Thoughts
You can be negative and cry about your stocks, or you can be happy that you did not buy a house. And don't think it will magically not happen in Toronto and Vancouver. Ideally, you would own a $500,000 house in the suburbs, own tons of financials in your portfolio, and then lose your job.
http://biz.yahoo.com/ap/080930/home_prices.html
Enron
Hey, can somebody please diagram for me why the fine people from Enron should not be allowed out of prison? Seems like they were pioneers, not criminals.
Labels: Economy
Paulson
What's funny is that Henry Paulson used to be CEo of Goldman Sachs. When he started working for the government, he would have been forced to move all of his money to treasuries to avoid conflict of interest. That probably saved him many millions of dollars. Of course, he is bailing out all his old friends, but what is a few trillion here and there?
Best quote I have heard in a while: "Henry Paulson and Ben Bernanke are screwing so many future generations that they should have to register on the pedophile sex offender website."
"We are from the government and we are here to help."
Labels: Economy
Thoughts on the Fannie/Freddie Ordeal
The treasury secretary Henry Paulson, an unelected official, and Ben Bernanke, an unelected official, decide to increase the national debt by $1-$5 trillion during a weekend.
Ohhhhhhh... and Henry Paulson, if I am not mistaken, used to be CEO or chairman of Goldman Sachs.
And Bill Gross, who runs the biggest bond fund in the world, seems over joyed about the whole thing. What's this? His fund was 65% in Freddie and Fannie backed bonds? oh.
And Chris Dodd, the senate banking head, says he is interested in getting more information about the whole thing. WTF? Was he not invited to the meeting? But wait, his name is on the bill for the government take over.
All these taxes and debt and 50 million people don't have health care. Good work. Fine work.
Sad.
Labels: Economy
