FDR, First Inaugural Address:
I am certain that my fellow Americans expect that on my induction into the Presidency I will address them with a candor and a decision which the present situation of our people impel. This is preeminently the time to speak the truth, the whole truth, frankly and boldly. Nor need we shrink [...]
Some skeptics are calling Henry Paulson’s $700 billion rescue plan for the U.S. financial system “cash for trash.” Others are calling the proposed legislation the Authorization for Use of Financial Force, after the Authorization for Use of Military Force, the infamous bill that gave the Bush administration the green light to invade Iraq.
There’s justice in [...]
Surprise, surprise, surprise. Guess who the Paulson plan benefits?
Bank of America’s top credit strategy analyst says Paulson Debt Plan May Benefit Mostly Goldman, Morgan.
Goldman Sachs Group Inc. and Morgan Stanley may be among the biggest beneficiaries of the $700 billion U.S. plan to buy assets from financial companies while many banks see limited aid, according [...]
$39 billion: The Wall Street Bonuses for the Big Five Investment Banks Last Year.
“In 2007, Wall Street’s five biggest firms — Bear Stearns, Goldman Sachs, Lehman Brothers, Merrill Lynch, and Morgan Stanley — paid a record $39 billion in bonuses to themselves.
That’s $10 billion more than the $29 billion loan taxpayers are making to J.P. [...]
Gawker has a great article talking about how media giants have led small investors into doom and gloom territory.
n December, Fortune magazine admitted it had been remiss naming insurance giant AIG one of its “10 Stocks To Buy Now” before a yearlong 18 percent decline. “We… didn’t expect [the] mortgage unit to be such an [...]
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