Some days I have nothing to say - others I am overwhelmed. Today I will start with the brouhaha around the AIG Bonuses - Just SHUT UP!
The US Government invested in AIG, they did not send them to bankruptcy court. As such, AIG has to continue operating essentially as it always did with all its responsibilities and contracts in place. That is why we got the report yesterday showing that billions were paid out to investment banks and regular banks from the government funds, the government wanted them to honor their obligations. The US Government with all of its meddling is destroying any remaining value within AIG and jeopardizing the chance to recoup the money invested.
Shareholders appoint a Board of Directors who hires managers to run a firm, the shareholders do not stand up every day and impose another arbitrary idea on the firm.
To the great Citizens of Massachusetts, something I was formerly, please remove Barney Franks from office. He has now shown his ability to ignore the truth, his ignorance of finance and general disregard for the citizens of Massachusetts and the United States. I truly wish I were in his district to work and vote against him.
This is where I will be commenting on what I see in daily life as well as complaining about whatever it is that irritates me - mostly politics it seems.
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