Syl

Nationalize U.S. Banks

It is very easy to say "nationalize", but you fail to mention thay many who own the stock will lose many dollars to our government. If our government is smart enough to run a bank why did it let medicare and medicaid get in a worse financial shape than our banks. Whose dollars is the government using to operate medicare and medicaid? Why have so many state governments gotten into such bad financial shape? As Ben Franklin once said, "a government that can take care of every need can also take all you ever had." I don't like the bailouts, but if that failure of any restrictions on their use is any indication of how Washington is going to run our banks or auto companies may the Lord pity us.

Fast Money Recap - GM and Ford Go to Washington (11/28/08)

I like the coments better than I liked the authors. If Ford & GM get a bailout without an adjustment in their costs the Feds. are fools. Even the big three's cheapest fuel-efficient autos are almost $2 thousand more than the Japanese models that are rated higher.

Big Cap Financials Are Scary

When I think of BAC investing $6 Billion in a Chinese bank after getting a $15 Billion bailout, I say there should be more control of how this money is spent.

Two things happened---one our highly paid beaucrats in Washington were asleep and BAC made a ludicrouse use of this loan. Will this $6 Billion purchase become a gift to that Communist nation? Remember, the government of China could nationalize their banks over night and take control all assets.

Did you know it would take one a lifetime to count to six billion? I once offered any student $20 who could write to one million during their Spring break. Some tried but after two days they gave up. Now, how much is one billion?

What Does Bank of America's Decline Mean for the Global Banking System?

It is hard for me to see why BAC invested in a Chinese venture when everyone knows that in a Communist dominated country the government can nationalize any industry and take complete control of its assets and operate it as the beaucrats wish. I also agree that the take over of Countrywide and Merrill were risky moves. Let BAC stay with banking and not other activites in which they are not well versed.

Tuesday Market Preview: Down Further?

How can one justify a healthy bonus when he/she is the CEO of that failing company? Why has our inefficient government not put an early lid on bonuses before a bailout was approved? Another proposition that intrigues me is why do the majority of stock holders approve extravagant salaries, for failing companies, every time proxy time rolls around. The Board of Directors alway request a yes vote. Their argument is they don't want to lose their top people. By the way the
Board always wins the salary, bonus, and stock options they requested for the CEO's. I voted no on a request for a 12-B option for a mutual fund. I got a long distance call from some person in the upper echelons who asked why I voted no. I said that 12-B provision would not benefit me one cent. They held another vote and it was approved. I dropped the investment and I have had no reason to regret my vote.