There never should have been an allowed bailout of Bear Stearns. This is a massive joke. Why bailout some ridiculous company that managed itself so badly that at one point was trading around $160 per share, only to allow them to be bought for $2 per share.
Their CEO was reportedly playing in a freakin' Bridge Tournament in the UK for the majority of last week when the shit was starting to hit the fan. This stooge should be forced to forfeit any stock holdings he has, any salary he has left should also be forfeited and any member of the Board should also lose their money.
The company failed, they should go under. Isn't this what republicans ALWAYS talk about...the free market will take care of itself...blah, blah, blah. Orrrrrrr...the market will screw the little guy, the man/woman working at a low-level job at Bear Stearns...while, the rich, white business executives will get a comfy bailout. I'm quite sure this asshat who is/was the CEO of this company will be taken care of in a comfortable way. Meanwhile, already reports have surfaced that JP Morgan has/will slash 50% of the workforce.
Bailout the people who got screwed by mortgage companies, not the companies themselves. No-brainer.
A Good Feeling
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I have been through hell in my life, as has been documented in this blog
before. But, here I am at this point, both personally and professionally
happy. I ...
13 years ago
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