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| Portland OR – April 11, 2009 – Click for more info NATIONALIZE: Experts agree on the means — Insolvent banks that are too big to fail must incur a temporary FDIC intervention – no more blank check taxpayer handouts. (see Krugman on nationalization) REORGANIZE: Current CEOs and board members must be removed and bonuses wiped out. The financial elite must share in the cost of what they [...] Cenk Uygur over at Huffpo sent me this story link this morning. If you want to understand what is really going on re: the banking/wall street fiasco, read this article. Here is an excerpt: The latest bailout came as AIG admitted to having just posted the largest quarterly loss in American corporate history — some $61.7 billion. In the final three months of last year, the [...] Image via Wikipedia Cenk Uygur has a post over at Huffpo that nails down the real issue with CNBC that Jon Stewart so skillfully mocks in the video contained in the post immediately below this one: I have a close friend who works at a business news station — and here is the worst kept secret in show business — it’s all about the access. If [...] So says our Representative Brian Baird and I quote him from a link to a story in my earlier article: Baird said the legislation also will prevent executives who presided over the financial crisis from reaping huge salaries and bonuses. “Any company that chooses to participate in the program will not be able to offer their departing executives exorbitant severance packages,” he said. “In companies where the [...] 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 are big, bad [...] Is it any wonder after all the trauma that AIG has been suffering that their executives need to get away from it all? Less than a week after the federal government committed $85 billion to bail out AIG, executives of the giant AIG insurance company headed for a week-long retreat at a luxury resort and spa, the St. Regis Resort in Monarch Beach, California, Congressional investigators [...] Brian Baird chimes in on his misguided, doing nothing for “the people”, vote for the bailout: “In companies where the government is making a direct purchase, it will also place strict limits on executive salaries and will end the tax deduction for executive salaries over $500,000. For the first time in a long while, adult supervision is returning to Wall Street.” Baird also praised the provision that [...] | Available Streams 2    | ||||
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