Finance Questions

Archive for July, 2007

Question: How many of these crooks will go free as the market tumbles?

(R) Chris Cox; Chair--Securities and Exchange Commission (SEC)
(R) Henry Paulson; Secretary of the Treasury
(D) Barney Frank; Chair--House Finance Committee
(D) Chris Dodd; Chair--Senate Banking Committee
(D) Richard Syron; CEO--Freddie Mac.
(D) Frank Raines; CEO--Fanny Mae
(D) Kerry Killinger; CEO--Washington Mutual
(D) Maurice Greenberg; CEO--AIG
(D) Richard Fuld Jr. CEO--Leman Brother

Answer: they are in the good ole party they have the control they are untouchable, the only way to get them out is impeachment and they will not do that to themselves

Financials to Watch: Lehman Brothers, Washington Mutual, Merrill Lynch

Question: Does Congress have the testicles necessary to save the auto industry?

I'm thinking not. I also think that they need to consider the cost to suppliers and financial markets if they fail to act, and bankruptcy is forced on GM and Chrysler. If we are going to burn money, it seems like it's more important to give these companies a shot than burning it in Iraq or in Finance Companies that are still not doing what they were supposed to under the bailout package.

Answer: If they don't, and the companies fail, Congress will have shown itself to be as craven and idiotic and self-destructive as the Congress of Hoover's day.

Chrysler Financial Getting $1.5 Billion Loan from Treasury