Author Archive

Did Mary Schapiro Engage in a Fraud? »

Will we learn in 2012 if Mary Schapiro, current chair of the SEC, and other then senior executives at the Wall Street self-regulatory organization, FINRA, engaged in a fraud? The case addressing this question, Standard Chartered v FINRA, has been appealed to the highest court in our land. As such, one might think that most [...]

Is This What President Obama’s ‘Change’ Looks Like? »

 * Bumped Up * While driving my truck and listening to Bloomberg Radio, I almost gagged on my coffee. What caused my knee jerk reaction? Let me set the table as to what I heard, prompted my thinking, “You have got to be kidding me,” and why I feel compelled to write this commentary today. [...]

SEC Attorney Darcy Flynn Blows Whistle on Wall Street-Washington Incest….MUST READ… »

BOMBSHELL!!! Since early 2009 I have written at length about the regulatory capture that has dominated the financial industry. I have defined this concept in layman’s terms as the Wall Street-Washington incest. Today a close friend and regular reader of Sense on Cents shares a story which blows the cover off this incest. This story [...]

Breaking: S&P Downgrades United States »

From contributing writer Larry Doyle‘s blog, Sense on Cents. The Wall Street Journal is reporting that Standard & Poors has just downgraded the credit rating of the United States from a AAA rating. This is a HUUUUGE story. What do I see as the implications? 1. Short term lending markets will get tighter and activity [...]

Very Disturbing UPDATE: Student Loan Bubble and Seeking Arrangements »

I have a soft spot for those within our society whom I believe are preyed upon and ultimately victimized by the perils and pitfalls of modern day finance. I fully appreciate that people need to be held responsible for their personal behaviors and decisions, but we need to acknowledge that the tangled financial web that [...]

‘Mad as Hell, and Not Going to Take It Anymore’ »

From my blog, Sense on Cents: If this 5-minute video clip does not capture the spirit and rage that is boiling in our nation, I do not know what does. I thank the regular reader who shared this with me. I commend Jim Garvin for standing up, speaking out, and sharing a healthy dose of [...]

Jim Cramer: “The SEC Isn’t Watching the Store” »

I will readily admit I am not a big fan of CNBC’s Jim Cramer. Perhaps it is more Jim Cramer’s style than his substance but for whatever reasons, I very rarely watch his show or follow his work. I will also readily admit I am a HUGE fan of Themis Trading’s Joe Saluzzi. Based upon [...]

‘Murdoch’s Watergate?’: “The Most Important Story in the World in the Last 25 Years” »

Although I write primarily on issues directly relating to finance and the economy with a particular focus on investor education and investor protection, when “the most important story in the world in the last 25 years” comes along, as Carl Bernstein has asserted, I am compelled to address it. I have been busy since January [...]

Canada Generates Surprisingly Strong Job Growth »

While the United States licks its economic wounds and the Obama administration struggles to spin the anemic jobs report, we do not need to look far for positive employment news. Where should we look? Northward, as our friends in Canada are thriving compared to the struggles we are experiencing. Let’s navigate and review the Financial [...]

Why Might The Fed’s Party Be Over? »

Over the last few years I have highlighted the fact that the deflationary impact of declining wages and home values gave cover to the Federal Reserve for maintaining an excessively easy monetary policy and pumping up asset prices via quantitative easing. That party would now seem to be over. Why? There is no doubt that [...]

Did Wall Street Violate the Racketeering Act? »

I want to thank a regular reader for prompting me to tune into 60 Minutes this past Sunday evening. Watching CBS’s Scott Pelley evidence how Wall Street banks knowingly and fraudulently engaged in forging mortgage documents made me cringe and vomit as I thought of just how low these financial institutions have sunk in terms [...]

Will March 11th Bring “Day of Rage” in Saudi Arabia? »

– From our friends at the Sense on Cents blog. Tunisia, Egypt, Libya. What nation is next on the hit parade of social unrest in the Middle East? Could it be the oil exporting nation of Saudi Arabia? What would civil unrest in that nation mean to the price of oil and oil-related products worldwide? [...]

Oscar Winner Charles Ferguson Rips Wall Street and Washington »

“Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail, and that’s wrong.” With those words on Sunday evening, Charles Ferguson, the winner of the Academy Award for Best Documentary for his film Inside Job, did [...]

America Needs to Stop The Lies and The Liars »

Real long term success and greatness are founded upon the principles that people do not lie, cheat, or steal. Our nation is neither succeeding nor is great at this point in time because we have allowed these vices to grow and spread throughout our society. Shame on us. Our nation does have the potential to [...]

Obama’s Conundrum »

Cut the deficit? Promote jobs? Stimulate the economy? Get re-elected? What’s a President to do? In the short term, is there any doubt that Barack is fully supportive of Ben Bernanke’s ongoing backdoor bailouts and bubbling up of the market via his quantitative easing programs? Ben made no bones about his utilizing asset inflation as [...]