Philly Jim

CDS and the Looting of AIG

The issue needs to be sensationalized by the media, then the government will act.

The Economy, And Why It's Taking So Long to Fix It

I have a theory why: it's not getting well because there is ZERO accountability. Of course there were poor choices made, but there was also a lot of criminal activity and blatant economic debauchery on part of irresponsible and delusional corporate executives who lavished themselves with other people's money. They, are not capitalists according to the American Dream, they are well-dressed criminals with silver tongues and white wings, only there to serve themselves. We also have politicians and political hacks who were more concerned with their own image than the duties they were charged with. Now, we have a socialist regime in power with no idea how to run a free-market economy and its bleeding through the bandages they are throwing over it.

1. Let the poorly managed banks fail
2. Prop up the best managed banks by giving the assets of the failures to them for pennies.
3. Let the market price things
4. Manage the tax payer dollars, don't dole them out to non tax payers like candy
5. Don't repave the roads a million times and call it infrastructure improvements

Wall Street Breakfast: Must-Know News

A friend of mine works for General Motors and says they throw away/waste tens of millions of dollars a day in throwing away perfectly good parts, lavish executive meetings, ridiculous accommodations for incorrigible employees and highly unproductive employees that are protected by the Union.

GM, AIG, Fannie and Freddie: Bailouts in Common?

The government shouldn't be in the business of keeping failing businesses in business. The market determines which businesses thrive and which die. This is what encourages innovation better business practices, this is what keeps the U.S. ahead of the curve -not bailing out failures.

The government should consider funding new and innovative start-ups like Tesla Motors rather than pump more money into corporations like GM that are being run into their graves by failed leadership that is disconnected from the new generation of consumers.

What Should the Government Do About AIG?

Two of the biggest drains on the U.S. GDP - Welfare, Prisons. ...The benign element must be controlled before spreading further and destroying the whole. This money could be used to help businesses and invest in research and development and keep the U.S. ahead of the curve. Subprime.

Lehman Is Just the Thin Edge of the Wedge

We will all be using the Communist's bank of Russia or China in a few years at this rate. I hope they have a plan..........