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  • Why Are Banks Paying Back Loans They Can't Afford?  [View article]
    It all makes perfect sense if you remember the purpose of these corporations is line the pockets of the CEO. All else, including the health of the company, is very secondary. When exec comp limitation suddenly appeared, there was a collective "Opps" and a rush to pay these things back.

    Greenspan testified that his error was to think the bank CEO's would not put their company's at risk chasing a quick and easy profit, and therefore took their word that their complicated trading rooms were adequately hedged. All sorts of nasty stuff was hidden from us. That Greenspan and his regulators couldn't find it makes me feel better that I couldn't either... but not much.
    Jun 10 13:13 pm |Rating: +1 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I've been advocating this for some time now. You can see it, I see it, but our Congresscritters are so ignorant.... What do we have to do to wake them up? Problem is these actions require them to admit they made a mistake.

    On Dec 04 08:46 AM eddie64 wrote:

    > REAL SOLUTIONS for the economy --- still not considered:
    > [1] Rescind Mark-to-Market accounting;
    > [2] Rescind Sarbanes/Oxley;
    > [3] Reinstate UPTICK RULE by SEC;
    > NONE OF THESE COSTS A DIME!!!!!!!!!!
    >
    > But why do them CONGRESS IS SPENDING their way out of this mess......
    > Isn't that what CONGRESS' DO??????? Hey, Congress acts as though
    > they have money.........too ignorant to even know that AMERICA IS
    > BANKRUPT!!!!!!!!!!
    >
    > Being a MILLIONAIRE once meant something--a significant amount of
    > money symbolizing wealth and success. NOW, being a BILLIONAIRE has
    > replaced the peasants who only have a million. Heck, TRILLIONS is
    > the new amount designate for REAL MONEY ------ IN AMERICA!!!!!!!!!!!
    >
    >
    > After all, America is the strongest, richest, smartest, well educated,
    > most productive, innovative, ethical and moral country in the history
    > of the world.......... AREN'T WE?????????
    >
    > That's what we keep getting told............
    Dec 04 11:21 am |Rating: 0 0 |Link to Comment
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