Obama’s Big Problem is ‘The Big Picture’

Things could be so much worse.


Try telling that to an individual ravaged by an investment scam, sold out by financial regulators, abused by her bank, and left paying substantially more at the gas pump and checkout line.

If these travesties were not bad enough, how do you think this individual may feel about the lack of real justice meted out against those individuals and organizations which perpetrated obvious scams and abuses? How do you think this individual may vote in upcoming elections?

In my opinion, the reality of the situation laid out by such an individual will be the greatest problem facing President Obama, the Democratic Party, and every incumbent from both parties in the 2012 election cycle. (As a point of reference, I am a registered Independent and not looking to score political points for or against any individual or party.)

Instead of relying on major media outlets to define how middle America may feel, please allow me to highlight a recent comment left here by an individual which touches upon so many individual issues prior to her bringing focus to what she defines as ‘The Big Picture.’

April 22, 2011 at 9:32 PM
Hi Larry,

I was just reading the comments in regards to the ARS investment fraud and understanding how much pain these people are going through,my heart is going out to all of them and I am glad that they are fighting back. What I don’t understand, however, is the lack of protection, discipline and control from our government and agencies put in place to regulate the financial industries.

It seems like we are living in a world of total mafia ruled organizations, where if you can come up with a smart enough scam you can get away with it. The fact that the very same organizations that we trust with our finances and lively hood are the very same criminals that rob us is unfathomable, but it is our reality today in this great country of ours.

My main concern and I am sure many others like me who feel that way, is not just the fraud by banks, wall Street, or the many Madoffs out there with their ponzi schemes, is that there’s no one out there wants to prosecute theses criminals. Unless the crimes become public on a major scale that the government officials tries to look into the crime and may be if there’s enough outcry from the public that any crime gets to be addressed.

Our system is so much into wasting time and efforts and tax payers money in fighting small criminals and robbers on the streets than getting to the big crimes because those big criminals have bought our government officials with their dirty money, no I mean our good money that they made dirty once their hands got on it.

Is this some kind of a setup, or has it always been that way? How can all of this kind of scamming and scheming just become so rampant in our society during the last few years? And where on earth is all that money that has been stolen from all of us in all the different scams that were created, who has gotten it when supposedly our country is broke and banks are not making it!

I say that there’s more going on than we know, if the banks planned the greatest financial heist of the Mortgage and Securities elaborate fraud and that they are backed by the Feds, and are allowed by the justice system to get away with it in our court rooms it makes me wonder about THE BIG PICTURE!

What’s THE BIG PICTURE, Larry, and what are we heading for in the near future? Did you ever see that kind of human destruction on this kind of a scale all around the world all at once? But then again what do I know, I am just one person, who was taken advantage of by a small time Madoff who rendered me broke, while the stock market demolished the rest of my assets then the banks got money to help me out but refused and tried to take away my home instead.

Chilling. Nora touches upon so many issues. I thank her for writing and sharing her feelings.

While President Obama and representatives from both parties may tout the Dodd-Frank Financial Reform package as the answer to Nora’s concerns about robust financial regulation, the American public is not buying that. Nor am I.

I have a keen sense that Nora’s feelings are representative of a very real majority of American citizens. I do not envision our economy improving substantially over the next year to lessen the sting felt by Nora and so many others. In fact, I responded to Nora in the following fashion,

What are we heading for in the near future? An economy that continues to underperform because a lot of the underlying debts and costs have not been addressed and reconciled. There will be many years and many dollars spent paying off these debts and costs. Those years and dollars are effectively being stolen from our children’s future.


If the future of America and The American Dream is now being touted as “it could be so much worse” then our nation has failed our children and our childrens’ children.

I recommend that those in Washington reserve their Ryder Trucks and U-Hauls early.

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.

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