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Bigger than Madoff? »

By Larry Doyle on Mar 31, 2009 in Economy, FINRA, SEC, Sense on Cents (Larry Doyle blog), Wall Street | 5 Comments

Each and every time I read a review of the Auction Rate Preferred Securities market, I come away thinking it was one enormous Ponzi scheme. Let’s review the facts as reported from a just published Bloomberg story of a $4.7 BILLION Settlement by Citigroup and Wachovia with California Auction Rate Investors: States, student-loan agencies and [...]

Will TARP Screw ARPS Even Tighter? »

By Larry Doyle on Mar 25, 2009 in American Consumers, Banking Institutions, Economy, FINRA, SEC, Sense on Cents (Larry Doyle blog), Wall Street | 6 Comments

I have written extensively how Wall Street perpetrated a billion dollar scam in the name of Auction Rate Preferred Securities (ARPS). For our newer readers, ARPS are securities funded by longer maturity underlying loans or preferred shares but marketed as short term cash or money market surrogates. How would that work? Wall Street ran very [...]

Turn That Screw a Little Tighter »

By Larry Doyle on Mar 13, 2009 in American Consumers, Economy, FINRA, Sense on Cents (Larry Doyle blog), Wall Street | 18 Comments

The screwing that Americans have taken on the development and marketing of the scam known as Auction Rate Preferred Securities (ARPS) continues. I have written at length on how the regulatory body, FINRA, actually owned $650 million in these securities at calendar year end 2006. I have persistently questioned how a regulatory body could possibly [...]

Charlie Rose Speaks to Tim Geithner »

By Larry Doyle on Mar 11, 2009 in American Consumers, Auto Industry, Bank Bailouts, Bank Nationalization, Banking Institutions, Barack Obama, Commerce, Congress (House & Senate), Credit Risk, Current Affairs, Economy, Equity Markets, FINRA, Lobbyists, Mortgages, Obama Administration, Republicans, Sense on Cents (Larry Doyle blog), Tim Geithner, Wall Street | 20 Comments

……………………………………………………………………………………………. ***Cross-posted from my blog, Sense on Cents. Come by and visit! ……………………………………………………………………………………………. I will provide my insights and perspectives on Charlie Rose’s interview of Treasury Secretary Tim Geithner last evening. The interview has been broken down into 6 separate clips, with my commentary preceding each clip.

No Quarter’s Dollars and Sense with LD & Open Thread »

By SusanUnPC on Jan 25, 2009 in American Consumers, Banking Institutions, Economic Stimulus, Economy, FINRA, No Quarter Blog, NoQuarter Radio, Obama Administration, SEC, Tim Geithner | 12 Comments

(bumped down because program has been aired. Click on the links to listen to the program via BTR, or use our easy directions in the right column to subscribe to NoQuarter Radio via iTunes) Please join us Sunday evening from 8:00 to 9:00 p.m. ET as we discuss a wide array of financial and economic [...]

“Will Be Held to Account….” »

By Larry Doyle on Jan 21, 2009 in American Consumers, Current Affairs, Economic Stimulus, Economy, FINRA, Obama Administration, SEC | 44 Comments

All eyes were fixed on Washington on Tuesday. Prior to addressing dramatic developments in the world of finance, I would like to make a brief comment about the inauguration of Barack Obama from a historical perspective. I am proud to be an American and revel in seeing the smooth transfer of power. I think back [...]

“Let’s Really Question Ms. Schapiro….” [Update] »

By Larry Doyle on Jan 18, 2009 in Christopher Dodd, Current Affairs, Economy, FINRA, SEC | 45 Comments

In light of the disaster that is Wall Street, I do not know if I am simply dumbfounded or merely dismayed by the softball questioning of prospective SEC chairwoman Mary Schapiro yesterday. With the dissolution of the investment banking model, the massive injections of government capital, and potential indictments of major Wall Street icons in [...]

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