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Post by dan on Sept 28, 2008 10:12:07 GMT -5
"Government should not "run" these businesses, but it has become obvious that some businesses need to be "regulated" to prevent such crap from happening in the future."
I'm still not in favor (or "favour" from another thread) of giving the government that much more power. Anyone that is receiving proxy statements from a retirement plan has the power to make their feelings known to the board or directors of their funds just how they feel about these golden parachute deals. If the board ignores you, pull your money out and invest it in a fund that meets your needs and desires. Its the people that need to clean their own houses, not hire a nanny to pick up after the messy kids.
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Post by concerned on Sept 28, 2008 10:12:29 GMT -5
I bet the people in Colardo are happy now that the mortages can be remortaged at a lower rate
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Post by dgriffin on Sept 28, 2008 11:18:01 GMT -5
Clipper: I agree, regulation is not socialism and in this case is welcomed. But these days the government just gets bigger and more in control. Too much money involved for the new type of criminal to ignore.
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Post by dgriffin on Sept 28, 2008 11:20:04 GMT -5
I bet the people in Colardo are happy now that the mortages can be remortaged at a lower rate Concerned, that's the other question. Will we be bailing out companies so that they can dig themselves deeper into the mire? |
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Post by Clipper on Sept 28, 2008 11:55:43 GMT -5
John McCain has a real grip on reality when it comes to recognizing the criminal temptations and pitfalls that are ensnaring the greedy among both CEO's and government representatives at all levels.
It is imperative that these "bail outs" are strictly a lifesaving measure, and that no one profits from the saving of the business until the public dollars have been repaid. No golden parachutes, very limited or no stock dividends for shareholders, until the business in question is back on its feet and solvent again.
This has to be a last ditch solution, and not one that allows the greedy CEO's to walk away with a pocket full of money while the stockholders and the American people are left holding the bag.
There has to be a strict definition of "regulation" and it should never include "total control" by a government agency. Taking the money and running, by executives of these industries has to stop. They have to be investigated, and prosecuted for any crimes or wrongdoing that can be proven.
There is something wrong with a picture where a CEO is a mulitmillionaire, and still drawing bonuses when a company is in financial strife, and employees and stockholders are feeling the pinch. There is something wrong when a shoplifter can get prison time for theft of a few hundred dollars and these white collar felons can get away with millions of dollars in theft from their own stockholders and the american public.
To me, they are simply scumbag street thieves with white shirt and a tie.
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Post by dgriffin on Sept 28, 2008 22:51:15 GMT -5
...but will it work? The Deal's Getting Done, But Will It Work?From: Seeking Alpha seekingalpha.com/article/97663-the-deal-s-getting-done-but-will-it-work"All “solutions” to the crisis at this point in time are bad solutions. The time to act was 10-15 years ago, where we could have implemented contra-cyclical policies in bank regulation, as well as enforcing a strict separation between regulated and nonregulated financial intermediaries. (No ownership, no lending, no derivative agreements.) "We are putting a lot of faith in the health of Citigroup, Bank of America, and JP Morgan. If one of them fails, the game is over. Given their complexity, and the recent takeovers, the odds of there being a significant mistake are high. Consider further that they are counterparties for more than 50% of all derivative transactions, so the synthetic leverage is high as well."
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Post by dgriffin on Sept 28, 2008 22:53:49 GMT -5
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