Fairness's Comments

Why Dick Bove Is Wrong About Citigroup

Fri, 18 Dec 2009 19:41:32 -0500

<" In this scenario we surely would have witnessed a mass exodus of executives away from Citi. ">

Now that is just plain stupid!!!
Where exactly do you believe that mass of executives would go? Yes, that very same mass I'm talking about, the executives who brought Citi to the current bankrupt status. Exactly. Nowhere. Not anytime soon. Who'd want them anyway, after having destroyed the mighty Citibank? That anyone would still want them is just an aberration invented by the very same executives who were robbing investors silly until now. They just found a stupid columnist to believe that BS.
Brain wash is alive and kicking dear...

Chart of the Day: Credit Card Late Fees

Sat, 12 Dec 2009 08:30:08 -0500

<"and even if you think you’re being terribly clever by paying off your card in full each month, chances are you’d still be better off just using a debit card instead.">
Now that's bad, no stupid advise. Why? Because with a debit card you do not have the same amount of purchase protection; also, you your funds come out of your checking account immediately, so, do not get the float; and the worse is that, any problems rise from a purchase (think, deception, fraud, etc...) your funds (and sometimes your entire checking account) are locked up: you have no access to your money until the issue is cleared. Now that's a "better off" you don't want.

In Defense of Executive Pay Caps

Tue, 27 Oct 2009 07:46:10 -0400

Congratulations Alex, finally someone who can see through the smokescreen. Executives' lavish pay packages are nothing but an elaborate scheme to defraud investors. Our beloved fund managers who should manage our investments, are these CEO's high flying allies in this money grab fraud perpetrated nowadays at every public company. I absolutely welcome the government curtailing this abuse, although I believe Feinberg doesn't go far enough. Restrictions should be universal and way more drastic. What the CEO's are doing nowadays is nothing short of a sophisticated white collar crime fuelled by a wide conpiracy.

Thoughts on Executive Pay Restrictions

Mon, 26 Oct 2009 07:54:24 -0400

Cutting the executive pay is long overdue as their compensation packages got out of hand, to such extent that the practice now amounts to a real conspiracy against the investors. These exorbitant paychecks are not just absolutely outrageous, they are completely unjustified. The only justification for the scandalous pay is that everybody else does it. It is time to stop it now and forever.
Restrictions on the executives

The Banks' Real Story

Wed, 14 Oct 2009 07:21:18 -0400

Alan, you sound like one of those hired guns for the benefit of individuals at the top who caused this all financial mess, and I doubt you have investors in mind. Investors like me will benefit immensely from the departure of such huge risk takers for their own benefit as Andrew Hall and grossly overpaid executives who ruined thousands of solid companies, banks among them.
A general ban on outlandish salaries and CEO compensation would completely stop any exodus, and end the conspiracy at the top directed against the shareholders.
Government needs to curtail CEO power, that's the only way out. Then we'll have a balanced economy, solid companies working for the benefit of all of us: America, and not just to enrich those on the top to the detriment of shareholders.

Cash for Clunkers May Cost Up to $45,354 Per Vehicle

Tue, 04 Aug 2009 08:22:17 -0400

This article is total BS. What we absolutely want is indeed shift tomorrow's demand to today, to prop up our sagging economy, leave cash in people's hands to spend on other necessities and sure enough, create jobs, especially in the auto industry. Did I mention getting the credit churned up again?
Applause all the way to the government from me for this program.
I am already rushing out to participate.

The Labor Market's Worse than We Think

Thu, 16 Jul 2009 09:31:08 -0400

TeresaE, while I agree with most of your observations, I beg to differ on the final conclusion.
In my opinion only the desperate ones, the ones who have nothing or very little to loose (which you call "Broke, indebted sheep") are the only ones capable of revolting against the "power & wealth grabs."
I agree, the government and (if we are to believe the circulating conspiracy theories) whatever elite is behind it, are pushing the limits; it’s just that someone, somewhere, may be grossly miscalculating something…

American Express CEO Ken Chenault on CNBC: Sober and Direct

Thu, 09 Jul 2009 13:48:19 -0400

It's only AMEX exposed to the credit risk, VISA and MC are not; they passed it over to their issuing banks. Smart, very smart!
That's how they avoided all the latest credit troubles, and that's why when everyone else is hurting, VISA makes another nice quarterly profit...

Laura Tyson Just Sent You a $5000 Tax Bill

Thu, 09 Jul 2009 13:34:35 -0400

Canada does... ???
Why can't OUR representatives spend OUR tax money on us, the taxpayers, to ensure we get the basics that we really need?

On Jul 09 01:00 PM DownOnMyLuck wrote:

> So, if you pay $5,000 more in taxes, you get free health care?

Laura Tyson Just Sent You a $5000 Tax Bill

Thu, 09 Jul 2009 09:11:45 -0400

If that would also mean free health care for everyone and pensions you can retire on, let's do it; otherwise is just plain highway robbery...

Wall Street Breakfast: Must-Know News

Thu, 11 Jun 2009 09:43:03 -0400

Enough with that “performance” brainwash and false excuses! Pay caps should be more then excellent news to every shareholder: our company’s earnings distributed to us, and not robbed by greedy conspirators. That would be wonderful news to shareholders like me… Congress needs to be way more aggressive in reigning in these white collar criminals who drain company recourses and enrich themselves by maximizing risk taking and driving our companies into the ground.
I would have the executives BUY their own shares, with their own money, if they want to lead my company; hear me out, NO OPTIONS either, unless they buy it, well maybe a 10-15% discount as we all get in good times at the supermarket. That way, freed from the current risk-boosting "own-compensation-maxi... schemes, they would concentrate on making all of us richer, not just themselves.
Sure, as a shareholder, I can accept my company’s CEO getting rich that way, just share the wealth with me, the real owner.
YES! An absolute and resounding YES vote for "Pay Czar" here! The white collar highway robbery needs to stop now! Go Obama, don't be soft, and don't give in to the white collar criminal conspirators.

U.S. Economy: What Happened in March

Tue, 07 Apr 2009 09:56:51 -0400

"...the general tone Congress has adopted towards the business class is concerning. One reason for such a concern was evident with the rush to “Tax AIG Bonuses” retroactively. " ?????

What? Ridiculous! Not true! Not concerning to me at all; of contrary, I - and probably can vouch for most of the American middle class (a.k.a. “The People”) - can only applaud that the congress is finally siding with them and not with the big business and its promoters/user/abusers feeding their own selfish and greedy interests. The conspiracy at the top has to stop now! The fact that the Congress finally gets the point, is refreshing, to say the least.
Fairness for all!

Obama Wants a 'Better Plan'? Here's One: Bite the Bullet

Mon, 06 Apr 2009 08:00:27 -0400

I'd love to see some hyperinflation... Who said that's bad? I don't! My house ' price will keep up sooner or later with it..., and that's the most it matters. Only the greedy have a real issue with it, the ones who created this mess anyway, and those with cash in the mattress. the ones who amassed tons of cash instead of investing into the nations prosperity. Don't they deserve it?

Strike Three for Geithner Today?

Mon, 23 Mar 2009 12:56:41 -0400

Matt Callow, your logic is totally flowed, and besides, pessimism doesn't help at all. While we do need constructive criticism, you are not helping at all, YOU ARE PART OF THE PROBLEM. Besides if an institution is healthy, why would they need to have the government bail them out? Oh, and I do like the 90% tax on bonuses, if one runs a company to the ground, that should automatically imply that no bonuses should be distributed because that company is definitely no longer healthy...
Give the guy a chance, will you! If you can't help, get out of the way. Under the circumstances, Tim Geithner's done everything he could: a decent job, and I’m sure nobody would’ve done any better. I prefer to trust his expertise, and hope they'll be fewer and fewer people like you standing in his way, so we can achieve our common goal: get the economy back on track and on a stronger footing then before.

Learning from Canada Is Not Un-American

Thu, 26 Feb 2009 14:04:15 -0500

I'm a naturalized American from Europe, and simply cannot wonder enough how stuck in the past, sold on the "free-market by all means" mentality my compatriots are...
I do believe it is a fair amount of herd behavior involved, and that this herd is relatively easy to control through the multitude of mass communication tools owned by the wealthiest families. In the US, the press is massively biased, to the point where I no longer watch American broadcast channels and news. Nowadays the average American is educated by the mass media mostly through the heavily biased TV and advertising. How can we expect such people to think independently and promote their own best interests, when they allow themselves to be constantly brainwashed by unscrupulous and greedy money-chasers? Human and social values have not much meaning for the manipulators. These people disregard everything but profit.
Honestly, I am now pleasantly surprised that we were finally capable of electing not another moron as our president, but a smart and seemingly true leader for the middle-class. Obama appears to be smart enough to shake us up, and steer US away from our past imperialist and world dominating ways; but he is just one man working against the flood of what money can buy and an abundance of deeply rooted ignorance. That’s not an easy task to do. It needs commitment, courage and a lot of character. I give him credit for what he says he’ll do, let’s hope he is able to surround himself with allies, with people capable to support his ideas and help him find ways to deliver on his promises.

.

Sheila Bair - World's Worst Regulator - to Stay at FDIC

Sun, 11 Jan 2009 08:52:28 -0500

Dare to disagree with most of your points but the first is disgracefully tasteless, and awfully irresponsible too.
The "let’s-stick-up-for-th... schtick" should be most welcome and desired attitude nowadays, which shows exactly a healthy dose of "independent judgment". It's the little guy (fancy your name too) that the whole banking system is living off nowadays, and won't take long until our creative (read crooked) "financial experts" find another novel way (through independent judgment as you wish) to screw us all again in order to get bailed out for the sake of raiding the little guys' pockets again. Have you forgotten Enron, and the likes already? Sure if it is done in mass now, it's no longer visible..., or it's just simply acceptable: everybody does it. Right?
If raiding the little guy's pocket (since we all know the big guy still pays an obscenely small share of taxes) is what you desire, then most likely Sheila Bair is not the right person for the job. Since that little guy is already being robbed by the Bush administration and his rubber-stamp Congress through the bailout, someone has to protect the masses too. We cannot allow the greedy to shamelessly keep massing up the riches on the back of that little guy without impunity. This redistribution of wealth from middle class to the ultra rich is becoming way too disturbing nowadays, while our financial system is a willing accomplice; this trend cannot continue without a mass revolt. Is that what you rather have? Middle class is the backbone of America; we want it thriving, healthy and happy, not exploited, robbed and disenfranchised. So, give the little guy some slack; rather have the riches just once play fair.

Should Executive Pay Indeed Be Capped?

Sun, 04 Jan 2009 17:22:50 -0500

I wholeheartedly agree to the fact that executive pay is outrageously, despicably, obscenely excessive. Today's executive pay is nothing less then a shameless fraud perpetrated against the company shareholders, an albeit legal self-serving salary gauging conspiracy. A white collar highway robbery nevertheless...
None of today's executives, as proven by the present crisis (housing, auto, financial, or otherwise) are capable of saving any company from distress. Their claim that they are responsible for millions of dollars is nothing more then a shameless self-serving justification to defraud investors.
Nowadays, any responsible but obscure college graduate can bring as much value to a company's leadership and bottom line as the brightest executive. Believe it or not, a decent college graduate is worth way more then a bright crooked executive; way, more in terms of shareholders' value and company performance, employee satisfaction, product development, company reputation advancement, and just plain decency and fairness.
Today's hoards of executives are just simple conspirators to defraud the shareholders of their assets, of the value created by the company they administer like their own fiefdom.
I believe, in the name of fairness, decency, and reasonableness, all executives pay should be directly correlated with their employees pay, in no way more then 10 times their least paid employee. In addition, no executive is worth more the US president.
To my opinion executive pay should also be capped at 75% of the US president's salary.

Solve the Housing Crisis by Rewarding the Prudent

Wed, 19 Nov 2008 09:43:52 -0500

Great thinking. Congratulations for comming up with that great idea! If only our leaders would start thinking similarly: reward the prudent, the backbone of America, those who can and will rebuild the economy, not those who broke it down with their greed or stupidity. Paulson, out of the way; Ben Young is here. Obama, are you listening?

Wall Street Breakfast: Must-Know News

Wed, 24 Sep 2008 13:48:12 -0400

Recycled.
The obscene executive compensation payments are major part of the problem, as it was exposed by this financial crisis as outright fraud.
Generally speaking, no executive is worth getting paid more then the ultimate CEO, the US president.
No one, no matter how clever or educated, should be allowed to rob their employees and shareholders as shamelessly as the executives do nowadays. The irony of it is, it's all done legally, under the regulators' watchful eye; highway robbery nevertheless. That needs to stop, in the name of fairness, and in order for the investor to regain confidence in our financial structure and business concept.
Since companies cannot do it themselves, Congress needs to cap executive compensation by law at about the US president's salary level, and index it for inflation. At the very least, executive pay maximums should be tied to a reasonable multiplier of their lowest paid employees’ compensation. If we don't want people to revolt against being robbed by the government too (read heavily taxed) in order to bail out these shameless executive thieves, and keep them doing more of the same, Congress needs to act now. Not until some sort of cap is implemented, we shall see abuses and excesses disappear.

Macro: How Bankrupt Financials Will Impact Connecticut, NJ [Housing Tracker]

Wed, 24 Sep 2008 11:49:53 -0400

Judy, the obscene executive compensation payments is a major part of the problem, as it was exposed by this financial crisis as outright fraud.
I lately became a huge fan of capping executive payouts. Generally speaking, no executive worth getting paid more then the US president. No one, no matter how clever or educated, should be allowed to rob their employees and shareholders as shamelessly as the executives do nowadays. The irony of it is, it's all done legally, under the regulators' watchful eye; highway robbery nevertheless. That needs to stop, in the name of fairness, and in order for the investor to regain confidence in our financial structure and business concept.
Congress needs to cap executive compensation by law at about the US president's salary level, and index them for inflation. At the very least, executive pay should be tied to a reasonable multiplier of the average and/or lowest paid company employee. If we don't want people to revolt against being robbed by the government too (read heavily taxed) in order to bail out these shameless executive thieves, and keep them doing more of the same, Congress needs to act now. Not until some sort of cap is implemented, we shall see abuses and excesses disappear.

Oil Shocks, and What They Hold for the US Economy

Mon, 21 Jul 2008 13:26:19 -0400

John Egan, I agree with you. Drilling for more oil will not decrease oil prices in the long run, but only contribute to a faster depletion of our own oil reserves. Taxing more heavilly would decrese consumption and force use of alternate energy, possibly force people to use more of the so called "greener energy" alternatives. Increasing the tax, gradualy would soften the blow, and give sufficient time for adjustment. Oh, and yes, all that excess tax, should be spent on infrastructure and road improovement, which would create more jobs locally, where we nee them...

Former Merck CEO Prods Industry on Drug Pricing

Mon, 05 May 2008 13:01:14 -0400

With the direction the medical care and the pharmaceutical industry is going, reevaluating its moral stand and humanitarian role is an absolute must. Nowadays it is more and more questionable why are these industries still allowed to be “for profit” establishments.

Profiteering based on people’s health-sickness and life-death matters are not just completely unacceptable and a total shame; it’s plain wrong. Yet, this is exactly what is going on. It is only a matter of time, until the society will turn against such profiteering and hopefully governments will follow suite. Today, seeing the deluge of medication ads (mostly for prescription drugs) on the TV is disturbing. Why hasn’t that been banned yet? All those loopholes need to be closed! Now! This is a huge sign that profiteering and not humanitarian reasons are driving the industry’s development; that has to change.