I don't have much of a problem with your old boss buying companies
and folding. His company - private business.
I have a HUGE problem with the adminsitration bailing out these huge
corporations.
I thought President Bush only maimed capitalism; apparantly he's
killed it completely.
I guess giants of capitalism actually don't mind socialism, so long
as the money is going just to them.
These bailouts are worse than socialism - we are socializing just the
losses while still privatizing the profits.
Talk about encouraging bad behaivior - if I'm an AIG competitor like
Travelers, etc., right now I'm tellng my employees "Let's take a shot
if making a forune on something risky - if we fail the government
will shift the burden to the taxpayer."
How ironic. Us indemnifying insurance companies, who are notorious
for not honoring your indemnity contract when you make a claim
against your insurance policy.
I won't stray too far from the phnoe tody. My business did lousy
last quarter and I'm waiting to see if the President calls with a
promise to bail me out.
--- In AsburyPark@yahoogroups.com, Rock Musician <[EMAIL PROTECTED]> wrote:
>
> It would not be this way in wall street right now , If the Ceo's
the top executives and all other owners of these companies were
responsible for the debt that was killing there company. Right now
The corporations that are folding and they are walking away with
billions of dollars , Mansions and everything that goes with it. They
should be walking away with NOTHING> No Loop holes or anything ---
They should loose it ALL.
>
> The law has to be changed. They should be 100% Liable for the
corporation they run. They get paid way too much money, claiming that
it is what they are worth. Scaling their worth on how many people
they Employ. Well now they are employing people. If they rape the
company for billions and are in the red, they take it from the
employed people. Pay cuts, Benefit cuts, etc.. and or including
folding the company. But they still get billions. Wow , what a
business!
> I think I am going to buy a company that makes 1 million a year. I
will pay myself 2 million a year, Cut everything I can from my
employees AND FOLD THE BUSINESS. I will walk with 2 million and the
company, employees will be shit outta luck. ( I have worked
for 2 corporations that have gone this route. )The last corp. I
worked for, I made friends with the CEO. I played the game for
severance pay. He told me that this is what he does for a living--
Buying and Folding. Because the law allows it. Well now they are all
doing it.
>
>
>
> ----- Original Message ----
> From: radio881gal <[EMAIL PROTECTED]>
> To: AsburyPark@yahoogroups.com
> Sent: Friday, September 19, 2008 10:26:42 PM
> Subject: [AsburyPark] Why Wall St. Will Feel Right Next Door -
Disinformation on Wall St. Meltdown
>
>
>
> I just couldn't keep quiet anymore, watching the newscasters
> struggle with the Wall St. meltdown, which yes is relevant to
Asbury
> Park and any community that has to borrow money. So here it is.
>
> OKay, I'm no financial genius, but...
>
> I've been interviewing quants - rocket science level financial
> geniuses - for years now about how they create the complex
> securities that have enriched a generation of Wall St. elites. And
> I've always wondered how anyone could predict what the chain
> reaction of a collapse of this hugely complex, global market would
> look like? Ironically, a lot of these instruments are bought to
> reduce the risk of other investments failing. In credit
derivatives,
> they may start with a simple credit situation - like a mortgage - a
> buyer and debt holder. But the investments that are sliced and
> diced, reshuffled and morphed into new complex instruments would be
> impossible to identify from the original source.
>
> It's like some older people I've met who are taking 18 meds a day.
> What doctor can really monitor the interactions of all those
complex
> compounds on a living changing entity. Not a bad analogy really.
> (Alot of people are going to have more trouble paying for those
> meds.)
>
> Now for what drove me to post this on an otherwise Asbury Park
> focused site:
> The current administration keeps refering to the mortgage industry
> as having caused this Wall St. collapse. But the institutions that
> offer mortgages - so far - have not been the ones to fall. Yes,
WaMu
> and a few other mortgage lenders are on the brink. But commercial
> banks are doing fine. Sovereign Bank, certainly Bank of America!
> aren't in trouble. It's the investment banks that deal in those
> structured products that are being bailed out or forced into
> marriage.
> There's more and I'd like to know what you think. It's at
> www.asburyradio. com
> Thanks for reading...
> Maureen
>
>
>
>
>
>
>
> [Non-text portions of this message have been removed]
>
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