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 | It’s the best of times for Goldman Sachs, and the worst of times for the rest of us. Ironic that this news would break on Bastille Day: Goldman Sachs’ profits for the second quarter smashed Wall Street estimates and are likely to trigger a windfall for bankers. The bank, long considered the most prestigious and profitable on Wall Street, recorded [...] I just got my Fidelity IRA statement and don’t have the guts to open it. So far this morning, the Dow has fallen almost 360, with many wondering if it will lose 1,100 before 2pm triggering a suspension of trading. Something has to be done to quell fears of a national/international recession bordering on depression. Yes, emotion is driving the market, but their [...] $700 Billion down the hole and the Dow plunges 500+ this morning. That Hank Paulson’s a genius. This American Life has a fantastic, ground-level primer on the “credit crunch” (it’s in the commercial paper marker, where $100 million is chump change, not down at the small business level). If you’re in the least confused – or curious – about what’s really been going [...] Is it just me or has anyone else noticed that there is a pattern with Congress passing legislation that the American people do not want and know is not in their interest? First they kick it around a little and then have a vote or two that fails to pass the proposed bill. Then they tweak the bill a little while some of the [...] My unpaid bills are on the way to you. You can find Hank’s address here. that Henry Paulson gave up his position at Goldman Sachs in order to be in the position to take the economic reigns at precisely this moment in history, to be able to bail out the system – at taxpayer expense – that he helped bankrupt? Why would the man known as “The Hammer” give up CEO compensation of $38 million a year (making [...] |      | ||||
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