Bungled bailout opinion du jour
Kannon Fodder:
This one from the Miami Herald – quote:
“”Troubling” is the kindest word we can think of to describe the greed and irresponsibility displayed by Merrill Lynch chief executive John Thain as his brokerage was going down the drain. Forced to sell the company to Bank of America, Mr. Thain lavished billions of dollars in secret, last-minute bonuses to his staff last month, just before the takeover and just before the government had to fork over a second bailout to cover Merrill’s $15 billion fourth-quarter loss.”
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I was on a plane headed for FL last night and read this same article in the paper at La Guardia…..The bailout has turned into a BIG freaking joke as far as I’m concerned. Fire all of the little guys and let the big whigs pull a ginormous pension!
We are headed right down the Tubes as far as I’m concerned..
I have to agree with Diane I mean what about the local bookstore that I go and get my obscure esoteric books from? What about the local ice cream store that makes their ice cream from scratch? But most of all what will happen to me when I am reduced to going solely to chains? Larger businesses don’t care about what I want so long as they are turning a profit. I miss the local shops that have left and cry for those that are leaving.