BerkeleyBob

Wall Street Breakfast: Must-Know News

I am puzzled by the jury's acquittal of the two Bear Stearns fund managers. Looked like a prima facie case of misrepresentation, looked quite similar to what caused Henry Blodgett to change careers. As to AIG, it was not (just) a rogue division headquartered in London that imploded. Hank Greenberg, quite unrepentant, was forced to resign because he approved sham transactions with a reinsurer to prop up AIG's stated assets. I am sure many fine and ethical people worked for AIG but there was rot at the top of that organization, which was structured to evade to the maximum extent possible, any and all government regulation.

Reviewing My Portfolio Christmas Shopping

Interesting and candid post. You have done better than I have. I recently added to PBR and EWZ position. I like the former better than any of the other major integrated oils.

Wall Street Breakfast: Must-Know News

I am not concerned too much by federal bailout funds used by AIG to unwind CDO's etc., the so-called "external" payments. The risk was drastically mis-calculated but leaving foreign central banks and institutional investors (pension funds, etc.) to take the loss would ruin our standing in the international marketplace. The financial crisis is global in scope, and we are all interdependant in ways we don't fully understand. The "internal" payments to the geniuses who created the mispriced trades (not insurance, not regulated) are another matter. Why wouldn't any taxpayer have standing to block the payments? It is our money. AIG executives are dancing on the rim of a volcano.

Earnings Preview: Cisco Systems

You are correct on one thing--your post was off topic. Please don't let this website degenerate into the Yahoo finance company boards!