- 14,808
So, so true. This is all fear based....and the executives of these companies are laughing.
The other shoe to drop in the failure of AIG
- Thread starter SportsNut
- Start date
- 9,744
Actually, it isn't, and that's one of the biggest problems in this whole mess.
The CEOs comp is up to the "Compensation Committee" of the Board of Directors, made up of the CEO's cronies and fellow directors.
Nice objectivity, huh?
- 14,808
Yet the CEO can be voted out. I didn't mean that stockholders design the comp package - I mean they can hold the CEO accountable.
- 2,908
For you guys making your living off of individual health sales, this may be the trainwreck that derails the national health insurance momentum that would have killed much of your business. Might be a silver lining here for some. Admittedly it is a hell of way to get there but the government is quite broke now and quite pre-occupied running other socialist programs for a while and for some time to come. I still believe that guaranteed issue is coming but this current disaster should dampen at least some of the move toward a full socialist program.
Winter
- Staff
- #15
- Thread starter
- #16
Barf....
I just finished watching several interviews of Senate Banking Comm members... You know, those fellows who oversee our nations financial institutions... When asked if they failed the system in any way...?
They each said: it is up to the regulatory agency to bring problems to out attention, and no one told us there was a problem... (paraphrased).... Duh, my fricking dog knows that their was a mtg crisis... This is the problem, it is pass the buck mentality right on down the line; no one is accountable any more...
Alan Greenspan on Feb 24, 2004
Federal Reserve Board Chairman Alan Greenspan warned Congress yesterday that the rapid growth of mortgage giants Fannie Mae and Freddie Mac poses a threat to the stability of U.S. financial markets and urged lawmakers to address the issue while the companies are healthy, rather than wait for a crisis.
washingtonpost.com: Greenspan Warns Panel On Fannie, Freddie
John McCain on May 26, 2006
"I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole."
GovTrack: Senate Record: FEDERAL HOUSING ENTERPRISE REGULATORY REFORM... (109-s20060525-16)
But no one ever told them there was a problem... Barf again.
Well maybe the FBI now intervening with criminal probe into Fannie, Freddie, Lehman and AIG will have some impact on the matter. This will be interesting... I personally know of ppl is federal prison today, convicted of mtg fraud, (and the other two, wire fraud and tax evasion), serving anywhere from 3 to 7 yr sentences... and I would lay a large wager that those serving time did little in comparison to the crimes committed by those within the afore mentioned institutions... and this in no way attempts to minimize the acts of those currently serving time. Hopefully the Feds will take a huge bite out of the azz of all those responsible for this charade.
Barf again....
I just finished watching several interviews of Senate Banking Comm members... You know, those fellows who oversee our nations financial institutions... When asked if they failed the system in any way...?
They each said: it is up to the regulatory agency to bring problems to out attention, and no one told us there was a problem... (paraphrased).... Duh, my fricking dog knows that their was a mtg crisis... This is the problem, it is pass the buck mentality right on down the line; no one is accountable any more...
Alan Greenspan on Feb 24, 2004
Federal Reserve Board Chairman Alan Greenspan warned Congress yesterday that the rapid growth of mortgage giants Fannie Mae and Freddie Mac poses a threat to the stability of U.S. financial markets and urged lawmakers to address the issue while the companies are healthy, rather than wait for a crisis.
washingtonpost.com: Greenspan Warns Panel On Fannie, Freddie
John McCain on May 26, 2006
"I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole."
GovTrack: Senate Record: FEDERAL HOUSING ENTERPRISE REGULATORY REFORM... (109-s20060525-16)
But no one ever told them there was a problem... Barf again.
Well maybe the FBI now intervening with criminal probe into Fannie, Freddie, Lehman and AIG will have some impact on the matter. This will be interesting... I personally know of ppl is federal prison today, convicted of mtg fraud, (and the other two, wire fraud and tax evasion), serving anywhere from 3 to 7 yr sentences... and I would lay a large wager that those serving time did little in comparison to the crimes committed by those within the afore mentioned institutions... and this in no way attempts to minimize the acts of those currently serving time. Hopefully the Feds will take a huge bite out of the azz of all those responsible for this charade.
Barf again....
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