Where the house of cards built by Wall Street is continuing to fold, collapse and the people who are responsible are getting a second look by the Obama Administration. Apparently the Pension Benefit Guarantee Corporation which gets its guarantee from the government invested $64 billion into stocks just months before the market collapsed. So that entity that failed airlines and other corporations sent their employees retirements to has now taken a big hit since that guaranteed money is not there. It just gets more and more amusing. And all the while, the people at the top continue to try and save the investors, not the nickel and dime investors, we're talking about the multi-million and multi-billion dollar investors. Oh, and if that's not enough to make your skin bubble, Wagoneer formerly the CEO of GM has a $20 million golden parachute that will be paid over 5 years. His retirement package. I guess that money is going to come from us, part of the loan package GM is getting.
I'm telling you. These people need to get real. Get a real job, one where you are responsible for people and if you fail, you go to jail for a long time like us lowly people who work for a living.
Monday, March 30, 2009
Have I become a silent lamb for the Obama Administration? No, I'm just moving and
And that has been consuming lots of my time.
In or on the Huffinginton Post this morning it is reported that Geithner stated on Meet The Press"The investors money is at risk. They can lose all their money." and his explanation goes on as explaining why we must save the investors money as opposed to saving the middle classes investments because it is complicated. Jack Krugman is not taking this lightly. He is butting heads publicly with Geithner. It is a good thing we have Jack Krugman putting up against these out of touch politicians that are or have been Wall Street cronies or even the CEO's of large in the tank financial institutions. This whole thing sucks and we have to save the Warren Buffet's of the world, so that they don't feel the same pain as everyone else. I'm not against Warren Buffet, his name was just at the tip of my tongue and I used him.
In or on the Huffinginton Post this morning it is reported that Geithner stated on Meet The Press"The investors money is at risk. They can lose all their money." and his explanation goes on as explaining why we must save the investors money as opposed to saving the middle classes investments because it is complicated. Jack Krugman is not taking this lightly. He is butting heads publicly with Geithner. It is a good thing we have Jack Krugman putting up against these out of touch politicians that are or have been Wall Street cronies or even the CEO's of large in the tank financial institutions. This whole thing sucks and we have to save the Warren Buffet's of the world, so that they don't feel the same pain as everyone else. I'm not against Warren Buffet, his name was just at the tip of my tongue and I used him.
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