Jersey

Wall Street Breakfast: Must-Know News

The best of the best it seems have lost their way as far as where we go from here in this economy or what to do. I personally have an idea where we will go from here although if the past is any indicator of future performance it is merely a question of the rate of decent. As far as Citi it's really beyond me to understand the hows and whys. It does however seem a bit odd for lack of a better word that Citi gets a bailout, the Government gets a ton of preferred stock with a yield of 8% yet, the shareholders have the dividend slashed to one single red cent and the employees of Citi, literally tens of thousands of them are let go. I'm not exactly sure of just what happened here and I may be way off base but in these mysterious weekend deals really seems to stink - bad, real bad. While I'm thinking of it and I wish I could stop but to consider limiting the auto exec's compensation along with the Wall St. exec's compensation I can't help wondering who or what will be next, who will decide? I know I didn't have allot to say about this bailout, at least it wasn't given any weight but maybe I was away that weekend. We are willing to tax the oil companies to death as well. Maybe it's just possible there is a warped sense of priorities somewhere? It seems to me that the auto industry, Wall St., the oil companies and many others are and will be evaluated and reorganized yet some of the people that scream the loudest aren't even looked at such as those last minute weekend deals behind closed doors, maybe people ought to reevaluate the compensation of Hollywood and the compensation of many ball players and other athletes. Maybe I'm rambling a bit, maybe I'm a little dizzy from all these developments day in and day out. I just can't and don't feel comfortable our priorities are as they should be. Priorities, maybe that's an old fashioned term as well given the way this election came down. Whatever, I have a headache, again.