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Senior Contributor

These guys don't know

 

with in 1/4 to a half a million their own salary but they want us to know how tough it is to manage a 700 billion portfolio.  Look lets keep investment money separate from customer money and fire the sob's.  Why does this country need to invest money they don't have... let me rephrase that. Why not just pay off some debt?

 

 

 

 

 

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5 Replies
Honored Advisor

Re: These guys don't know

I think Haldeman knows how much he makes, just not how much the next guy is being paid...which a CEO should brush up on before being called to the Hill. I have been really lax on watching and reading the news for the past several weeks - been busy with dauter and new grandson, which are infinitely more important to me. Did see Colbert and Stewart giving attention to the Bloomberg News story about the TARP being a minor fraction of what was actually extended to the banks in the mortgage meltdown. I was stunned. Apparently, while all of us, including Congress, were focused on and ticked off by the $700 billion in TARP, the Fed was lending banks ELEVEN times that amount - that's right, $7.7 TRILLION - at 0.01% interest. The banks bought treasuires with that money, and pocketed $13 billion...all of this, of course, at taxpayer expense. That is roughly half the damned GDP, loaned effectively at zero interest, to prop up pur banking sector. I was leaning towards some more conservative decisions financially, and this has pushed me over that edge. The financial system is way more fragile and brittle than we thought, than we were told to be terrified about, in order to get us to swallow TARP. Granted, I need to do more research. Talked with my investment guy yesterday, and he cannot say much calming about the way things are fluctuating so wildly on every rumor. Thanks form the link...gives me even more food for thought.
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Honored Advisor

Read this and weep....

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Senior Contributor

Re: Read this and weep....

Obliviously some investment bankers made some bad decisions with other folks money.

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Senior Contributor

Re: Read this and weep....

That would be silly to pay off debt... no let's just double down with other folks money.

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Senior Advisor

Re: Read this and weep....

 Instead of   toooo  BIG  to  fail  --- should be to big to "let fail"--- cousre it is the time of year for  ""snow  balling"" ?   

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