My guest today is Larry Doyle, a former JP Morgan banker. Larry embarked on his Wall Street career in 1983 as a mortgage-backed securities trader for The First Boston Corporation, and was involved in the growth and development of the secondary mortgage market from its near infancy.
The topic is his book In Bed with Wall Street: How Bankers, Regulators and Politicians Conspire to Cripple Our Global Economy.
In this episode of Trend Following Radio we discuss:
- Doyle's background and why he put "In Bed With Wall Street" together
- Madoff, and what was missed from a regulatory perspective
- KYC, or "knowing your customer"
- MF Global, Jon Corzine, and touching customer funds
- Dodd Frank and the supposed fixes to the 2008 financial crisis, and why Dodd Frank was more of an architectual blueprint rather than a completed piece of legislation
- Regulatory reforms to help fix the problems created in the 2008 financial crisis
- Informing the general public of the problems surrounding Wall Street today
- The "bribe" of equity markets at all-time highs; manipulation of the markets
- Why Tim Geithner said "we saved the economy, but we lost the country"
- If a crash is the only thing that will bring about change
- Why the banks must be broken up
- What would have happened if Goldman Sachs and Morgan Stanley had failed
Jump in!
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I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.
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