With the sharp plunge of Dow Jones Industrial Average, especially after the rejection of the bailout bill this afternoon, this question baffles us all. But for the past several days/weeks/months, numerous small, medium and large banks and financial institutions are sending out S.O.S. calls for urgent assistance. Some are allowed to die, others are being … Continue reading DJI plunged 777 points… Who benefits?
If I'm against the bailout bill, they say I'm "for depression"; If I'm for the bailout plan, I'm "saddled with stupendous taxes". This wasn't about win-win, this was about who crumbles, before the other tumbles! Today, are we certain about who all will suffer from the fall of the mighty great Wall?
Read here for Steve Lohr's analysis on the bailout in The New York Times.
While frenzied talks of bailouts are ongoing in the US Congress, European governments have moved to shore up their teetering banks, including the troubled Belgian-Dutch Fortis, Germany's Hypo Real Estate Holding AG and Iceland's Glitnir hf; Bradford & Bingley of UK have joined Northern Rock. Wonderful solutions notwithstanding, markets around the world are crashing, left, … Continue reading Bailouts: the new buzz word; the “wonderful solution”!
For just a buck a share! "All deposits are fully protected.... Wachovia did not fail; rather, it is to be acquired by Citigroup Inc. on an open bank basis with assistance from the FDIC." “For Wachovia customers, today’s action will ensure seamless continuity of service from their bank and full protection for all of their … Continue reading Bank buckles… Citi grabs Wachovia!
First, it was Bear Stearns. Now, as they say, "It's business, as usual". Do we have a say? WaMu Customers, Welcome to JPMorgan Chase>
Pleading for support, bent on one knee, urging Nancy Pelosi "not to blow it up", could Mr Paulson possibly have worn this expression! Leaving Capitol Hill on Thursday night, wearing a smug smile, does not bode well for the nation. The fate of millions hangs; it reeks of the smile before the slaughter that will … Continue reading Reasons to be smug & smooth… not yet!
Follow the link here... to read comments with hundreds of recommendations from registered readers of The New York Times article. "Mr. McCain and his Democratic opponent, Senator Barack Obama, left the White House by a side entrance without commenting." Oops! 😦
For the longest time I used the word 'oversight' only while referring to inadvertent errors, or omissions resulting from 'not looking at' something. It irks me intensely when 'oversight' is used to express something diametrically opposite to this i.e. to refer to 'supervision' or 'watchful care' (the dictionary meanings). e.g. Taking the ongoing Financial Meltdown … Continue reading Overuse (or misuse) of the word ‘oversight’…
Oscar winner Michael Moore opened the flood-gates to his brand new film, "Slacker Uprising". This is his way of saying "thank you" to the millions who've watched his movies for twenty years. What's more... a novel hook (in marketing parlance) to grab the over 18 year-olds, cajoling them to go vote... to save thy country. … Continue reading Gratitude rolled in with “Grab ’em Young”… Michael Moore