Leftfield

Wall Street Breakfast: Must-Know News

Perhaps small business lending is not prudent in this economy. Then, why did the taxpayers go into hock extra $trillions to back Wall St? That's still real money on Main St., where virtually no relief has gone.

There was no mention on CNN in last night's BO/bankster meeting coverage about the CIT CEO not showing up. He had to put together the stock dilution to pay back TARP. Imagine if the GM CEO didn't make it to such a meeting. Who's our daddy?

What’s My Payment?

Besides the necessary downsizing of the unaffordable consumer economy, I hopefully await the downsizing of unaffordable, bloated government.

Credit Card Legislation: An Exchange

As a witness to the decline of the formerly middle class these last few decades, I believe that we have a society where the top income tier are mostly wanton exploiters who milk every dime for short-term gain for themselves. Example: Executive compensation reform of the 80's that was touted as performance-based, was gamed egregiously for their short-term benefit and gave us the Wall St. implosion.
Businesses, bureaucracies and institutions are run by MBA types who care nothing about a specific product or industry they manage and run it into the ground laughing their way to the bank personally.
The country was built by imaginative, energetic, enthusiastic innovators of their business. It is being dismantled by the exploitive empty suits running just about everything now.

Cramer's Stop Trading! They're Going to Make an Example of Ken Lewis (5/7/09)

Lewis is clearly not on the inside of the insiders. GS shamelessly slammed the taxpayers when they took over Bear Stearns and comes out smelling like, whatever makes them successful in DC. Look who Lewis, by doing a far less one-sided deal for Merrill, was helping? He apparently saved the government money and looked weak. Neither is valued by that claque. He was supposed to be representing the interests of BAC first, and he appears to be in no man's land now.