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Hopefully AIG won't go down tomorrow. That is the new worry. One of my customers tonight, who is a stock broker, said this is starting to look like the late 80s, and maybe worst.
Hopefully AIG won't go down tomorrow. That is the new worry. One of my customers tonight, who is a stock broker, said this is starting to look like the late 80s, and maybe worst.
No, AIG will be next looking for a $50 billion "fix". As for GM and Ford, they should quit cryin' the financial blues and re-design the bumpers of a few of their European models, with decent gas mileage that someone might actually buy, instead of a blinged-out Cadillac Escalade with "the employee discount"!
People can't afford the cars anymore or their homes.Why aren't you telling the people on Wall St. to ..."quit cryin' the financial blues"...as you said?
Lehman and Merrill just isn't brokers on the floor or hedge fund managers making bajillions of dollars. Some of them are hard-working people just doing their white-collar thing, making 50-60K per year, having a dual income with their wife and husband and getting by in New Jersey.
It sucks that this has happened, but again, blaming Bush is not the answer. This was created by the vortex of suck that was the subprime crisis. And in that situation, you're right, it was built on shady mortgage brokers just looking to make a buck.
You make my point,I realize this but who backed those brokers?Everyone saw this coming but Wall St never did,all the companies that over the years were bought sold and dismantaled becuase "Wall St" said it was the right thing to do ..."it was just business"...all the white and blue coller jobs lost or over seas ...all the 35 or 40 or 50 or even 60,ooo dollar a year jobs gone and were replaced with Walmart jobs.
To say Bush was not responsable ....well,his ignorance has cost the country American lives and it's economy.
P.S. .....Funny you don't hear Bush talking about getting rid of SS and putting the money in Wall ST ,how many 401k's or retirement plains are screwed now?????
Lets go back to see who deregulated the mortgage industry...my oh my...it was Pres Clinton.
Not wanting to turn this into a political thread, but Clinton deregulated it, and the CEO's raped it. Just goes to show that people in extremely powerful positions have to be babysat since they have no idea on how to run a business.
Greed is a terrible thing, and once the CEO, CFO, COO pay spiked, all ethical thoughts went out the door.
Not wanting to turn this into a political thread, but Clinton deregulated it, and the CEO's raped it. Just goes to show that people in extremely powerful positions have to be babysat since they have no idea on how to run a business.
Greed is a terrible thing, and once the CEO, CFO, COO pay spiked, all ethical thoughts went out the door.
Not wanting to turn this into a political thread, but Clinton deregulated it, and the CEO's raped it. Just goes to show that people in extremely powerful positions have to be babysat since they have no idea on how to run a business.
Greed is a terrible thing, and once the CEO, CFO, COO pay spiked, all ethical thoughts went out the door.
AMEN Hoboken Guy. This is why saying things like "let's let the market solve the health care crisis in America" is laughable.
"He who dies with the most toys wins"
That is the attitude that is destroying our country.
Agreed to a point. My Dad used to be a CEO of a large telecommunications firm in the 80's. His salary? About 130K. Modest house in the suburbs, drove a Buick Park Avenue, and still clipped coupons...the man lives like he is going to lose his fortune in 20 minutes, and I admire him for that. He still drives an anonymous Dodge, and my stepmother drives a 16 year old Honda Civic. Very simple lives.
These modern CEO's need things like 6K dollar umbrella holders, million dollar parties, and private jets. When did they lose their moral compass?
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