$18,400,000,000.00 18.4 billion dollars. According the NY state comptroller, that's what was paid out in bonuses on Wall Street last year as the American people lost nearly half of their investment portfolios... about the same amount in bonuses that were paid out in the supposed boom of … [Read more...] about Obama ashamed of Wall Street
corruption
I am thankful for…
...our current circumstances. Rather than ignore the current economic problems, I choose to acknowledge this elephant in the living room during our Thanksgiving holiday. We are bombarded with headlines like "What will fix our economic problems?" It is absolutely silly. The recession is the solution … [Read more...] about I am thankful for…
Our free(ish) market becomes less free with the ban of short selling
A couple of weeks ago, the SEC illegalized a type of investing that makes a market what it is - short selling. Simply put, a person can bet on the market going up by "going long" and buying securities in hopes of selling them for a higher price at a later date. Long positions can be leveraged by … [Read more...] about Our free(ish) market becomes less free with the ban of short selling
Who will bail out the government?
Although the House rejected the recent $700 billion bailout, there is plenty of bailing out that has already happened, and there is more to come. Already: $80 billion injected into failed AIG IndyMac bank taken over by FDIC Bank of America bought Merrill Lynch for $50 billion - 70% over its … [Read more...] about Who will bail out the government?