WayneS

The Economic Impact of the G20 Ending Oil Subsidies

A subsidy is not money given to a tax payer, it is an adjustment to the taxes paid. It is a socialist policy. It is not under the jurisdiction of law. Tax them the maximum amount they can pay without going under. With "Big Oil", the difference between subsidy and no subsidy is 3%. If they lose subsidies, they will just move to where there is profit (overseas). For the 500 other oil companies in the U.S., this would mean bankrupcy and loss of millions of jobs. For the IRS, this would mean loss of $Trillions of revenue .
Polosi's idea of double-taxing "American Big Oil companies" is a better plan, except that is illegal at this time.

Wall Street Breakfast: Must-Know News

The cost of investigations into AIG's bonus payments, litigations and loss of productivity will dwarf the amount paid in these bonuses. Even if the bonuses are repaid, the money will not be repaid to the taxpayers. This "show" was strictly an opportunity for Congress to bandstand and make people think they are looking out for them and secure re-election. Half of the Congressmen had no idea what they were talking about, the other half were attempting to distract us.

Fed Approves Wells Fargo-Wachovia Deal; Citigroup Seeking Damages

It took two years for the Exxon and Mobil merger because they would have a monopoly at 7%.
Southern Pacific and Santa Fe could not merge because that would make them the 4th largest railroad company. Later they approved the Burlington Northern - Santa Fe merger that created the largest railroad company.
This merger is OK because there are lots of other banks. There were over 500 "other" oil companies during the ExxonMobil merger.
Just how do these people decide what to approve and what not to approve?