American Greed: Where are the Financial Gurus and Pundits Now?
September 18, 2008
Well it is no news now that Morgan Stanley and Washington Mutual are looking for capital. Yes, they are failing too. Morgan Stanley is now in advance discussions to merge with Wachovia and WAshington MUtual, well, the once fearful giant borrowed 58 billion USD form the federal home loan system and cannot pay it back. The only potential suitors for WAMU are JP Morgan, HSBC, or Wells Fargo according to CNBC news, Guess what? They are the only major financial institutions afloat now.
In light of AIG, Lehman Brothers and Merrill Lynch on Monday, the feds are currently in talks to takeover most of those bad loans, thus, dumping billions into the market to ease the distress the is causing ripples globally. But where is this money going to come from? You guessed it, you the tax payer because America has nothing left; it was all spent on the war in Iraq by the Bush administration.
This evening 9/18/2008,House Speaker Nancy Pelosi was briefed by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, both of whom I think should be fired.
The purpose was to solidify a financial plan to relieve the remaining banks of the bad loans they undertook over the last few years.
So what is to be blamed? American Greed that who. While banks got away with murder by underwriting bad loans in light of soaring stock prices executives and made millions and shareholders saw a bump in their portfolios. But as the old adage goes” What goes up, must come down” and indeed this is coming down hard. Where are the pundits and Gurus now? Only a few weeks ago, I saw many of them on television noting that this will pass and America is not in any way shape or form near a recession. Can they say the very same today? I am not sure because they are no where to be found.
Can America get out of this one? According to Alan Greenspan, we have less than 50% chance. How right was he, we will just wait and see as it all unfolds.
For now, I am certain that the chaos on Wall Street will continue as this financial horror flick continues with out intermission. The fact is the Pundits and Gurus were all wrong and they know it. The people who follow the financial markets know who they are and it would be a shame to listen to them rant about what they are unfamiliar with going forward. America as we know it has changed dramatically over the last few days and the world is watching. China and the UAE especially are keeping a close eye.
Andrew
Ecstatic China Finally Got Its Olympic History Moment After The Extravagant Opening Ceremonies In Beijing On August 8th, 2008.
August 9, 2008
The world should now understand that China is a very big and significant player , not only culturally and commercially, but in every aspect. The Chinese have the right to be very proud of what they have achieved. The 2008 Olympics promotes China in the world’s most pulsating economies, promising markets, and as the host of most spectacular show on Earth. Read more
Does America need a tech savvy President?
August 5, 2008
This is the question my colleagues and I throw around from time to time. I think a good introduction to this argument is to identify the technological issues we face today and in the future.
Global Warming
How does Global Warming warrant a Tech-Savvy President? Well, for one, the solution to this problem has to be massively complex. We cannot expect a rancher like George Bush to fathom the idea of Single-Cell Organisms eating wood chips and turning them into crude oil, wood we, excuse the pun, lol? I would imagine that someone with a science background would focus their agenda on the breaking our foreign dependency on oil, rather than taking control of it.
Technological R+D
Why is it that America is not on the cutting edge of technology? Because, Fewer than 20 percent of American undergraduates are earning degrees in science or engineering, compared with more than 50 percent in China. Let’s be honest, we’re in a competitive battle with the rest of the world; a battle where we need to stay the most powerful nation in the world. And the only way our nation stays ahead forever is with superior technology and innovation.
Saving the Open Internet
I am sure some of you have read about Net Neutrality. For those of you who haven’t, the “in a nutshell” definition of Net Neutrality is: A neutral broadband network is one that is free of restrictions on the kinds of equipment that may be attached, on the modes of communication allowed, which does not restrict content, sites or platforms, and where communication is not unreasonably degraded by other communication streams
Those are few issues that we as Americans face that have complex and scientific solutions. So who do I feel is the most Tech Savvy? Barack Obama. He has a website dedicated exclusively to technology issues, and unlike Clinton, he outlines a his complete technological agenda. Obama also proposes that a CTO position be created at the executive level to oversee technology and information officers at the various federal agencies.
What do you guys think?
Natural disasters in Myanmar, USA and China: Is the Earth trying to tell us something?
May 12, 2008
Cyclones in Myanmar, Killer Tornados across the U.S.A. and now a record Earthquake in China this morning killing nine thousand. begs the question as to the importance of the homeostatic nature of the earth and the current homeostatic deviation from what is considered normal for the earth’s cyclic stability. Read more
Barbadian Prime Minister on getting the Caricom to produce unique Products
April 16, 2008
David Thompson, the Prime Minister of Barbados at a luncheon yesterday with the President of Trinidad and Tobago Manufactures’ Association said, “the Caricom needs to create unique products that make them competitive in a fully open market.” Read more