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Paulson Raked in $27 Million a Year While Heading Goldman, Says Expert Graef Crystal, Who Opposes the $700 Billion Bailout and Also Opposes Compensation Controls
The bankers apparently terminated GM's credit line in order to make the public believe the economy will collapse if the bail out is not approved. I expect to see more targeted credit line terminations of high visibility corporations as part of a ploy to convince the public to support the bail out.— September 24, 2008 11:40 p.m.
Paulson Raked in $27 Million a Year While Heading Goldman, Says Expert Graef Crystal, Who Opposes the $700 Billion Bailout and Also Opposes Compensation Controls
Shortly after Paulson was appointed Treasury Secretary, he sold $500 million worth of Goldman Sachs stock tax-free. A special provision in the tax code permits political appointees like Paulson to sell stock tax-free in order to avoid potential conflicts of interest. I assume he received most of the shares through options, so the stock probably didn't cost him much. He may have realized as much as $75 million in tax savings through this tax scam. Paulson still owns $50 million in Goldman Sachs stock through a blind trust. Blind trust or not, he clearly has a personal financial stake in the bail out.— September 24, 2008 11:34 p.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
Congress is merely rubber stamping Fuhrer Paulson's actions. He has assumed total control of the country with the backing of the large corporations.— September 20, 2008 9:16 a.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
Within a matter of months major insurance companies like Aetna and Prudential are going to face bankruptcy when they become unable to pay the retirement annuities they have sold to millions of Americans. Due to political pressure from millions of elderly retirees facing the prospect of total destitution, the government will be forced to assume the obligation of paying these annuities. Medical insurers like Blue Cross and Kaiser will likely at some point ask the government for money as their resources become strained and they are unable to pay claims.— September 19, 2008 11:23 p.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
The foreign newspapers are reporting that Paulson's bailout scheme is a pipe dream. There's not enough foreign money available to fund the bailout even if the Chinese, Koreans, and Arabs were willing to lend it. The entire financial structure is going to collapse and Bernanke is powerless to stop it. After the election car loans and credit card debt will be impossible to obtain, and businesses will begin to shut down as they exhaust their assets. San Diego will be devastated because there are almost 600 public corporations in San Diego with high paying technical jobs, and most of them have never earned a profit and depend on the capital market and IPO money to stay in business. This money will become unobtainable at any price.— September 19, 2008 11:08 p.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
This amounts to a wholesale takeover of the federal government by large corporations who stand to gain from a bailout. The bailout plan should be put to a vote in Congress. The politicians should be forced to take a public position on the bailout and face the wrath of voters. Voters should also be told that the bailout will be funded with the temporary social secutity surplus, and will ultimately result in reduction of benefits. With the backing of the large corporations, Ben Bernanke has assumed almost dictatorial control of our country and is spending trillions in taxpayer money without transparency or congressional approval.— September 19, 2008 9:08 a.m.
Stocks Plunge; Insurance Giant AIG May Be Next Casualty. Era of Excessive Debt Probably Coming to Inglorious End
It looks like Charles Brandes increased his holdings in AIG in recent months. As of 6/30/2008 his funds owned 17,235,965 shares at an average cost basis of $39.60. AIG closed today at $4.76. Say it ain't so, Charlie. Tell us you sold AIG in July and you didn't let your investors ride AIG into the ground. http://www.gurufocus.com/StockBuy.php?action=buy&…— September 15, 2008 9:59 p.m.
Port of San Diego makes wild proposal for Tenth Avenue terminal
Disney may also enter the fray and is considering using the site for a western-style theme park that pays homage to actor John Wayne.— September 4, 2008 9:24 p.m.
Port of San Diego makes wild proposal for Tenth Avenue terminal
A rumor is circulating that NASA may purchase the property and build a second shuttle launch pad to replace the one at Cape Kennedy.— September 4, 2008 9:18 p.m.
Local Newsweek Correspondent Pleads to Chargers: "Don't Bolt!"
The Fire Department also responds to staggering numbers of cigarette fires in apartment buildings at tremendous cost to the City. The City Council should outlaw cigarette smoking in apartment buildings because of the fire risk, and force apartment owners to install fire sprinklers. We should be trying to decrease the Fire Department's call volume instead of raising taxes to expand the department. Much of the Fire Department's workload could be eliminated by beefing up the fire code.— September 4, 2008 8:45 p.m.