Tag: aig bailoutSort
There seems to be tug of war between those who ” Predict” this harsh Recession will be over this quarter or next year and those that react to the economic situation. Truthfully no one knows how long this Recession will last or when it will be over. The fact is those more money has been lost recently trying to call a bottom.
The question is are we just hearing political banter or should we believe the Chinese? Several weeks ago Premier Wen Jiabao called on March 13 for the U.S. “to guarantee the safety of China’s assets. The fact that even buying and holding US Treasuries the Chinese are losing money as their currency the Yuan has appreciated versus the US Dollar.
Answering My Children: What Comes After a Trillion?
The innocence and knowledge of a child is sometimes much more clearer than our insights. My young daughter asked me what comes after a Trillion dollars. My son answered a Zillion. I had to interject and add that does not exist ( yet). Maybe U.S. Treasury Secretary Timothy Geithner will invent a new number the way he is going.
Do you remember the statement.. It is the economy,Stupid…Maybe the same words are effecting President Obama’s approval ratings. They are slipping as Americans are worried about the economy. Obama’s approval rating slipped to 59 percent from 64 percent last month. All in all Americans still generally support Obama’s handling of the economy however more questions are cropping up.
Since we the taxpayers own approx 80% of AIG shouldn’t we have some say in their affairs. As 80% owners should we approve payouts of $450 million in bonuses for employees in the unit that lost $40.5 billion last year. What happened to the idea of rewarding preformance. This is reward for FAILURE!