WHEN WILL LARGE CORPORATIONS RETURN TO A BASIC PHILOSOPHY THAT WORKS FOR ALL?
Amongst all the business news of doom and gloom this week, the headline stealer was the speculation of the fate of once America’s greatest company, General Motors. With the help of President Obama, it appears G.M. will be bullied into bankruptcy. What is happening to this country, when the media and other self professed experts [...]
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.
MAJOR AMERICAN FINANCIAL INSTITUTIONS WILL HAVE TO BE NATIONALIZED
A few months back I made a statement to the effect; Good bye capitalism and welcome socialism. Now the big three auto manufacturers have been given a temporary reprieve from bankruptcy and the banks have received a further $350 billion bailout money, I think it time for the Obama administration once they are settled in [...]
RECESSION MUCH DEEPER THAN THE EXPERTS ADMIT TO
I am all for being an optimist, but the very experts who are telling us everything will start becoming great again in 2009 are the very bastards who put us here in the first place! The problem is the media is no longer independent and are closely linked to the very Wall St investment banks [...]
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