theobannion

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  • Save the Bailout Drama
    "Democracy?"

    Please let's stop using terms of the propaganda art. The essence of democracy is that political power resides in the people NOT IN THE VOTE!

    How powerful are YOU feeling today?

    This from MSNBC this AM:

    "But at the last minute, the Bush administration insisted on a one-sentence change to the provision, congressional aides said. The change stipulated that the penalty [to top execs] would apply only to firms that received bailout funds by selling troubled assets to the government in an auction, which was the way the Treasury Department had said it planned to use the money.

    Now, however, the small change looks more like a giant loophole, according to lawmakers and legal experts. In a reversal, the Bush administration has not used auctions for any of the $335 billion committed so far from the rescue package, nor does it plan to use them in the future. Lawmakers and legal experts say the change has effectively repealed the only enforcement mechanism in the law dealing with lavish pay for top executives."

    How can you have a democracy when the only power the people have is to "vote the bums out" and vote another bunch of bums in? All the bums are professional politicians. All have to spend hundreds of millions of dollars to get elected. And all are in the pockets of Big Money & Big Business.

    Enjoyed your article.

    Best,
    Seamus O'Bannion.
    Dec 15 08:23 am |Rating: +1 -2 |Link to Comment |View article
  • Global Market Performance: Nowhere to Hide
    Dear Hue101,

    Your EWZ has a good chance of bouncing here, as it just tagged its 200 day moving average. Target might be the fifty day MA, about 10 pints up. Then probably down again. Big inflation in Brazil & rest of SA, with increasing interest rates - never propitious for stocks. EWZ has also been underperforming the DJ Wilshire 5000 since late may.

    Best,
    Seamus O'Bannion.
    Jul 06 11:51 am |Rating: 0 0 |Link to Comment |View article

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