Overnight, the U.S. government took control of AIG, the world's largest insurance company. At least they own 80 percent of the shares, which is effective control. See http://online.wsj.com/article/SB122165238916347677.html
Earlier this month, they took over Fannie Mae and Freddie Mac. What will be next - the nationalization of banks and the health care system? I'm concerned for my American friends and family. My daughter and her husband bought a home near Atlanta about 8 years ago. Today they would have to sell for less than they originally paid. Most of my friends in the U.S. have less net worth today than they had 5, 10 or 15 years ago. What the executives of these large organizations have done to great American institutions is downright criminal. And the cops (regulators) on the beat failed to see it coming. They are equally culpable. Every American will pay for these excesses. They will now have less access to loans and pay higher interest on loans that they do get. And just wait for the higher insurance premiums that are surely around the corner. They will also have less control over their financial institutions. Look at Barclays (a British company) picking up the best parts of the failed Lehman Brothers for a song. Even Morgan Stanley, a profitable and stable investment banker, is at risk of being bought out by non American interests. Some form of control has to be implemented that prevents CEOs of earning over $100 million while at the same time the business goes bust. That's what Robert Willumstad, the CEO of AIG took home over the last few years. There has to be some form of leveling of the playing field to ensure that the average citizen isn't penalized. God bless America and protect it from thieving greedy white collar criminals. --- StripMime Report -- processed MIME parts --- multipart/alternative text/plain (text body -- kept) text/html --- _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
