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  • Wall Street Breakfast: Must-Know News [View article]
    "GMAC Financial Services and the Treasury are reportedly in advanced talks to prop up the auto-lender with its third helping of taxpayer money, making it the first of the stress-tested banks to need additional government capital. ....... The government's willingness to deepen taxpayer exposure to GMAC reflects the troubled lender's importance to the revival of the auto industry."

    Call me a skeptic, but the gov't's willingness to throw good money (to GMAC) after bad reflects the importance of the unions to the democrats and the brazenly unethical qualities of the Obama administration.
    Oct 28 09:58 am |Rating: +7 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    For what it's worth, Hazem Khalid Al-Braikan should be executed or, perhaps worse, fined to the tune of 3-10 times the amount he inappropriately profited from his illegal scheme. I suspect he will ignore the SEC lawsuit or bargain it down to a tolerable out-of-court fine. Any meaningful punishment will likely be the responsibility of our dubious ally, Kuwait. How Kuwait ends up treating Hazem Khalid Al-Braikan will be telling on how Kuwait really feels about the US; real ally and friend or oil customer to be exploited to maximum possible. Failure to properly punish will, like meaningful punishment, give a good indication of what Kuwait really thinks of the US, and failure to properly punish will encourage further similar shenanigans by other Kuwaiti rich guys.
    Jul 24 12:15 pm |Rating: +2 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I watched the Geithner swearing in ceremony yesterday; about 7:30 PM ET. The room was full of presumably Treasury employees. Wonder how many of them were on the clock, even getting overtime perhaps?
    Jan 27 10:04 am |Rating: +1 0 |Link to Comment
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