LET’S TAKE ON THE REAL TERRORISTS – WALL STREET
As each month goes by I become more and more disappointed with the Obama administration and the snail’s pace at which it gets things done. With such a huge mandate twelve months ago with their inaction and their bumbling ways (healthcare is the great example) I am tiring of words, words and more words that [...]
JUNE 1ST 2009 ONE OF THE SADDEST DAYS FOR AMERICA
General Motors, up until just a few years ago the greatest name in auto manufacturing, today finally declared Chapter 11 bankruptcy. For the past thirty years General Motors became the punch bag for media and Wall Street criticism. The extreme right wing of politics in America also didn’t help matters by hating them for their [...]
HONEYMOON COMING TO A CLOSE
To me, the ousting of GM’s Rick Wagoner by the West Wing of the White House over the weekend signaled a change that politics is back to business as usual. President Obama, when it comes to his team on the economy, has surrounded himself with Wall Streeters, all big time players in the collapse of [...]
DID BUSH/PAULSON AND HIS SUCCESSORS FORCE CONGRESS TO ACT TOO QUICKLY?
This week two of the largest recipients of TARP funds, Goldman Sachs and Bank of America have announced they no longer need help and are plan to hand back their TARP funds before the end of April. I suppose that is good news for the American taxpayers. However what is baffling me is the AIG nonsense. Putting the bonus fiasco to one side, I am absolutely angry to learn most of their bailout money was quickly passed out to the world’s major banks, including Goldman Sachs and the B. of A. to pay out on lost bets. I originally thought AIG were like the Investment banks and were up to their eyeballs in toxic debt caused by the securitization of sub-prime mortgages. Never did I think, banks could even wager their way out of the serious business of finance, but moreover find a bookmaker who would take on their bets.
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