Category: Economy-Federal Agencies
By Larry Doyle on Jan 15, 2012 in Current Affairs, Economy, FINRA, SEC, Sense on Cents (Larry Doyle blog), Wall Street | View Comments
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 [...]
By Rabble Rouser Reverend Amy on Jul 21, 2011 in Afghanistan, Bailouts, Congress (House & Senate), Crime, Current Affairs, Deficit, Economy, Egypt, Foreign Aid, Governance, Pakistan, SEC, State Department | View Comments
The old Ben Franklin adage, is apparently one with which our government is unfamiliar. Just within the past few days, three major wasteful decisions have come to light. The first is in the State Department. This wasn’t just a wasteful decision, but an unethical, immoral, and I have to hope, illegal one. Within the State [...]
By Rabble Rouser Reverend Amy on Jul 5, 2011 in Backfire, Current Affairs, Economy, Economy-Federal Agencies, Hoodwinking, Stimulus Plan | View Comments
That would be the cost of each new job saved by the $666 billion dollar stimulus. A bargain it most definitely was not. But can we just pause for a moment as we look at this figure – 666? I mean, really – can this be a coincidence that the number for the Anti-Christ is [...]
By Larry Doyle on Oct 31, 2010 in Barney Frank, Christopher Dodd, Current Affairs, Democratic Party, Economy, FINRA, Fannie Mae, Franklin Raines, Housing & Housing Crisis, Mortgage Crisis, Sense on Cents (Larry Doyle blog) | View Comments
The Wall Street-Washington incest MUST end. This coming Tuesday, America has a chance to ring that bell, expose that incest, cleanse the system, and deliver the message loud and clear. The peal of that bell must emanate from the 4th District in the state of Massachusetts. You do not need to read Sense on Cents [...]
By Linda Anselmi on Aug 27, 2010 in Barney Frank, Christopher Dodd, Elizabeth Warren | View Comments
Last month President Obama signed into law the Financial Regulatory Reform bill that left us Surrendering to the Worst. But one of the very few positives of that bill was the formation of a consumer financial protection bureau to oversee some of the worst lending practices that contributed to the housing bubble and collapse. The consumer protection bureau [...]
By Larry Doyle on Jul 22, 2010 in Bernie Madoff, Economy, SEC, Sense on Cents (Larry Doyle blog) | View Comments
“If my aunt had balls, she’d be my uncle!!” I love that line. I first heard it on the trading desk at Bear Stearns in the early ’90s. For the last twenty years, I have used the line often to counter those who would bemoan an outcome with the standard, “If only . . .” [...]
By Larry Doyle on Jul 17, 2010 in Economy, Economy-Federal Agencies, Elizabeth Warren, U.S. Treasury | View Comments
Truth, transparency, and integrity! If our nation is to have any chance to recover from the throes of the worst economic crisis since the 1930s, it had better start elevating and embracing these aforementioned virtues. Time and time again, when we review business practices and political decisions at the center of our crisis, we have [...]
By Rabble Rouser Reverend Amy on Jun 30, 2010 in Chicago politics, Crime, Current Affairs, Obama Administration, Obama Comrades, President Barack Obama, Tim Geithner, U.S. Treasury, Unions | View Comments
How is it there are so many people in government who forget to pay their taxes? As it is, federal employees owe the US Government over $3 BILLION in unpaid taxes. But how is it that Obama keeps picking people to be in his Administration who “forget” to pay their taxes? I don’t get it. [...]
By Larry Doyle on Jun 30, 2010 in Economy, SEC, Sense on Cents (Larry Doyle blog) | View Comments
Thanks very much to a regular reader of Sense on Cents for sharing a fascinating story. The Government Accountability Project just released the following story regarding a significant settlement paid by the SEC to a former SEC attorney Gary Aguirre. This story highlights the Wall Street-Washington incest to the ‘nth’ degree. Will the media pick [...]
By Larry Doyle on Jun 16, 2010 in Current Affairs, SEC, Sense on Cents (Larry Doyle blog) | View Comments
Any employee in any organization knows that an internal disciplinary double standard is the quickest way to kill morale. Happens all the time, right? Likely even worse in organizations with lots of bureaucracy? Uncle Sam would not know how to operate otherwise, you say? The answers to all those questions may be the affirmative, but [...]
By Rabble Rouser Reverend Amy on May 11, 2010 in Bailouts, Christopher Dodd, Congress (House & Senate), Current Affairs, Democrats, Economy, Fannie Mae, Freddie Mac, Governance, Housing & Housing Crisis, Mortgage Crisis, National Debt, Tim Geithner, U.S. Treasury, treasury department | View Comments
And Fannie Mae are not included in the big Financial Reform Bill? I am just curious since they helped create this economic situation in which we find ourselves, and have drained billions of dollars from the coffers over the past couple of years. Now they want MORE. Oh, yeah – Freddie Mac is asking for [...]
By Rabble Rouser Reverend Amy on Apr 22, 2010 in Bailouts, Bank Bailouts, Banking Institutions, Banks, Ben Bernanke, Credit Risk, Current Affairs, Economy, FDIC, Infrastructure, SEC, Wall Street | View Comments
As Goldman Sachs continues to be in the news, this revelation could affect the SEC’s charges (h/t to HelenK for alerting me to this ): Testimony Could Undercut SEC Charge Against Goldman The government has testimony from a Paulson & Co. official that could contradict its own claims against Goldman Sachs, CNBC has learned. Paolo [...]
By Rabble Rouser Reverend Amy on Apr 16, 2010 in Banks, Ben Bernanke, Congress (House & Senate), Credit Risk, Current Affairs, Deficit, Democrats, Depression, Economy, George Bush, Health Care, National Debt, President Barack Obama, Unemployment/Jobs, Wall Street | View Comments
I think we are in for a world of hurt. So does Chairman Ben Bernanke:
By Larry Doyle on Mar 11, 2010 in Banks, Economy, Sense on Cents (Larry Doyle blog), U.S. Treasury | View Comments
How often have Americans heard politicians screaming at banks for not providing credit? How often have those same politicians and bank regulators informed us that they are working to have banks inject money into the economy to support Main Street? Regrettably, America deals with this pandering and posturing from our political leaders and regulators all [...]
By Larry Doyle on Mar 5, 2010 in Bailouts, Bank Bailouts, Banks, Citigroup, Economy, Sense on Cents (Larry Doyle blog), TARP, U.S. Treasury | View Comments
According to testimony yesterday from Treasury official Herb Allison, who is currently charged with overseeing the management of the TARP, there are no financial firms now guaranteed as ‘too big to fail.’ What rock did Herb just crawl out from? The Wall Street Journal addresses Herb’s ridiculous comment in writing, Treasury Official: ‘No Too Big [...]
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