The smartest guys in the room? I don’t think so…
When Enron fell apart, our nation tried to make sense of it. Congress critters tried to pass laws that guaranteed nothing like that ever happened again. Enron caused, by their actions in CA to manipulate the energy industry, the death of a very good friend of mine. We had rolling blackouts almost daily that summer [...]
Closing in on 100 days do you think Obama is making the grade?
I am constantly every day impressed with Obama’s many accomplishments and what he is doing in order for us to get back our version of America and destroy the mess Bush and Republicans made of us and our America while instituting their version. He makes inroads toward that end. That is why as they get [...]
A Buccaneer’s Arrogance
Edward M. Liddy grew up in New Brunswick, New Jersey, earned a bachelor’s degree from Catholic University of America in 1968 and a master’s in business administration from George Washington University in 1972. He then began a long career in corporate America, including stops at the Ford Motor Company in Detroit, drug maker G.D. [...]
BOOTSTRAP MODE
This post gets a little personal. While some folks continue to debate if we are in a Recession or a Depression and what are the defining perimeters, the whole frigging thing has landed on our doorstep. For the record- I AM calling it a Depression. Back in the day, they once defined a depression as a [...]
What The World Needs: A $28 Million Chair
What irony, a day after the president of the United States addresses his Congress and his nation, talking about the dire financial straights that we have got ourselves in to, someone bid’s up an old chair from Christie’s auction house’s low estimate of $2.5 million, to $28,341,909. Who was the successful bidder, Angelo Mozzilo, Bernie [...]
Bad Banks are a Bad Idea
Bad Bank Q & A
Q: What is the bad bank?
A: The “bad bank” would be a government-run entity set up to buy assets that a re weighing down the balance sheets financial institutions. By replacing these assets, many of them mortgage backed securities, with cash, Treasury hopes to free up the banks to begin lending [...]
Merrill Lynch’s Bonus Fiasco
Cuomo also detailed how the bonus pool was spread among staff.
He said that while the bonus pool encompassed 39,000 employees, the lion’s share went to a relatively small number of executives. “Merrill chose to make millionaires out of a select group of 700 employees,” Cuomo said.
Cuomo’s office determined that $121 million was doled [...]
General Chaos
General Motors is investing one billion dollars in Brazil! Thank you American Taxpayers! The Latin American Herald Tribune ran the story.
Anyone notice Cadillac (GM) ws a major sponsor of the Super Bowl?
Must be nice they are doing so well.
Wait a minute~ General Motors was the biggest whiner @ the recent Big Three begging for bailout sessions.
They were hurting the [...]
Billions of Taxpayer Dollars Flushed Down John Thain’s 35K Commode
Posted Jan 23, 2009 01:36pm EST by Aaron Task
Just when you thought the greed and avarice on Wall Street couldn’t possibly get any worse, Thursday brought revelations of John Thain’s disgusting behavior. The imperial CEOs of the late 1990’s-early 2000s - Enron’s Key Lay, WorldCom’s Bernie Ebbers and Tyco’s Dennis Kozlowski - got nothing on [...]
Screw Wall Street
Foreclosures and the economic downturn are taking a new twist, as the CEO of a local chain of assisted living centers just put 14 of them into Chapter 11 bankruptcy. This is a particularly difficult issue for those in Alzheimer’s or Dementia Memory Care units, because, familiarity and routine are very important. It could be [...]
This pushed America to the brink of financial disaster…
I’m no longer your mainstream Catholic. Our Sunday Visitor is a mainstream Catholic tabloid-style weekly newspaper often sold at mainstream Catholic parish churches after the weekend liturgies. Maybe I’m more mainstream than I thought, or maybe the Visitor isn’t as mainstream as I thought. Because this reprint of one of their articles says a lot [...]
So cold the air smells of ice…
Lawd, have mercy!
‘Tis wicked cold out there…frozen solid…so cold there’s ice on the inside of my car windows!
Shudder.
This is the kind of weather my sorta-beagles hate. They both are reluctant as hell to go outside and take care of their bitness, so this bitch has to keep a careful watch on them lest they find [...]
Chrstmas With The Devil.
While I never really supported the Government bailing out big business I was pleased that they were demanding the big carmakers and their bosses curtail big bonuses and fancy perks. There were many questions and demands made by the panel when the Big Three’s leaders were in Washington begging for help for their mismanaged companies. [...]
Bailing Out The Whole Country? Maybe.
The good ol’ boys in D.C. are playing the same old song. Playing footsie with the lobbyists in the backrooms while they keep putting the inevitable giveaways to Detroits Big Three off so the gifts and kickbacks will grow. We’ve seen all of this before. Somehow saving the car companies will make a difference to [...]
2009 doesn’t look good
but you don’t have to take my word for it- cnn talked to 8 folks who should know about economy- and i have to say- i am grateful for their candor and honesty instead of the usual fluffy take on everything- but damn! not looking forward to the worry about my financial stability.
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