporating proposed enormous changes so as to leave all in attendance wondering “what just happened here.” This scenario is often compared to the children’s fable The Wolf in Sheep’s Clothing.

As I continue to navigate back through the annals of Wall Street while working on my book (In Bed with Wall Street to be released in early 2014 by Palgrave/MacMillan…sorry for the shameless plug) I recently came across testimony from then Goldman Sachs CEO Hank Paulson that struck me as a quintessential example of this aforementioned simple story of deceit.  (more…)

Price Fixing on Wall Street?

Posted by Larry Doyle on April 9th, 2010 11:16 AM |

Lessened competition in any industry will lead to wider margins and greater revenue and profit opportunities.

Wall Street circa 2010 is certainly a dramatically changed landscape with significantly lessened competition. Is Wall Street today an honest display of capitalism in which ‘to the victors go the spoils’? Or is Wall Street an oligopoly which is using its increased power and leverage to control, if not outright fix, prices for products and services?

In the midst of all the other issues Washington is facing, I think there is very little focus on this topic, but we overlook it at our peril. Why? Price fixing, or iterations thereof, is nothing more than a vehicle to transfer wealth from consumers to providers. (more…)

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