Todd Harrison, a former Galleon managing director, speaks out for the first time: "When history reflects on this era of inequity, Galleon will be the poster child for greed; the people have spoken, and they've done so loudly." [View news story]
How does Anthony Mozilo get off so easy? He has to be up there with the rest of the goons.
Joe Biden is to meet with Democrats and Republicans today about raising the $14.3T debt limit by August 2. The sides are considering deficit targets and some spending cuts whilst leaving healthcare and taxes for after the 2012 election. To get through 2012, the Treasury needs a $2T increase. [View news story]
"leaving healthcare and taxes for after the 2012 election" Way to be a stand-up and deal with the real problems facing this nation. Like I stated before there will never be an honest attempt at deficit reduction, period. BTW, you know it is bad when we start spending trillions like millions.
"Has any single human being, either directly or indirectly, cost the United States more money than Osama bin Laden?" Ezra Klein considers the direct effects on the economy from 9/11, the wars in Afghanistan and Iraq, enhanced security measures, high oil costs that may have started the credit bubble that led to the financial crisis... "we're talking about many trillions indeed." [View news story]
If I had my vote Bernanke and Geithner are right up there as costing our society trillions and reducing future standard of living.
Fed policy has pumped up the stock market and allowed companies to borrow money at low rates, but few others enjoy benefits, so many economists view QE2 as a disappointment. But Ryan Avent thinks the program has been mostly a success: "Growth in the first quarter is disappointing, it’s true. Without QE2 it would be more disappointing still, and very probably negative." [View news story]
At least we would be off the crack, and long term better for it.
Charlie Gasparino downplays much of Wall Street that treats potential U.S. default as a serious threat to the world's financial well being; tax revenues on hand, savings from furloughing government workers and other measures surely would allow the U.S. to meet its obligations, he says. "We ain't Greece just yet," Gasparino reassures. [View news story]
A Barron's poll shows that more than half of U.S. money managers expect further stock market gains in 2011, but you'll have to pick your spots. Some of their favorite stock picks for the next 6-12 months: AAPL, BAC, CSCO, ABT, F. The pros also forecast a continued elevation in oil prices, now above $100/barrel. [View news story]
Did anyone think they would predict anything that didnt enhance thier pocketbook?
Bank of American wins dismissal from a lawsuit brought by investors who purchased MBS from Countrywide. A U.S. District Judge agrees with BoA's argument that Countrywide is a separate wholly owned subsidiary whose actions cannot project liability on the parent. [View news story]
Ken,
Thanks for being able to follow my thinking. That is why I try and follow smaller companies growing and have a perpencity to think outside the box. Most of these mega mergers that I follow hve all been flopps and you can also throw in the MBNA acquisition, you have CC, mortgages all at the height of the bubbles. Makes no sense to me. And all of this shows as most of these large caps have returned nothing to shareholders the last decade.
Does the BLS do algebra? That the CPI for apparel prices fell in March is sure to draw a chuckle from the folks who sell it. Sometimes just jacking prices, but often using a stealthier approach, retailers are passing on cost increases to customers, with the hikes set to grow larger in coming months. [View news story]
The methodology that you point out is in fact the root of the problem. It ls because the ELI items contained witin the sample that are collected are very narrow based and do not represent a very good or adequate sample size to do an appropriate analysis. Also dealing with retail apparel prices most of the items currently in the sample are prob winter items being heavily discounted and showed a drop in prices. But I doubt many people were buying winter items going into the spring season.
Bank of American wins dismissal from a lawsuit brought by investors who purchased MBS from Countrywide. A U.S. District Judge agrees with BoA's argument that Countrywide is a separate wholly owned subsidiary whose actions cannot project liability on the parent. [View news story]
Ken,
You are right the people running exxon are to smart to acquire that dog. But I was just throwing out a hypothetical situation and stating that just because a company gets acquired and becomes a subsidiary the acquiring company is still on the hook for what damage was done. And I am pretty sure the people at BAC knew that Countrywide was full of scandals.
Bank of American wins dismissal from a lawsuit brought by investors who purchased MBS from Countrywide. A U.S. District Judge agrees with BoA's argument that Countrywide is a separate wholly owned subsidiary whose actions cannot project liability on the parent. [View news story]
Tom,
While agree with you in principle, tell that to the investors who loss thier ass in the MBS scam from countrywide. I am all for businesses making a profit but this is this type of crony capitalism that gives real businesses a bad name. And has unfortunately made the word or idea of turning a profit a bad thing. Most of our companies do it the right way, but screwing your own clients at your benefit should not be one of the ways to profit (just my opinion).
Bank of American wins dismissal from a lawsuit brought by investors who purchased MBS from Countrywide. A U.S. District Judge agrees with BoA's argument that Countrywide is a separate wholly owned subsidiary whose actions cannot project liability on the parent. [View news story]
The U.S District Judge is an Obama shill. I remember many cases of aspestos where a larger company would acquire a smaller one without knowledge of the liability at the time. Years later when the aspestos lawsuites came out they got every large company and most of thier exposure was from subsidiaries they had acquired. If this was precedent what would stop a company like BP to just sell themselves to say Exxon to prevent the lawsuits? They could use the argument that Bp now a seperate wholly owned subsidiary cannot project liability on the parent (Exxon). This country has lost its moral compass.
After his pompous declaration that there's "no risk" the U.S. will lose its AAA credit rating and other statements, Geithner has downgraded his own credibility to "junk," Jonathan Weil writes. "The problem for leaders who make indefensible claims like this one is that, after a while, nobody knows whether to believe anything they say." [View news story]
MMM, "after a while, nobody knows whether to believe anything they say." Anybody that even for a minute embraces what these shills and hacks say might even be remotley true is just sick. Honestly this country is doomed if these creeps are the best our country has to lead it. And when was Geithner even considered even somewhat credible? Not in my lifetime that is for sure. Honestly the American people deserve better than this, WAKE UP PEOPLE!!!
Lee Farkas is convicted on all of 14 counts in a $2.9B fraud case. Farkas was the chairman and majority owner of former mortgage giant Taylor Bean & Whitaker. His actions led to its collapse along with that of Colonial Bank's. He could now get life. (previous) [View news story]
Yet, the crook Angelo Mozilo walks away squeaky clean. Mazilo must have paid of the right people.
The Alabama-based law firm that sought to force Taco Bell (YUM +0.4%) to stop calling the meat it serves "beef" says it has withdrawn its class action lawsuit. Shares are up, but more likely from a Morgan Stanley report that finds Yum Brands and some other restaurants appetizing investments. [View news story]
No, that would make too much sense. Another form of wealth distribution, prob into the pockets of some politicans that have sold this country into an abyss.
The Alabama-based law firm that sought to force Taco Bell (YUM +0.4%) to stop calling the meat it serves "beef" says it has withdrawn its class action lawsuit. Shares are up, but more likely from a Morgan Stanley report that finds Yum Brands and some other restaurants appetizing investments. [View news story]
Todd Harrison, a former Galleon managing director, speaks out for the first time: "When history reflects on this era of inequity, Galleon will be the poster child for greed; the people have spoken, and they've done so loudly." [View news story]
Joe Biden is to meet with Democrats and Republicans today about raising the $14.3T debt limit by August 2. The sides are considering deficit targets and some spending cuts whilst leaving healthcare and taxes for after the 2012 election. To get through 2012, the Treasury needs a $2T increase. [View news story]
"Has any single human being, either directly or indirectly, cost the United States more money than Osama bin Laden?" Ezra Klein considers the direct effects on the economy from 9/11, the wars in Afghanistan and Iraq, enhanced security measures, high oil costs that may have started the credit bubble that led to the financial crisis... "we're talking about many trillions indeed." [View news story]
Fed policy has pumped up the stock market and allowed companies to borrow money at low rates, but few others enjoy benefits, so many economists view QE2 as a disappointment. But Ryan Avent thinks the program has been mostly a success: "Growth in the first quarter is disappointing, it’s true. Without QE2 it would be more disappointing still, and very probably negative." [View news story]
Charlie Gasparino downplays much of Wall Street that treats potential U.S. default as a serious threat to the world's financial well being; tax revenues on hand, savings from furloughing government workers and other measures surely would allow the U.S. to meet its obligations, he says. "We ain't Greece just yet," Gasparino reassures. [View news story]
A Barron's poll shows that more than half of U.S. money managers expect further stock market gains in 2011, but you'll have to pick your spots. Some of their favorite stock picks for the next 6-12 months: AAPL, BAC, CSCO, ABT, F. The pros also forecast a continued elevation in oil prices, now above $100/barrel. [View news story]
Bank of American wins dismissal from a lawsuit brought by investors who purchased MBS from Countrywide. A U.S. District Judge agrees with BoA's argument that Countrywide is a separate wholly owned subsidiary whose actions cannot project liability on the parent. [View news story]
Thanks for being able to follow my thinking. That is why I try and follow smaller companies growing and have a perpencity to think outside the box. Most of these mega mergers that I follow hve all been flopps and you can also throw in the MBNA acquisition, you have CC, mortgages all at the height of the bubbles. Makes no sense to me. And all of this shows as most of these large caps have returned nothing to shareholders the last decade.
Does the BLS do algebra? That the CPI for apparel prices fell in March is sure to draw a chuckle from the folks who sell it. Sometimes just jacking prices, but often using a stealthier approach, retailers are passing on cost increases to customers, with the hikes set to grow larger in coming months. [View news story]
Bank of American wins dismissal from a lawsuit brought by investors who purchased MBS from Countrywide. A U.S. District Judge agrees with BoA's argument that Countrywide is a separate wholly owned subsidiary whose actions cannot project liability on the parent. [View news story]
You are right the people running exxon are to smart to acquire that dog. But I was just throwing out a hypothetical situation and stating that just because a company gets acquired and becomes a subsidiary the acquiring company is still on the hook for what damage was done. And I am pretty sure the people at BAC knew that Countrywide was full of scandals.
Bank of American wins dismissal from a lawsuit brought by investors who purchased MBS from Countrywide. A U.S. District Judge agrees with BoA's argument that Countrywide is a separate wholly owned subsidiary whose actions cannot project liability on the parent. [View news story]
While agree with you in principle, tell that to the investors who loss thier ass in the MBS scam from countrywide. I am all for businesses making a profit but this is this type of crony capitalism that gives real businesses a bad name. And has unfortunately made the word or idea of turning a profit a bad thing. Most of our companies do it the right way, but screwing your own clients at your benefit should not be one of the ways to profit (just my opinion).
Bank of American wins dismissal from a lawsuit brought by investors who purchased MBS from Countrywide. A U.S. District Judge agrees with BoA's argument that Countrywide is a separate wholly owned subsidiary whose actions cannot project liability on the parent. [View news story]
After his pompous declaration that there's "no risk" the U.S. will lose its AAA credit rating and other statements, Geithner has downgraded his own credibility to "junk," Jonathan Weil writes. "The problem for leaders who make indefensible claims like this one is that, after a while, nobody knows whether to believe anything they say." [View news story]
Anybody that even for a minute embraces what these shills and hacks say might even be remotley true is just sick. Honestly this country is doomed if these creeps are the best our country has to lead it. And when was Geithner even considered even somewhat credible? Not in my lifetime that is for sure. Honestly the American people deserve better than this, WAKE UP PEOPLE!!!
Lee Farkas is convicted on all of 14 counts in a $2.9B fraud case. Farkas was the chairman and majority owner of former mortgage giant Taylor Bean & Whitaker. His actions led to its collapse along with that of Colonial Bank's. He could now get life. (previous) [View news story]
The Alabama-based law firm that sought to force Taco Bell (YUM +0.4%) to stop calling the meat it serves "beef" says it has withdrawn its class action lawsuit. Shares are up, but more likely from a Morgan Stanley report that finds Yum Brands and some other restaurants appetizing investments. [View news story]
The Alabama-based law firm that sought to force Taco Bell (YUM +0.4%) to stop calling the meat it serves "beef" says it has withdrawn its class action lawsuit. Shares are up, but more likely from a Morgan Stanley report that finds Yum Brands and some other restaurants appetizing investments. [View news story]