The SEC is merely a overpaid group of "look the other way" representatives of the insiders and investment firms who cost the public far, far more in their "look the other way" oversights than the total cost of the SEC annual budget. Now and then they make the news with a random culprit charged and the result is the culprit is slapped on the wrist, and his (her) company is fined by the SEC, ie the public stockholders absorb the crime and take the punishment . Our government is action, once again.
Moody's Predicts Tripling of Corporate Default Rates [View article]
The rise of corporate debt and the forecast for more default of such can be blamed on a number of reasons. The largest reason or cause in many companies is the year after year of bleeding corporate cash by insiders via outrageous options dealing. SEC under Cox cited a couple (there are many) of these for the public's benefit but rather than require restitution from the greedy over paid but under performing "executives". The corporations got fined, the public stockholders get screwed again and the corporations have to replace this operating capital with bonds or banks loans. What ever happened to the legal term "arm's length" in relation to insiders grabbing all the can?????
Plunge Protection Team Attacks BofA: This Ends Now [View article]
Reading your indepth article confirms the bases of the bulk of our present economy disaster. Does my memory serve me correctly that both Paulson and Bernanke requested waiver of any civil or criminal actions against them when they originally presented their "Bailout request"? Frankly it appears the United States' economy situation is similar to that of Germany prior to the rise of Hitler, only on a much larger scale. The Mark tumbled -- the Dollar will follow. The public will only regain confidence in the government, banks, brokers, and the stock market when some of the many culprits are heavily punished for their greed and crimes. SEC (under Cox and I don't see the current group any better) did very little but set back and watch. When a couple of insiders were caught on the "option scaming", their hands were slapped and the corporation was fined. The guilty go free and again the stockholders get screwed.
As a puppet, I believe he is doing just what he is told, ie when he isn't out on the golf course. What I want to know is his golf scores and is he improving?
Thain Calls Lewis a Liar: BofA Saga Continues [View article]
It appears that Goldman is and has been running the country's finances, lock, stock, and barrel. As for Lewis and Thain, where is all the documentation to either prove or disprove their verbal contradictions?? The BONUSES have to be challenged in all respects as the payment of bonuses in light of the extreme operating losses can't be considered ethical, legal, nor having stockholder approval. Are these the very people who caused the operating losses with questionable dealings?????
Take That, Paulson: Finally, One for the Good Guys [View article]
Mr. Lewis keeps coming up with more (I think or thought) responses and continues as the king of most evasive insiders in the banking debacle. Is there a question as to whether he knew the whole Merrill deal (yes, including the last minute "bonuses") or not? If he didn't, then he has to be the most inept CEO on this earth and if he did, he knowingly defrauded the public, the stockholders, and the government. EITHER WAY, full investigation and proper punishment is in order
Was Ken Lewis Silenced, Threatened by Bernanke and Paulson? [View article]
Mr. Lewis keeps coming up with more (I think or thought) responses and continues as the king of most evasive insiders in the banking debacle. Is there a question as to whether he knew the whole Merrill deal (yes, including the last minute "bonuses") or not? If he didn't, then he has to be the most inept CEO on this earth and if he did, he knowingly defrauded the public, the stockholders, and the government. EITHER WAY, full investigation and proper punishment is in order.
"Uncertainty over top bank executives" should be the name of this article. The same crew continues to control the ship's bridge even though the financial ship has many hull damages and is slowly sinking.
Gold Up Sharply as the Bear Market Rally Falters [View article]
Anyone who says we are not in an inflationary period has not bought groceries, doesn't have insurance on autos, house and health, doesn't have utilities, electric, phone, cable/dish tv, etc, etc. The poor are getting poorer and the middle class is shrinking daily. Deflation is only what is happening in the brains of Washington and insiders in the banks and other large corporations. Insiders continue to drain cash (via bonuses and wow, the options scam) from the corporations so they have to go to the banks and bond issues to replace needed operating cash. This is the most outrageous form of embezzlement and greed.
BofA Given Hush Money: Will Lewis Step Down? [View article]
Lewis states that he was told to keep quiet but did this also mean that he would be so stupid as to also allow the Twain bonuses and simply act like a empty headed top management figurehead. The deal he made for Merrill was not in the best interests of B of A nor its stockholders. It should have been a bargain basement transaction based on Merrill real condition and the "surprise" bonuses.
Seeing Through Bank of America's Earnings; Ousting Ken Lewis [View article]
Claims are made for public satisfaction and then too soon forgotten by the government agencies and "officials" such as Cuomo. They really don't want to wash the very dirty linen in public. As this current mess is not finding the rotten apple in the barrel but rather trying to find if there is even one good apple in the barrel of very rotten apples. What is really disgusting and disturbing is that the culprits who are responsible for this mess are either still in charge or have walked away with a large amount of cash to add to previous excessive "compensation".
Credit Bubble: Who Lent to the Hedge Funds? [View article]
Good article but as scary a picture as I have seen. Why are the insiders behind these schemes NOT IN JAIL. Also WHY are the accounting (auditors??) firms not being charged with collusion? AND certainly where was Chris Cox and his overpaid but do nothing SEC staffers? I have been saying for years that the stock market was a far riskier bet that Las Vegas where we knew the odds were not in our favor. The last five or six years have brought about the ruin of all remaining integrity and confidence of the stock market
Converting TARP's Preferred to Common Stock - Great Idea [View article]
It is obvious this author must have been a former congressman as it mirrors the lack of logic and understanding that is so prevalent in Washington and too many of our investment and banking "executives" as well. IS THERE NO HOPE???
What's Driving Gold and Gold Stocks: Part 1 [View article]
A year ago, the word "manipulation" as referred to insane volatility of the market was scoffed at, can't happen, you're crazy BUT now this word is being used in a majority of market editorials and the TV news channels reportings. Scheduled sell offs by market categories is prevalent daily regardless of individual firm financial stats or specific breaking news WHICH normally are the causes for a stock's movement in price and/or volume. It has not been that many years ago that an investor could fall asleep looking at his stock portfolio's inaction for weeks or even months. The big money boyz are controlling the market at the loss of the general public investors. Add to the out drain of corporate cash by insiders, a recent look at a large company, reflected treasury stock at over $17 billion, the public investors lose again.
Replace Ken Lewis with a Lawyer? What a Swell Idea [View article]
Lewis out, the earlier the better, with only the shirt on his back. Frankly he should be sued for malfeasance of office and for most of what he has received from B of A. As for replacement, a proven heavily experienced accountant/manager who would get a firm grip on what the bank's assets are, make needed adjustments, and move forward. Lewis does not even appear to be in charge as he doesn't appear to know the bank's real position/status. GLIB, GLIB as experienced with his knowledge and handling of the bank's last two infamous acquisitions.
Who Is the SEC Supposed to Serve? [View article]
slapped on the wrist, and his (her) company is fined by the SEC, ie the public stockholders absorb the crime and take the punishment .
Our government is action, once again.
Moody's Predicts Tripling of Corporate Default Rates [View article]
grabbing all the can?????
Plunge Protection Team Attacks BofA: This Ends Now [View article]
The public will only regain confidence in the government, banks, brokers, and the stock market when some of the many culprits are heavily punished for their greed and crimes. SEC (under Cox and I don't see the current group any better) did very little but set back and watch. When a couple of insiders were caught on the "option
scaming", their hands were slapped and the corporation was fined.
The guilty go free and again the stockholders get screwed.
Rating Obama's First 100 Days [View article]
Thain Calls Lewis a Liar: BofA Saga Continues [View article]
as the payment of bonuses in light of the extreme operating losses
can't be considered ethical, legal, nor having stockholder approval.
Are these the very people who caused the operating losses with questionable dealings?????
Take That, Paulson: Finally, One for the Good Guys [View article]
EITHER WAY, full investigation and proper punishment is in order
Was Ken Lewis Silenced, Threatened by Bernanke and Paulson? [View article]
EITHER WAY, full investigation and proper punishment is in order.
Uncertainty Over Bank Stress [View article]
Gold Up Sharply as the Bear Market Rally Falters [View article]
BofA Given Hush Money: Will Lewis Step Down? [View article]
Seeing Through Bank of America's Earnings; Ousting Ken Lewis [View article]
What is really disgusting and disturbing is that the culprits who are responsible for this mess are either still in charge or have walked away with a large amount of cash to add to previous excessive
"compensation".
Credit Bubble: Who Lent to the Hedge Funds? [View article]
AND certainly where was Chris Cox and his overpaid but do nothing SEC staffers? I have been saying for years that the stock market was a far riskier bet that Las Vegas where we knew the odds were not in our favor. The last five or six years have brought about the ruin of all remaining integrity and confidence of the stock market
Converting TARP's Preferred to Common Stock - Great Idea [View article]
IS THERE NO HOPE???
What's Driving Gold and Gold Stocks: Part 1 [View article]
a recent look at a large company, reflected treasury stock at over $17 billion, the public investors lose again.
Replace Ken Lewis with a Lawyer? What a Swell Idea [View article]