My Comment: I agree with Ms. Cabrera on balance, but what happens to those hostages that get taken and the insurers don’t pay? Are we willing to accept some possible executions until the pirates get the message that we aren’t paying anymore. I’m also not convinced that a strong (united) military campaign wouldn’t send the message to pirates. Okay, sure the insurers would continue to make some coin, but the premiums should drop if the threat dissipates.
A Sure-Fire Cure for Pirate Hijackings
My Comment: Did the taxpayer really take on more than a $1 trillion of additional debt so the same entities that started this mess can speculate about the crappy assets on their peer’s balance sheets? I suspect when this becomes more known to the public, Congress will get involved so their head’s don’t role next time the voters are in the booth. This is another example of “privatized gains, socialized losses.”
Question: why are the banks getting better treatment than the auto makers from President Obama and Congress? Does it have anything to do with the fact that many high level government officials once worked at Goldman, Lehman etc…Which industry contributes more to political campaigns autos or banks? Bank and financial services by a mile!
My Comment: So now we as investors have to take a company’s “good judgment” opinion on the value of their assets? Is this the same good judgment that got us into this problem? How is this not “smoke and mirrors accounting?
The profit and loss of a company will be impacted by prices of assets that aren’t accurate, because firms get to choose the value. We see quarter after quarter firms manipulating their quarter earnings to meet or beat the analyst’s expectations. How is changing the marked to market rules different? The bottom line is this will make earnings and financial statement less transparent.
My Comments: This is too funny. I can’t wait to collect the whole set.
Madoff Gets Trading Card in Scammer Set
My Comments: Madoff makes a $20K gift to a kids trust fund, then breaches his fiduicary duties and steals nearly $460K from the trust.
My Comments: The best quote from the article is:
“Washington-state bureaucrats have opened a new chapter in the debate by ruling that wrestling is a real form of sport even when it consists of a man in a banana suit performing fake kung-fu moves in a tavern”
Madoff’s wants to be set free until after his sentencing. Ira Sorkin, Madoff’s attorney wrote “Since his arrest, Mr. Madoff has complied at all times with the extraordinarily restrictive bail conditions imposed upon him,” EXCUSE ME – but you are suppose to comply with your terms of bail! You shouldn’t get a cookie or free pass for doing what your are required by the court to do. Also, I question whether sending millions of dollars in jewlery to friends and relatives around the country before the tidal wave of civil lawsuits start violates the terms of his bail.