"The End", An Absolute Must Read

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Saturday November 15, 2008 · 3:27 PM PST

2008/11/15 · 15:27

A fantastic account of how screwed up the financial management system is. An absolute must read:

http://www.portfolio.com/...

...the main effect of turning a partnership into a corporation was to transfer the financial risk to the shareholders. "When things go wrong, it’s their problem," he said—and obviously not theirs alone. When a Wall Street investment bank screwed up badly enough, its risks became the problem of the U.S. government. "It’s laissez-faire until you get in deep shit," he said, with a half chuckle. He was out of the game...

"He" is John Gutfreund, the infamous former C.E.O. of Salomon Brothers, who started it all in the 80s

Seeking Attention: McCain's Treasury Choice

Krassen

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Tuesday October 07, 2008 · 11:07 PM PDT

2008/10/07 · 23:07

Last night John McCain proposed Meg Whitman as his TreasurySecretary.

McCain said, "I like Meg Whitman" for that post, referring to the former CEO of online auction company eBay.

I predicted this very development on September 21st:

http://www.dailykos.com/...

This is a bad choice for McCain and bad choice for America. In my diary I described how Whitman (The Chairperson of Women for Romney) made a bad deal that benefited her fellow Vice Chair of Women for Romney

Please, pass the link to my Sep. 21st diary along. The economy is the number one issue and the next Treasury Secretary will play a very important role in its stabilization. Voters need to know that McCain is proposing a person who has been cavalier with her fiduciary duties to E-Bay shareholders, to the benefit of a fellow political activist.

Is that a person America can trust with its money?

Krassen

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Sunday September 21, 2008 · 12:27 AM PDT

2008/09/21 · 00:27

Is Meg Whitman McCain's economic savior?

or how qualified is this former CEO - who stuck her shareholders with a $3 billion "lemon", while benefiting a political ally - to give advice on the current financial/economic mess?
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Current events on Wall Street are making it obvious to more and more people how the corporate and financial elites wrecked America. The systemic defect is becoming apparent, summarized by some descriptive expressions:

Privatization of profits, socialization of losses.

Heads I win, tails someone else loses.

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"The End", An Absolute Must Read

Seeking Attention: McCain's Treasury Choice

Meg and The Mess