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Terry Connelly
Terry Connelly is an economic expert and dean emeritus of the Ageno School of Business at Golden Gate University, California's fifth largest private university and a nonprofit institution based in San Francisco with award-winning online cyber campus. With more than 30 years experience in investment banking, law and corporate strategy on Wall Street and abroad, Terry analyses the impact of government politics and policies on local, national and international economies, examining the interaction on global financial markets, the U.S. banking industry (and all of its regulatory agencies), the Federal Reserve, domestic employment levels and consumer reactions to the changing economic tides.

Terry holds a law degree from NYU School of Law and his professional history includes positions with Ernst & Young Australia, the Queensland University of Technology Graduate School of Business, New York law firm Cravath, Swaine & Moore (corporate, securities and litigation practice in New York and London), global chief of staff at Salomon Brothers investment banking firm and Cowen & Company’s investments, where he served as CEO. In conjunction with Golden Gate University President Dan Angel, Terry co-authored Riptide: The New Normal In Higher Education (2011). Available on, Riptide deconstructs the changing landscape of higher education in the face of the for-profit debacle, graduation gridlock and staggering student debt, and asserts a new, sustainable model for progress. Terry lives in Palo Alto, CA with his wife and also serves on the board of trustees for the Institute of Transpersonal Psychology.

Entries by Terry Connelly

Will CNBC Market Negativity Again Bail Out Short Hedge Funds?

(1) Comments | Posted October 8, 2014 | 6:05 PM

All during the run-up in the stock market over the past couple of years, the major cable news outfit covering the financial markets, CNBC, has been relentlessly pushing the idea that the market needs to have "correction" of at least 10% to warrant further investment equities. Day after day, night...

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Unanswered Questions for a Consequential Autumn

(0) Comments | Posted September 26, 2014 | 3:17 PM

Chinese Checkers?

The Dow Jones Industrial Average set an all-time record during the trading week of September 15, but fell 104 points along with NASDAQ and the S&P 500 Average on September 22. The hot new Chinese internet IPO also fell 4% after its 38% pop on day one of...

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Market Manipulators Are Back in Season for the Fed "Septaper" Sequel: "Septighten"

(0) Comments | Posted September 16, 2014 | 5:05 PM

The summer is coming to an end without much success at the movie box office, but one "sequel" has emerged a winner this week although its ultimate fate awaits further developments.

Readers of this blog will recall that questions were raised here in late August last year about the...

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As Long As We're Talking About 2016, How Will They Manage the Republican Playoff With 20 Candidates?

(0) Comments | Posted September 9, 2014 | 3:12 PM

Hillary Clinton may be getting all the attention, but her path to the Democratic Party nomination for the Presidency in 2016 looks to be virtually clear of any serious opponents at this point. It's her race to lose and she is starting out alone at pole position with not even...

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Mobility Math: More Folks Renting = Fewer Mortgages = Lower Deficit and Lower Unemployment

(0) Comments | Posted September 3, 2014 | 2:03 PM

Don't look now, but renting is in! The mobility revolution isn't only about the Internet, the iPhone and advertising (although that's a big part of it). Think for a moment about automobile transportation. Starting with ZIP Cars and now on to Uber and Lyft, we're witnessing the emergence of successful...

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Tough Choices Indeed -- For Everybody

(0) Comments | Posted August 27, 2014 | 6:31 AM

At the very least, Hillary Clinton came up with a timely book title. Hard choices confront policymakers in the U.S. and abroad in a seemingly overwhelming quantity. Never mind blaming all policy "gridlock" on "maximalist politics." There has indeed been a good deal of that in recent years...

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Ebola Is Not Spread By Air -- But Ebola Panic Is: Just Listen to Rush Limbaugh's Radio Program

(1) Comments | Posted August 12, 2014 | 3:59 PM

OK, it's not really surprising to learn that Rush Limbaugh believes that the return of two U.S. health care volunteer medical personnel from Africa who contracted Ebola is just another Obama plot so that he and the Democrat Party "can lead the compassion train." If that's all the...

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Broken News: Is the Crazy Weather Getting to Our Collective Sanity?

(0) Comments | Posted July 30, 2014 | 8:31 AM

Isn't it strange that the GOP, the political party that has heretofore consistently and vociferously opposed frivolous lawsuits, spurious malpractice claims and the trail lawyers' lobby, has now decided to spend taxpayer money to hire trial lawyers to bring what is essentially a frivolous malpractice lawsuit against President Obama?


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DC Circuit Decision Isn't Just About Obamacare Subsidies: It Also Kills the Employer Mandate

(1) Comments | Posted July 28, 2014 | 8:31 AM

There are some real-life occurrences that are so absurd that the phrase "you can't make this stuff up" comes readily to mind. Yet the July 22 decision of a divided three-judge DC Federal Circuit Court panel invalidating the Affordable Care Act's (ACA) premium tax credits for anyone purchasing insurance on...

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Can Obama Pardon Undocumented Immigrants and Let Them Stay? Civil War Cases Point the Way

(0) Comments | Posted July 9, 2014 | 1:21 PM

Article II, Section 2 of the United States Constitution states that the president "shall have power to grant reprieves and pardons for offenses against the United States, except in cases of impeachment." It has been suggested in some quarters that President Obama use this power, which is "essentially unfettered" according...

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The Hobby Lobby Ruling: Hobby Horse, One-Trick Pony Or Citizens United 2.0?

(0) Comments | Posted July 2, 2014 | 12:08 PM

The June 30, 2014 decision of the United States Supreme Court in Burwell vs. Hobby Lobby Stores, Inc. has already generated a broad range of commentary for and against, with many predictions. Within the several different opinions issued by the Justices: What will the future hold for Obamacare,...

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The Federal Reserve Board --The Adults in the Room

(2) Comments | Posted June 27, 2014 | 12:55 PM

If you asked the average person -- or even the average hedge fund manager (although they all probably think they're above average in a Lake-Wobegon sort of way) -- how they feel about the Federal Reserve's latest economic projection that trimmed its estimate of 2014 US GDP growth...

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If 2 Percent Is the New 4 Percent, Where Would the Economy Go From There? Let's Think It Uber!

(0) Comments | Posted June 12, 2014 | 11:31 AM

One of the most provocative articles in the financial media relating the economy in recent weeks was a brief note by CNBC contributor Ron Insana -- one of the folks on that network who consistently knows what he is talking about -- calling attention to the determination of...

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What Will Be Summer 2014's Big Story? A Top 10 List Of Candidates

(0) Comments | Posted May 29, 2014 | 3:54 AM

As spring warms its way to summer, the seasonal lists just keep coming: the top ten beach reads; the likely best (and worst) of the upcoming summer movies; and even ten great films about summer! But all is not frivolity, as recent summers have...

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How Would You Live On the Minimum Wage?

(0) Comments | Posted May 12, 2014 | 5:18 PM

This post starts with a question because the answer could determine how you might vote in Congress (or for Congress) on the proposition that the current Federal minimum wage should be raised over the next two years to $10.10 per hour.

That staged increase would bring the annual total compensation...

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The Bond Market Disagrees With The Fed: So What's New About That?

(0) Comments | Posted April 22, 2014 | 10:55 AM

The U.S. Federal Reserve through its Chair Janet Yellen has been making clear in recent meetings and speeches that the "federal funds" overnight interest rate (close to zero) is going to be with us for a "considerable" period of time, possibly lasting until 2016, so long as unemployment stays above...

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April Showers Hit Markets: Bring an Umbrella to Trade

(0) Comments | Posted April 11, 2014 | 11:13 AM

Forces at work from Tokyo to Kiev have been roiling the U.S. stock market for a couple of week. But the financial sushi that is now on the menu in Japan, and Russia's "Crimea of the Century" are only part of the story.

Japan is trying at long last...

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Anatomy of a Market Lie: CNBC Misreads the Fed and Helps Out Short Sellers

(0) Comments | Posted March 20, 2014 | 2:18 PM

Going into the Federal Reserve Board's Open Market Committee meeting of March 18-19, market expectations had coalesced around the expectation that the Committee would begin to change its "highly accommodative" monetary policy -- i.e., increase its target for the overnight "federal funds" inter-bank borrowing rate from its current level of...

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Putin' on the Ritz: Why Western Business Undermines Sanctions to Put Profits Ahead of Patriotism

(0) Comments | Posted March 11, 2014 | 1:28 PM

Want to put the squeeze on the outlaw Putin by dialing back the offshore shenanigans of his pals among the Russian super-rich? Wait just a minute, Mr. President: What might that do to the London real estate market? Let's see which side Prime Minister David Cameron ultimately takes on the...

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Finally, the End of the Five-Year Armageddon Trade?

(0) Comments | Posted February 18, 2014 | 4:16 PM

For the past several years, beginning with the collapse of the US housing finance market in 2008, debt and equity markets worldwide have been subject to periodic shocks and jolts that have given rise to what's now known as the "Armageddon Trade."

Reminiscent of the market positioning that occurred...

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