CNBC's hypocrisy; Merrill's Thain
Cramer vs Not Cramer.
Watch the first 2mins of Rick Santelli's rant. Hilarious but somewhat hypocritical as well. He (and CNBC) did not seem so outraged when the gov't was bailing out the banks to the tune of $800Bil. then the banks don't lend the money, they just paid out their bonuses. But when the gov't tries to help the homeowners with $250Bil, oh the outrage, the injustice. Nevermind that it may save the housing market and reflate their toxic assets. Oh wait, that 2 degrees of thinking, one too many for them.
Speaking of justice, there may actually be some coming:
Cuomo investigating Thain
Hopefully Thain has perjured himself and he will go to jail. They are all crooks.
posted by Junk Bonds @ 3/12/2009 10:52:00 AM
3 Comments:
Yeah i watched the Santelli video and I couldn't stand these wasps acting the macho trader bit, purporting to be the know-it-alls of finance. Good on Jon Stewart to take these guys to task.
http://crooksandliars.com/john-amato/jon-stewart-creams-jim-cramer-daily-sho
This is the link to yesterday's Daily Show when Cramer is his guest and acts so repentant. What a fucking joke. He tries to look meek and sorry! I think he has a psychiatric disorder. All these traders are borderline sociopaths, and Cramer is manic-depressive for sure.
Here's the latest from Associated Press. The lynchings can't be far off!
Activists protest bonuses at AIG executives' homes
Saturday March 21, 2:27 pm ET
By John Christoffersen, Associated Press Writer
Dozens of activists visit AIG executives' homes to protest bonuses from federal funds
http://biz.yahoo.com/ap/090321/aig_bonuses.html?sec=topStories&pos=2&asset=TBD&ccode=TBD
There's something to be said for the current state of affairs when the most relevant commentary comes from Colbert and Stewart on the COMEDY Network! (Isn't there some archetypal theme where the court jester is the only one who can actually see/speak the truth?)
A few nights ago, Colbert was waving a pitch fork as a prop to lead the mob lynchings of AIG and bank execs.
As we've said before, a lot of things have been swept under the rug during the good times. I think the AIG (ML, BAC) bonuses are symptomatic of the excessive greed and moral corruption on Wall St. we'll see a lot more outrageous entitlements uncovered during this purge.
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