Banking With Fools

It must be said as a proof to the political acumen of FDR after the Great Depression, the United States had 40 years of economic growth,without a single financial crisis. The financial industry was tightly regulated. Most regular banks were local businesses, and they were prohibited from speculating with depositors’ savings. Investment banks, which handled [...]

Read Full Post »

A Quote

In my kindergarten days I was taught to share what I have got with others. In the corporate world I find just the opposite. One need only look at the way AIG top brass have, in 2008, given bonus themselves. benny

Read Full Post »

A Billionaire for 5 hours

Paul Fischer was a man whom all looked with envy. Why you might ask. He checked his bank account Friday night and found his balance like the bean in the Jack and the beanstalk story had shot up to $88,888,888,888.88. Of course, the balance was a technical error by SunTrust Bank which they fixed in [...]

Read Full Post »

Fasten Your Seatbelts…

“Worst Is Yet to Come:” Americans’ Standard of Living Permanently Changed Posted Feb 17, 2009 12:53pm EST by Aaron Task in Investing, There’s no question the American consumer is hurting in the face of a burst housing bubble, financial market meltdown and rising unemployment. But “the worst is yet to come,” according to Howard Davidowitz, [...]

Read Full Post »

Days of Wine and Roses,

“Government is trying to inject some liquidity into the market and how does AIG executives take it? Wining and dining at some fancy party is how they see the bailout.” Nero eat your heart out! benny

Read Full Post »