Who’s the Boss?

I almost vomited this morning upon reading the lead article in The Wall Street Journal. The principles and values I cherish and which I believe are the keys to our long term economic prosperity are under continual siege. The American dream is under siege, as well. Our nation’s economic future has never looked so cloudy and uncertain. Why? As The WSJ writes, After the Bailouts, Washington’s the Boss:

Only as the recession recedes will it become fully evident how permanently the state’s role has expanded and whether, as a consequence, a new, hybrid strain of American capitalism is emerging.

One thing is clear: The government is a much bigger force in today’s U.S. economy than it was before the financial crisis. “The frontier between the state and market has shifted,” says Daniel Yergin, whose 1998 book “Commanding Heights” chronicled the ascent of free-market forces starting in the 1980s. “The realm of the state has been enlarged.”

Why am I so concerned? For the following reasons:

1. Washington may be the boss, but who is truly the chairman of the board? Wall Street. Don’t think for a second that Washington does not continue to serve at the behest of Wall Street. Don’t think for a second that the financial regulatory structure is poised to truly protect investors from those who would prey upon them.

2. The Washington political process promotes self-interest instead of true transparency, truth, and integrity. The wealth of evidence on this front is overwhelming.

3. Washington attracts mediocrity and achieves mediocre results at best.

4. Washington’s waste, inefficiences, and self-dealing are stealing our children’s future.

While Washington may be the boss currently and Wall Street the chairman of the board, ultimately each and every American can be the boss if he/she so chooses. How? Hold the bums from both sides of the aisle accountable. The power of the vote is our only means of taking back our country. Washington needs a total cleansing with a powerful disinfectant from determined exterminators. That’s you and me.

Spread the word of the corruption and conflicts of interest within the financial regulatory structures which I have tried to highlight so extensively.

It is our money. It is our future. It is our country. If we allow those in Washington and on Wall Street to steal it away, we will have only ourselves to blame.

Give ‘em hell.

You’re the boss!!

About Larry Doyle 522 Articles

Larry Doyle embarked on his Wall Street career in 1983 as a mortgage-backed securities trader for The First Boston Corporation. He was involved in the growth and development of the secondary mortgage market from its near infancy.

After close to 7 years at First Boston, Larry joined Bear Stearns in early 1990 as a mortgage trader. In 1993, Larry was named a Senior Managing Director at the firm. He left Bear to join Union Bank of Switzerland in late 1996 as Head of Mortgage Trading.

In 1998, after 15 years of trading and precipitated by Swiss Bank’s takeover of UBS, Larry moved from trading to sales as a senior salesperson at Bank of America. His move into sales led him to the role as National Sales Manager for Securitized Products at JP Morgan Chase in 2000. He was integrally involved in developing the department, hiring 40 salespeople, and generating $300 million in sales revenue. He left JP Morgan in 2006.

Throughout his career, Larry eagerly engaged clients and colleagues. He has mentored dozens of junior colleagues, recruited at a number of colleges and universities, and interviewed hundreds. He has also had extensive public speaking experience. Additionally, Larry served as Chair of the Mortgage Trading Committee for the Public Securities Association (PSA) in the mid-90s.

Larry graduated Cum Laude, Phi Beta Kappa in 1983 from the College of the Holy Cross.

Visit: Sense On Cents

Be the first to comment

Leave a Reply

Your email address will not be published.