America Wants to Throw The Bums Out of Washington and Wall Street

With the most important elections in our lifetime –since the last election at least–less than 8 weeks away, the pulse of the country is clearly beating and sending a strong message. What is the tone of that message? Americans are increasingly sickened by the standard ‘business as usual’ politics and are getting ready to ‘throw the bums out’.

In light of the disasters that have played out on our political and economic landscapes can you blame America at this juncture for harboring these feelings? If you have any appreciation for ’sense on cents’, America’s voice is resonating with a message that newcomers certainly can not be any worse than the stale crowd and establishment politics promoted by party machines.

In typical fashion, we will witness both sides of our political aisle look to frame the debate and incoming candidates as ‘unable to win’, ‘ideologues’, ‘extremists’, if not worse. As the established incumbents and political machines of both parties fight to maintain power, ask yourself the question, “what have they done to pursue greater transparency and disclosures in a never ending pursuit for real truth and integrity both in Washington and on Wall Street.” The s*&% sandwich that America has been served by so many incumbents who do not have the balls or the backbone to stand and deliver these virtues is being sent right back to the kitchen. The incumbent ‘waiters’ who believe they can tell America what is best for them ‘on the menu’ are waking up to see that America is no longer buying this line of bulls*&%.

While America is sending this message to Washington and many state capitols it is sending the very same message to those occupying the corner offices on Wall Street. Investors now understand that Wall Street has constructed exchanges that do not promote fair, level, and open playing fields. Can those fields be leveled and opened? Unless and until investors regain real confidence, I expect they will continue to stay away and allocate capital elsewhere.

I do not believe these shifts in our political and financial markets are temporary or mere ripples across a large ocean. The undertow is extremely strong. The pounding of the waves is relentless. The bums are going home. America wants to regain the character and the aforementioned virtues that have been subjugated by those focused on personal profit and political power. I welcome it.

How about you? What are you feeling at this juncture? Here’s your voice.

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.