Joe Grano Takes On Wall Street and Washington

There are few people in our nation today who are willing to stand up and call out both Wall Street and Washington. There are even fewer who have worked within these bastions of power and will subsequently make the hard calls while providing real ‘sense on cents’ in the process. Yesterday I observed just such an individual. Who was it?

Joe Grano.

I had heard of Joe but never had the luxury of listening to him speak. I will now look for him often. During an interview yesterday on Bloomberg, Joe was respectful but not bashful in taking on both Wall Street and Washington. How so?

Joe offered that this industry, meaning Wall Street, lacks leadership. Wall Street has hurt itself. On balance, Wall Street is overpaid. The capital markets are in trouble.

Additionally, one does not need to listen too hard to appreciate that Washington was a welcome participant in promoting the incestuous nature of the relationship between these power bases. Washington really does not get it in terms of creating jobs.

I found myself continually thinking, “this guy gets it!!”

Although this clip runs a little longer than ten minutes, I strongly encourage you to view it and share it with others. Given Joe’s willingness to speak the truth while promoting transparency and integrity, I welcome immediately inducting Joe Grano into the Sense on Cents Hall of Fame.

Plus, he strikes me as a good guy and somebody with whom I’d probably like sharing a beer and duking it out over the Red Sox and Yankees. Given that Joe is from ‘da Bronx’, I’m guessing he is likely a Yanks fan.

Swept you last night, Joe!!


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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