By: hdmausguy
2 days ago (Friday, 7:49 pm) Yahoo! Profile:
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| 80 million eligible sheeple did'nt vote in the last (Obama) elections. Once a reasonable number of these clowns turn off the T V & pull themselves up off the couch & join the outrage herd,only then will things come to a head. Obama and Congress will,as you say menta,be forced into emergency rescue mode being too little too late & lots of economic pain never before encountered by generations of Americans & then the World. |
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By: mentawaisurf
2 days ago (Friday, 5:16 pm) Yahoo! Profile:
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| Thanks Ralph, but the point of my final sentence was to stress that voters will not surrender and pony up to rescue banks when they crash again. Not without a fight this time. Obama and Congress will try to push it through again for the 'good of the nation' but it won't wash with people this time. Voters will protest - strongly and en masse. Eventually government will be forced into an emergency rescue to try and stop the collapse from spreading, but the delays due to voter outrage will render it all too little, too late. |
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By: ralph.montegue
2 days ago (Friday, 4:46 pm) Yahoo! Profile:
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A+ mentawaisurf.
Nevertheless. Lasty does have a point.
Our PM has a huge ego and the major powers have been busy feeding it.. Red Carpet Treatment at the recent meetings in the US.. Tell me you did not see through all that back slapping and congratulating..
The PM has been effectively manipulated and a close on the sale is about to be realised.
Sadly, we will end up with a "CLUNKER" or two & they'll get the dollars.
But what's new. Shouldn't we be used to that by now?
History does repeat itself. |
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By: lasty49
2 days ago (Friday, 11:34 am) Yahoo! Profile:
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"Only this time voters won't allow government to use their money to bailout the crooks."
Really say who..?
Can you see a paradigm shift happening Menta.
The world wants to be one.. A socialism stance.. Just read the Copenhagen treaty and see what the UN wants us to donate through its smoke and mirrors climate change alias Carbon credit scam.
Wait for it... $7 billion per annum.
Rudd has his pen at the ready jumping up and down like a kid in a lollyshop.. He wants to be the UN governor..Forget about what the voters want. |
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By: mentawaisurf
2 days ago (Friday, 11:27 am) Yahoo! Profile:
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Anyone who saw Addicted to Money last night on ABC are more aware of just how our addiction to credit and plastic has led to a massive debt bubble that has yet to be unwound.
Yet the financial crime that led to the GFC, which was both predictable and preventable, was fueled by the dealers (bankers) who pushed their drug (credit) onto their victims (customers).
Banks made huge profits from pushing credit and selling dodgy products to the unsuspecting. They helped create the 'buy now pay later' culture of unsustainable consumerism coupled with unfettered free-market speculation. Only it wasn't free.
Banks financial alchemy created a whole new range of debt products (designer drugs) to push - securitization and structured products under the giant umbrella of derivatives. These bogus assets were cut and diced and sold around the world falsely advertised as safe investments by the banks snake oil salesmen. Credit ratings agencies were in on the scam as they were paid by the very banks that created these toxic products to rate them AAA so they could be flogged to unsuspecting investors for huge fees. The banks only objective was profit without any regard for their victims (just like drug dealers). Then they leveraged up to gamble on world-wide markets with OPM (other people's money). They turned the global economy into one giant casino. Morals and ethics went out the window along with their conscience. Regulators were complicit and still remain in the pocket of the big international banks. They helped build an entire global economy on an economic lie.
However, with the change in social mood, people are no longer willing or able to take on more debt. The music has stopped. Regardless of how much money/credit is created it will have no effect - just like pushing on a piece of string. So now the lie is being exposed so that the whole credit economy house-of-cards will implode. Only this time voters won't allow government to use their money to bailout the crooks. |
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By: rodneysaviour2
2 days ago (Friday, 11:15 am) Yahoo! Profile:
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Hello Qitulong! Yes! This country was built by the working man, for the working man and its financial as well as geographical security is still maintained by the working man. You and I know this only too well and are both proud to have been "working men" prior to retirement.
It saddens me to see the GREED of so few result in the hardship and sorrow of so many.
As always, the GREEDY have acted in such a shameful manner and the working man has had to suffer fo it! |
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By: qitulong
3 days ago (Thursday, 4:20 pm) Yahoo! Profile:
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| You right again Mr. steve_b_wilson sir. It is working man who suffer all tiem when rich people they making big mistakes with somen investment or other. Why is always common nman has to suffer for ruich man mistaken actions? It is not right that people who get so rich from all this mess can still be in job while so many man on the street left with big financial troubles after losing jobs. |
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By: stevebwilson1
4 days ago (Wednesday, 4:34 pm) Yahoo! Profile:
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Those who's GREED lead us into this situation remain for the most part in employment & wealthy.
Where is the justice?
While so many of our friends and fellow countrymen continue to suffer as a result of the GREED of the few, these heartless financial parasites get off the hook scot free. |
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By: jaymarcel
5 days ago (Tuesday, 10:43 am) Yahoo! Profile:
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| Thanks for the incite mate, good luck. |
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By: hdmausguy
5 days ago (Tuesday, 10:11 am) Yahoo! Profile:
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| jay - This is the dilemma that many investors face quite often. A company might start off with good managers(directors)but over time certain directors resign(other interests etc.)and new ones take their place. The ASX always has announcements for change of directors & change of interests(buy/sell shares etc.)The problem then is that you have your shares that may have dropped in value because the market did'nt like the directors giving themselves big $$$ payments. Often the shares may be worth less than what you paid for them. So then you have to make a choice. Either sell out at a loss or hang in and back your original judgement that the fundamentals of the company are still sound and that the market sentiment will improve and thus return your shares to the black. I have a problem with directors decisions at the moment. A couple of months ago I bought some gold shares for 9.2c each. After 2 weeks they went up to 9.8c. All good. Then at the end of the third week they put a stop on their trading pending an ASX Co. announcement.There was no pre consultation with shareholders about it. When they returned to trading they announced a funds issue to complete the gold processing plant. Nothing wrong with that. However the way they made the funding was poor. Instead of offering less shares at a higher rate,to preserve the value of existing shares,they've offered 2.2 billion shares at 4c each . This will increase the number of shares from 600 million to 2.8 billion an increase of around 360%. The market reacted, dropping the price from 9.8c to the low 4c range.Remember the new shares are'nt trading yet. I'm not buying any new shares I'll just have to sit and hold and hope my current 55% value drop comes good once gold starts to flow? |
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By: jaymarcel
5 days ago (Tuesday, 7:24 am) Yahoo! Profile:
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hdmausguy I understand the problem but don't understand why shareholders keep feeding them.
It's similar to a mortgage holder whinging about their bank, the answer is to take your money elsewhere, if the directors have 55% share what do you think would happen if the other 45% was not bought buy disappointed shareholders. |
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By: ang101000
5 days ago (Tuesday, 12:18 am) Yahoo! Profile:
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Menta,
Why are financial industry paychecks so big?
The answer is simple, and it is the one Willie Sutton is supposed to have offered when asked why he robbed banks: "Because that's where the money is."
To Rein In Pay, Rein In Wall St.
http://finance.yahoo.com/career-work/article/10805 3/to-rein-in-pay-rein-in-wall-st?mod=career-salary _negotiation |
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By: hdmausguy
6 days ago (Monday, 3:43 pm) Yahoo! Profile:
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| jay - another thing to consider about companies is the power that the majority share holders have with their votes. For example say the directors of a company have 55% of the shares in that company then they have the majority vote. All too often we have seen annual general meetings to discuss company business.The hottest one is usually the directors remuneration. Even though smaller parcel(minority vote) shareholders(generally more numerous) have valid & logical reasons to limit payouts it is usually overruled by the majority vote and thus fat payouts are given at the top for the big boys(including themselves) in the company. For you to blame the minority shareholders is a naive point of view. |
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By: jaymarcel
6 days ago (Monday, 1:52 pm) Yahoo! Profile:
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| I will do thanks mate sounds interesting, I do agree with you which is another reason I don't buy shares. |
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By: mentawaisurf
6 days ago (Monday, 1:34 pm) Yahoo! Profile:
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| Jay, it was the shareholders who got bailed out too! And they will continue to support anything that supports company profits and their share price; regardless of moral, ethical or even legal issues. That's the nature of 'The Corporation' (which was a ground-breaking and insightful documentary. If you haven't seen it then check it out). |
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By: jaymarcel
6 days ago (Monday, 1:20 pm) Yahoo! Profile:
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| If you are a shareholder you are supporting these bonuses by keeping your money in there |
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By: mentawaisurf
6 days ago (Monday, 1:04 pm) Yahoo! Profile:
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That should of course read;
...Another $200m of retention 'awards' are due to be paid in March 2010.... |
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By: mentawaisurf
6 days ago (Monday, 12:56 pm) Yahoo! Profile:
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Goldman Sachs, one of the giant US financial institutes at the heart of the GFC, is already back to making profits of $35m a day (on the back of leveraged market speculation by borrowing from the Fed at practically 0%). Their staff bonuses have reached $17b for the year to date (an average of over $500,000 per employee).
Have they forgotten the massive injection of taxpayer funds that made their recovery possible?
Ex-GS chairman, Hank Paulson who was US Treasury Secretary at the time of the GFC, jumped in to resuce GS while he allowed their competitor Lehman Brother's to fall. Another former GS chairman, Stephen Friedman who was head of the NY Fed while still on the GS board, negotiated the 'secret deal' that paid GS $14b for credit-default swaps from a bankrupt AIG. Conflict of interest? What the faark!
Meanwhile, retention bonuses for AIG staff paid from tax payer bailout money is some $170m which AIG insists is needed to retain key staff. But their own report shows these bonuses were paid to staff in even the most junior roles (eg. a cash retention bonus of $7,700 was paid to a kitchen assistant). Senior execs were paid up to $4m in bonuses. Another $200 of retention 'awards' are due to be paid in March 2010.
Is it not absurd and unfair that the very people whose greed destroyed the economy, and who were bailed out by the taxpayer, should now be paying themselves larger bonuses than before the GFC?
One thing is for certain, when they cry for another taxpayer bailout you can be sure voters will not surrender again for the so-called 'good of the nation'. |
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By: peter.adish
17/10/2009
6:59 pm Yahoo! Profile:
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"Here we go again".. Yes indeed. And fearful it is!
Thanks for brining that article to my attention mentawaisurf.
Quite disgusting to think that many of the same people who got us all into this blooming mess are now eitehr receiving or shall soon receive "incentive / performance" based payments. |
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By: mentawaisurf
17/10/2009
3:10 pm Yahoo! Profile:
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True enough Ang. Here we go again.
Wall St. Is Winning: Elizabeth Warren "Speechless" About Record Bonuses
http://finance.yahoo.com/tech-ticker/article/35573 9/Wall-St.-Is-Winning-Elizabeth-Warren-%22Speechle ss%22-About-Record-Bonuses?tickers=XLF,FAS,FAZ,JPM ,GS,BAC,C |
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By: ang101000
17/10/2009
1:55 pm Yahoo! Profile:
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Menta,
I feel that my one liners don't express the seriousness of the USA economic problem. So when you have the time (away from surfing) and you start to believe that you are wrong and everybody else is right (ie. the current system does work and it is sustainable in long term) have a look at this movie:
IOUSA, One nation. Under stress. In debt.
http://www.iousathemovie.com/ |
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By: ang101000
17/10/2009
12:32 pm Yahoo! Profile:
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Menta,
'Such a rapid return to highly leveraged market speculation, which is precisely what attributed to the initial GFC, is what will lead to the next even more damaging GFC.'
As long as we (society) measure growth the way we (ie market economics)do, don't expect change in the system.
'Yet Wall Street celebrates as Main Street suffers. Such disconnect is simply unsustainable.'
My point really. |
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By: mentawaisurf
17/10/2009
9:08 am Yahoo! Profile:
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What has Wall Street learnt from the GFC? Not much apparently. Goldman Sachs just reported a $3.19 billion net profit which no doubt was celebrated by all at GS because it means a return to the fat bonuses that they've grown accustomed to over the last decade or more of incentive fuelled risk taking. But the result was due to strong trading profits on the back of borrowing from the Fed at near 0% and leveraging into a major bear-market rally. Little revenue was actually made from sustainable investment banking services. Such a rapid return to highly leveraged market speculation, which is precisely what attributed to the initial GFC, is what will lead to the next even more damaging GFC.
Meanwhile, despite unprecedented bailouts, government guarantees and stimulus and central bank monetary expansion, banks bad and doubtful debts continue to rise, foreclosures are still at record levels while CRE loan write-downs and pending defaults are yet to be addressed. Yet Wall Street celebrates as Main Street suffers. Such disconnect is simply unsustainable. Wall Street will plunge into Fall Street - yet again. Only this time they won't get such a rapid taxpayer rescue. |
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By: jaymarcel
12/10/2009
1:12 pm Yahoo! Profile:
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| Menta, the share holders are to blame for these fat cat pay rises, yet they are the ones that lost the most. |
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By: guy.longshank1
12/10/2009
12:29 pm Yahoo! Profile:
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ECONOMIC DISASTER LOOMS!!!
We are not going to be able to avoid this worldwide economic disaster for much longer.. Just look around. All of the major economies of the world are depressed and showing little if any sign of real recovery from the disaterous economic downturn of last year.
The P.R. of China for example continues to poor billions of Yuan into its own economy in order to support it and give the impression that there is indeed less of an economic downturn than we all know there to be.
Lies! Lies & more lies...
Here at home we see the clear signs of trouble on the horizon.. UNABLE to support itself, the government announces yet another stimulus effort to prop up the failed economy which trade in itself is as yet unable to sustain...
"The Federal Government has announced it will invest up to an extra $8 billion in residential new mortgage-backed securities to support competition in the home-lending market. "
Described below by the TROLL as good news, this is indeed nothing less than a blatant attempt by government to convince people to invest at a time when infact it is extremely dangerous to do so.
As steve_b_wilson clearly wrote on his BLOG on these same Yahoo Finance pages, (AUSTRALIA - ECONOMIC DISASTER LOOMS) the irresponsible actions of government resulting in the continued waste of tax payers money, (OUR money) is in itself alarming.
AUTRALIA - ECONOMIC DISASTER LOOMS!
Join with steve_b_wilson and I and many others to do what can be done to alert the populace to the perils of believing in RECOVERY when in fact, the recovery we all dream of and wish for is nothing more than that at present..
A DREAM..
As steve_b_wilson quite rightly encourages - ACT to secure your financial future and protect yourselves from the inevitable economic disaster which shall occur in 2010 lest the major world economies recover significantly. |
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