What was the answer – Hank Greenberg and Elliot Spitzer spent it on wine and prostitutes. They might as well. Is this really a surprise? Just wait to see how all the governmental controled entities will be run. Back in 1990, the US Government seized the Mustang Ranch brothel in Nevada for tax evasion and, as required by law, tried to run it. They failed and it closed. Now we are trusting the economy of our country to a pack of nit-wits who couldn’t make money running a ***** house and selling booze?
AIG along with the other organizations that received bailout money (our money)each should have to give a FULL accounting to the government and it should be disclosed to the public as well. After all it was our tax dollars bailing them out. NO bonuses or other extra compensation should be given to those in management or who had anything to do with getting these companies in trouble. I disagreed with the bailout from the beginning.
Mortgage Backed Securities are like boxes of chocolates. Criminals on Wall Street stole a few chocolates from the boxes and replaced them with turds. Their criminal buddies at Standard & Poor rated these boxes AAA Investment Grade chocolates. These boxes were then sold all over the world to investors. Eventually somebody bites into a turd and discovers the crime. Suddenly nobody trusts American chocolates anymore worldwide.
Hank Paulson now wants the American taxpayers to buy up and hold all these boxes of turd-infested chocolates for $700 billion dollars until the market for turds returns to normal. Meanwhile, Hank’s buddies, the Wall Street criminals who stole all the good chocolates are not being investigated, arrested, or indicted.
Mama always said: ‘Sniff the chocolates first, Forrest’.
Quote of the day from a fund manager:
‘This is worse than a divorce… I’ve lost half of my net worth and I still have my wife..’
All of the responses were great – especially the one about Teddy the Swimmer! Many of the locals in Edgartown still refer to Chappaquiddick as “the Kennedy Carwash”
Where is Sen Chris Dodd, the ranking Democrat and chair of the committtee? Should we be surprised that he is silent on demanding an accounting of this bailout? Could it be that a full accounting could shine too much light on his own hand in the cookie jar? It is evident that this committee was missing in action in their responsibility to be the oversight committee on behalf of the country while this whole Wall St. debacle was building to the big tumble. What exactly is this committee for if not for oversight to prevent a financial meltdown? We certainly don’t need them to give welfare handouts (oops, bailouts) to failed businesses! And where also were the Board of Directors of these failed companies! Where is their Errors and Omissions liability in all of this? Where is PMI insurance on these foreclosed properties? Tomorrow, I’m voting them ALL out if they’re on the ballot!
Chris Dodd, hasnt said a word, His office states he has had larengitis for the last couple of months. Barney Franks is on vacation since his interview with Bill Oreily. I think they are flying a little low right now, hoping everyone forgets what their jobs were.
Gee…Chris Dodd has only been the chairman for a year now. What about the Republicans who had control of Congress since 1994? Never mind a Republican President for the past eight years. Oh..I forgot…to many of you they can do no wrong and are completely innocent in these matters.
Now, I am not saying Democrats are innocent either. Just get real folks. Republicans are every bit at fault for this as Democrats, to say otherwise is partisan rhetoric.
Hmmm,
Some republicans did try to get some control over Freddie and Fannie but they did not try hard enough. They should have been screaming alerts to anyone and everyone but they did not so they also deserve some blame. It is a little ridiculous to put all of the blame on Bush though when Frank and other Dems were involved in the “oversight” and especially with the Dems’ big push for increased minority loans.
Hogwash!!! view this and explain your position.
http://www.youtube.com/watch?v=_MGT_cSi7Rs
Cut and paste and view
Ted Kennedy has requested some of the moeny go to the continued coverup of the death of Mary Jo Kopechne.
William Jefferson has volunteered to keep some of the money in his freezer.
What was the answer – Hank Greenberg and Elliot Spitzer spent it on wine and prostitutes. They might as well. Is this really a surprise? Just wait to see how all the governmental controled entities will be run. Back in 1990, the US Government seized the Mustang Ranch brothel in Nevada for tax evasion and, as required by law, tried to run it. They failed and it closed. Now we are trusting the economy of our country to a pack of nit-wits who couldn’t make money running a ***** house and selling booze?
well won’t that be hard with all those papershredders they were using?
AIG along with the other organizations that received bailout money (our money)each should have to give a FULL accounting to the government and it should be disclosed to the public as well. After all it was our tax dollars bailing them out. NO bonuses or other extra compensation should be given to those in management or who had anything to do with getting these companies in trouble. I disagreed with the bailout from the beginning.
Kate, buy the stock, We all know now they will not let it fail.
Good point. I know a lot of people who are doing that very thing now.
Mortgage Backed Securities are like boxes of chocolates. Criminals on Wall Street stole a few chocolates from the boxes and replaced them with turds. Their criminal buddies at Standard & Poor rated these boxes AAA Investment Grade chocolates. These boxes were then sold all over the world to investors. Eventually somebody bites into a turd and discovers the crime. Suddenly nobody trusts American chocolates anymore worldwide.
Hank Paulson now wants the American taxpayers to buy up and hold all these boxes of turd-infested chocolates for $700 billion dollars until the market for turds returns to normal. Meanwhile, Hank’s buddies, the Wall Street criminals who stole all the good chocolates are not being investigated, arrested, or indicted.
Mama always said: ‘Sniff the chocolates first, Forrest’.
Quote of the day from a fund manager:
‘This is worse than a divorce… I’ve lost half of my net worth and I still have my wife..’
All of the responses were great – especially the one about Teddy the Swimmer! Many of the locals in Edgartown still refer to Chappaquiddick as “the Kennedy Carwash”
Where is Sen Chris Dodd, the ranking Democrat and chair of the committtee? Should we be surprised that he is silent on demanding an accounting of this bailout? Could it be that a full accounting could shine too much light on his own hand in the cookie jar? It is evident that this committee was missing in action in their responsibility to be the oversight committee on behalf of the country while this whole Wall St. debacle was building to the big tumble. What exactly is this committee for if not for oversight to prevent a financial meltdown? We certainly don’t need them to give welfare handouts (oops, bailouts) to failed businesses! And where also were the Board of Directors of these failed companies! Where is their Errors and Omissions liability in all of this? Where is PMI insurance on these foreclosed properties? Tomorrow, I’m voting them ALL out if they’re on the ballot!
Chris Dodd, hasnt said a word, His office states he has had larengitis for the last couple of months. Barney Franks is on vacation since his interview with Bill Oreily. I think they are flying a little low right now, hoping everyone forgets what their jobs were.
Gee…Chris Dodd has only been the chairman for a year now. What about the Republicans who had control of Congress since 1994? Never mind a Republican President for the past eight years. Oh..I forgot…to many of you they can do no wrong and are completely innocent in these matters.
Now, I am not saying Democrats are innocent either. Just get real folks. Republicans are every bit at fault for this as Democrats, to say otherwise is partisan rhetoric.
Hmmm,
Some republicans did try to get some control over Freddie and Fannie but they did not try hard enough. They should have been screaming alerts to anyone and everyone but they did not so they also deserve some blame. It is a little ridiculous to put all of the blame on Bush though when Frank and other Dems were involved in the “oversight” and especially with the Dems’ big push for increased minority loans.