I refuse to bail out any more companies that are dying because of mismanagement.
The executives and boards of Fannie/Freddie & AIG need to be held accountable for their fiscal irresponsibility. Put their arses in prison and fine them every cent they made while managing this fiasco.
Unfortunately we don’t have a say in what the Treasury and Federal Reserve do, so whatever they do we’re in it.
Did you see today that the President pledged to do whatever more he needs to do to calm the markets? That could mean taking over more companies. Great!
Love your book by the way. You’re right, this is probably the beginning of the unraveling of the world’s, or at the least the U.S., financial system. This was predicted over 80 years ago by people who actually knew economics. What is it they say? The dollar is backed by the “full faith and credit” of the government. Well, only a total moron or someone who goes into a coma watching 20 hour of TV per week (or do I repeat myself?) has any faith in government; and their credit? That’s just about shot. Get ready sometime down the road to pay $5,000 for a loaf of bread when the government does the only thing it can to get itself (but not you & me) out of this mess: resort to hyperinflation. Hey! But no worries, just look at how well that worked for Weimar Republic Germany and for Zimbabwe today.
I bought AIG at various prices over the years even as high as $65.00 p/share. I made $$$’s on the transactions as long as Maurice Greenberg was at the helm. When he left the company so did I except for a few sentimental shares just so I could say I was an investor. I’m not as sophisticated as the people who make investments for pension plans but I guess the difference is that I knew if I lost $$$’s it would me by loss. A pension plan simply files suit until somebody gets tired of the litigation/fight and pays the claim. Expect tort reform to be the next item on the agenda… With AIG now being “nationalized” I would suspect that every recipient in every law suit will have someone look up their skirt to determine if they dye their hair…
Watch what you ask for… this might be a dance you won’t ever forget.
You’re right. Both sides are dirty. The difference is, the Democrats are more upfront about their socialism (although they try to hide behind code words like “progressive”). The Republicans profess to support capitalism and economic freedom until their big biz buddies get into trouble. Then they suddenly switch to supporting the welfare state, if only for the rich and powerful. It’s time to stop the motor of the world.
Don’t let them tell you this economic meltdown is a complicated mess. It’s not. Our national financial crisis is readily understood by anyone who has seen greed and hypocrisy. But we are now witnessing them on a profound, monumental scale.
Conservative Republicans always want the government to stay out of business and avoid regulation as long as they are making lots of money. When their greed, however, gets them into a fix, they are the first to cry out for rules and laws and taxpayer money to bail out their businesses. Obviously, Republicans are socialists. The Bush administration has decided to socialize the debt of the big Wall Street Firms. Taxpayers didn’t get to enjoy any of the big money profits on the phony financial instruments like derivatives or bundled sub-prime paper, but we get the privilege of paying for their debt and failures.
Know what Mike? Because that is all too true and accurate, it will never be acknowledged. Instead the press will trumpet some jingoistic republican slogan, such as how us taxpayers will be protected by someone who was in on it the whole way but who is shocked that it happenend. Just like Louie in “Casablanca”, Wall Street is “..shocked, shocked that gambling was going on in here”….and then takes the pay out…”here are your winnings, Sir!” …”oh thank you”….hell we even have a politically correct word for lying, it’s called being “disingenuous”…
Why are there so many sheep like Stat Guy who think that this is a Republican problem? It’s both sides! The people in charge aren’t’ paying attention and they are from both major parties. Quit with the election year baloney. Obama was taking money from the failed mortgage lenders. Frank is the chairman of the House committee that is supposed to be watching these people. It’s an apolitical problem. Both sides are dirty. If we just quit thinking about politics for a minute and look for solutions, hard ones, maybe some of you sheep might not get sheered too much.
Does the name Richard Holbrooke mean anything to you folks? Well, he was VERY ACTIVE according to the number of S-4s filed with the SEC. An S-4 or form 4 is a “statement of beneficial ownership” and it is filed when someone gets big chunks of stock via options and exercises them OR when a major stockholder sells their stock. There are so many interesting names appearing over and over in the s-4 ranks during 2006, 2007 and 2008. Starr, Orr and other recognizable names. I would take a good look folks.
I refuse to bail out any more companies that are dying because of mismanagement.
The executives and boards of Fannie/Freddie & AIG need to be held accountable for their fiscal irresponsibility. Put their arses in prison and fine them every cent they made while managing this fiasco.
The Last Quatrain….
Unfortunately we don’t have a say in what the Treasury and Federal Reserve do, so whatever they do we’re in it.
Did you see today that the President pledged to do whatever more he needs to do to calm the markets? That could mean taking over more companies. Great!
Nostradamus,
Love your book by the way. You’re right, this is probably the beginning of the unraveling of the world’s, or at the least the U.S., financial system. This was predicted over 80 years ago by people who actually knew economics. What is it they say? The dollar is backed by the “full faith and credit” of the government. Well, only a total moron or someone who goes into a coma watching 20 hour of TV per week (or do I repeat myself?) has any faith in government; and their credit? That’s just about shot. Get ready sometime down the road to pay $5,000 for a loaf of bread when the government does the only thing it can to get itself (but not you & me) out of this mess: resort to hyperinflation. Hey! But no worries, just look at how well that worked for Weimar Republic Germany and for Zimbabwe today.
I bought AIG at various prices over the years even as high as $65.00 p/share. I made $$$’s on the transactions as long as Maurice Greenberg was at the helm. When he left the company so did I except for a few sentimental shares just so I could say I was an investor. I’m not as sophisticated as the people who make investments for pension plans but I guess the difference is that I knew if I lost $$$’s it would me by loss. A pension plan simply files suit until somebody gets tired of the litigation/fight and pays the claim. Expect tort reform to be the next item on the agenda… With AIG now being “nationalized” I would suspect that every recipient in every law suit will have someone look up their skirt to determine if they dye their hair…
Watch what you ask for… this might be a dance you won’t ever forget.
You’re right. Both sides are dirty. The difference is, the Democrats are more upfront about their socialism (although they try to hide behind code words like “progressive”). The Republicans profess to support capitalism and economic freedom until their big biz buddies get into trouble. Then they suddenly switch to supporting the welfare state, if only for the rich and powerful. It’s time to stop the motor of the world.
Don’t let them tell you this economic meltdown is a complicated mess. It’s not. Our national financial crisis is readily understood by anyone who has seen greed and hypocrisy. But we are now witnessing them on a profound, monumental scale.
Conservative Republicans always want the government to stay out of business and avoid regulation as long as they are making lots of money. When their greed, however, gets them into a fix, they are the first to cry out for rules and laws and taxpayer money to bail out their businesses. Obviously, Republicans are socialists. The Bush administration has decided to socialize the debt of the big Wall Street Firms. Taxpayers didn’t get to enjoy any of the big money profits on the phony financial instruments like derivatives or bundled sub-prime paper, but we get the privilege of paying for their debt and failures.
Know what Mike? Because that is all too true and accurate, it will never be acknowledged. Instead the press will trumpet some jingoistic republican slogan, such as how us taxpayers will be protected by someone who was in on it the whole way but who is shocked that it happenend. Just like Louie in “Casablanca”, Wall Street is “..shocked, shocked that gambling was going on in here”….and then takes the pay out…”here are your winnings, Sir!” …”oh thank you”….hell we even have a politically correct word for lying, it’s called being “disingenuous”…
Why are there so many sheep like Stat Guy who think that this is a Republican problem? It’s both sides! The people in charge aren’t’ paying attention and they are from both major parties. Quit with the election year baloney. Obama was taking money from the failed mortgage lenders. Frank is the chairman of the House committee that is supposed to be watching these people. It’s an apolitical problem. Both sides are dirty. If we just quit thinking about politics for a minute and look for solutions, hard ones, maybe some of you sheep might not get sheered too much.
Does the name Richard Holbrooke mean anything to you folks? Well, he was VERY ACTIVE according to the number of S-4s filed with the SEC. An S-4 or form 4 is a “statement of beneficial ownership” and it is filed when someone gets big chunks of stock via options and exercises them OR when a major stockholder sells their stock. There are so many interesting names appearing over and over in the s-4 ranks during 2006, 2007 and 2008. Starr, Orr and other recognizable names. I would take a good look folks.