OT: is long form jounalism getting it right on AIG, Bank of America, and Merril Lynch?

[patientrenter]

[quote=michael]…As a tax payer, I’m more angry that Fannie, Freddie, and Ginnie are being propped up by the Fed and Treasury….
Does anyone else see the bias here?[/quote]

Yes.

[davelj]

[quote=patientrenter]If the only way that you could trust company management of a publicly traded company not to rip you off was sheer trust, then the entire public company route for allocating capital efficiently across the economy would be terribly, and unnecessarily inefficient. [/quote]

I think it’s fairly inefficient. Not horrific, but not particularly efficient. And I think the last 15 years have proven that fact.

[quote=patientrenter]But that doesn’t take Ken Lewis or his board of the hook for very bad choices, and for putting themselves ahead of their shareholders improperly. [/quote]

Agree 100%. Ken Lewis should have been fired and the entire board replaced. Of course that applies to many of the largest financial institutions.

[davelj]

[quote=patientrenter]If the only way that you could trust company management of a publicly traded company not to rip you off was sheer trust, then the entire public company route for allocating capital efficiently across the economy would be terribly, and unnecessarily inefficient. [/quote]

I think it’s fairly inefficient. Not horrific, but not particularly efficient. And I think the last 15 years have proven that fact.

[quote=patientrenter]But that doesn’t take Ken Lewis or his board of the hook for very bad choices, and for putting themselves ahead of their shareholders improperly. [/quote]

Agree 100%. Ken Lewis should have been fired and the entire board replaced. Of course that applies to many of the largest financial institutions.

[davelj]

[quote=patientrenter]If the only way that you could trust company management of a publicly traded company not to rip you off was sheer trust, then the entire public company route for allocating capital efficiently across the economy would be terribly, and unnecessarily inefficient. [/quote]

I think it’s fairly inefficient. Not horrific, but not particularly efficient. And I think the last 15 years have proven that fact.

[quote=patientrenter]But that doesn’t take Ken Lewis or his board of the hook for very bad choices, and for putting themselves ahead of their shareholders improperly. [/quote]

Agree 100%. Ken Lewis should have been fired and the entire board replaced. Of course that applies to many of the largest financial institutions.

[davelj]

[quote=patientrenter]If the only way that you could trust company management of a publicly traded company not to rip you off was sheer trust, then the entire public company route for allocating capital efficiently across the economy would be terribly, and unnecessarily inefficient. [/quote]

I think it’s fairly inefficient. Not horrific, but not particularly efficient. And I think the last 15 years have proven that fact.

[quote=patientrenter]But that doesn’t take Ken Lewis or his board of the hook for very bad choices, and for putting themselves ahead of their shareholders improperly. [/quote]

Agree 100%. Ken Lewis should have been fired and the entire board replaced. Of course that applies to many of the largest financial institutions.

[davelj]

[quote=patientrenter]If the only way that you could trust company management of a publicly traded company not to rip you off was sheer trust, then the entire public company route for allocating capital efficiently across the economy would be terribly, and unnecessarily inefficient. [/quote]

I think it’s fairly inefficient. Not horrific, but not particularly efficient. And I think the last 15 years have proven that fact.

[quote=patientrenter]But that doesn’t take Ken Lewis or his board of the hook for very bad choices, and for putting themselves ahead of their shareholders improperly. [/quote]

Agree 100%. Ken Lewis should have been fired and the entire board replaced. Of course that applies to many of the largest financial institutions.

[Zeitgeist]

Not trying to kill the thread, but probably will by using the Hitler analogy. He demonized the Jewish bankers and the Dems. demonize wallstreet, yet voted for the bail outs! Huh? The government is the problem. Wake up and smell the corruption of both parties. Bush started it and no one is stopping it. Where is the change? Where is the transperancy?

[Zeitgeist]

Not trying to kill the thread, but probably will by using the Hitler analogy. He demonized the Jewish bankers and the Dems. demonize wallstreet, yet voted for the bail outs! Huh? The government is the problem. Wake up and smell the corruption of both parties. Bush started it and no one is stopping it. Where is the change? Where is the transperancy?

[Zeitgeist]

Not trying to kill the thread, but probably will by using the Hitler analogy. He demonized the Jewish bankers and the Dems. demonize wallstreet, yet voted for the bail outs! Huh? The government is the problem. Wake up and smell the corruption of both parties. Bush started it and no one is stopping it. Where is the change? Where is the transperancy?

[Zeitgeist]

Not trying to kill the thread, but probably will by using the Hitler analogy. He demonized the Jewish bankers and the Dems. demonize wallstreet, yet voted for the bail outs! Huh? The government is the problem. Wake up and smell the corruption of both parties. Bush started it and no one is stopping it. Where is the change? Where is the transperancy?

[Zeitgeist]

Not trying to kill the thread, but probably will by using the Hitler analogy. He demonized the Jewish bankers and the Dems. demonize wallstreet, yet voted for the bail outs! Huh? The government is the problem. Wake up and smell the corruption of both parties. Bush started it and no one is stopping it. Where is the change? Where is the transperancy?

[gandalf]

Populist bias? Now the journalists are the problem? First of all, Fannie/Freddie aren’t Main Street. They’re as insider as you can get.

Second, this is not a standard business cycle. Enormous amounts of fraud took place in the financial industry. More money was lost through leverage games on ‘Wall Street’ than the entire sum total of all of the real property in America. It wasn’t ‘Joe the Plumber’ flipping condos.

And while most of this ‘lost wealth’ was fictitious to begin with, we’re socializing the losses (WELFARE for BANKSTERS) just to preserve the stability of our country. The Greatest Bank Robbery of All-Time.

High-level principals and insiders in the FIRE sector are primarily responsible for this disaster. The dislocations we’re experiencing in our economy right now, orders of magnitude worse than a business cycle downturn, are the result. ‘Main Street’ didn’t put capitalism at-risk.

ANY news, journalism, blogs, etc. that sheds light on this sordid mess, exposes the fraud, restores transparency — that’s a good thing. The bias is incidental and appropriate, because there’s a concerted effort to cover things up.

[gandalf]

Populist bias? Now the journalists are the problem? First of all, Fannie/Freddie aren’t Main Street. They’re as insider as you can get.

Second, this is not a standard business cycle. Enormous amounts of fraud took place in the financial industry. More money was lost through leverage games on ‘Wall Street’ than the entire sum total of all of the real property in America. It wasn’t ‘Joe the Plumber’ flipping condos.

And while most of this ‘lost wealth’ was fictitious to begin with, we’re socializing the losses (WELFARE for BANKSTERS) just to preserve the stability of our country. The Greatest Bank Robbery of All-Time.

High-level principals and insiders in the FIRE sector are primarily responsible for this disaster. The dislocations we’re experiencing in our economy right now, orders of magnitude worse than a business cycle downturn, are the result. ‘Main Street’ didn’t put capitalism at-risk.

ANY news, journalism, blogs, etc. that sheds light on this sordid mess, exposes the fraud, restores transparency — that’s a good thing. The bias is incidental and appropriate, because there’s a concerted effort to cover things up.

[gandalf]

Populist bias? Now the journalists are the problem? First of all, Fannie/Freddie aren’t Main Street. They’re as insider as you can get.

Second, this is not a standard business cycle. Enormous amounts of fraud took place in the financial industry. More money was lost through leverage games on ‘Wall Street’ than the entire sum total of all of the real property in America. It wasn’t ‘Joe the Plumber’ flipping condos.

And while most of this ‘lost wealth’ was fictitious to begin with, we’re socializing the losses (WELFARE for BANKSTERS) just to preserve the stability of our country. The Greatest Bank Robbery of All-Time.

High-level principals and insiders in the FIRE sector are primarily responsible for this disaster. The dislocations we’re experiencing in our economy right now, orders of magnitude worse than a business cycle downturn, are the result. ‘Main Street’ didn’t put capitalism at-risk.

ANY news, journalism, blogs, etc. that sheds light on this sordid mess, exposes the fraud, restores transparency — that’s a good thing. The bias is incidental and appropriate, because there’s a concerted effort to cover things up.

[gandalf]

Populist bias? Now the journalists are the problem? First of all, Fannie/Freddie aren’t Main Street. They’re as insider as you can get.

Second, this is not a standard business cycle. Enormous amounts of fraud took place in the financial industry. More money was lost through leverage games on ‘Wall Street’ than the entire sum total of all of the real property in America. It wasn’t ‘Joe the Plumber’ flipping condos.

And while most of this ‘lost wealth’ was fictitious to begin with, we’re socializing the losses (WELFARE for BANKSTERS) just to preserve the stability of our country. The Greatest Bank Robbery of All-Time.

High-level principals and insiders in the FIRE sector are primarily responsible for this disaster. The dislocations we’re experiencing in our economy right now, orders of magnitude worse than a business cycle downturn, are the result. ‘Main Street’ didn’t put capitalism at-risk.

ANY news, journalism, blogs, etc. that sheds light on this sordid mess, exposes the fraud, restores transparency — that’s a good thing. The bias is incidental and appropriate, because there’s a concerted effort to cover things up.

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