Well people now you know - the type of people that have been trashing the world economy. On the basis of this behavior it is easy to understand why the world's financial system is in such a state and dragging all of us down with it. Paying performance bonuses (even in the face of 'contractual obligations') when the company has collapsed, gone broke, etc, is morally and ethically corrupt.
Some reports have indicated that Kundra may have had contact with the individuals of interest in the investigation in his earlier positions. It is essential that the links between them be identified and researched.
A person with character would have resigned given that he was obviously in over his head in the DC position even if he was not directly involved in the fraud. The fraud happened on his watch; he is responsible for it. There are tens of thousands of people more qualified for the position.
... in the 4th quarter were US investors pulling out of hedge funds, who had part of their money overseas, so they had to sell overseas securities, and use the foreign currency to buy US dollars to liquidate the assets.
Once you know that was a big part of the flow, its kind of obvious that (1) a lot of that money will end up in US Treasury Securities as a flight to security and (2) it is not an ongoing process but a one-off shift.
he's claiming a certain state, caste is trying to capture the U.S. job market in (I guess) I.T.
but no evidence. the key here is to post actual evidence.
Look, I am not amused at all by those who focus on cultural, socio-ethnic issues instead of the economic stats.
I know this issue inside and out, have been dealing with it for years so I also know the pitfalls that do not hold up the values of domestic diversity, meritocracy, equality, social mobility.
And you know, because I write about this, I am clearly on the side of the U.S. working professional.
This site is not going to turn into one of the comment cess pools on this topic. Period. There are plenty of sites to go degenerate into that...hell, try any youtube video on H-1B and post on Dice, slashdot. Not here.
I will look for details. Interestingly, the three trustees appointed by Fed to serve on AIGs board have refused to say whether they would support the shareholder proposal.
there are reports of these financial people who are demanding executive bonuses threatening to leave AIG, hedge against it. Is this not criminal, use of insider trading as well as violation of their NDA and confidentiality agreements? Will AIG promise to sue these employees as well as alert the DOJ and Interpol to any criminal activity or wrong doing in this case?
exec. compensation reform there are numerous proposals...
I'm pushing Gomory's complete corporate law overhaul agenda personally but exec. compensation incentives is obviously a notorious problem to incentivize everything from layoffs to bad mergers to bad management.
but give a link to any relevant document, esp. any details.
I think one of my hopes is this macro economic recession is used to enact policy changes to stop the perpetual recession on working America, middle class.
I have to write a post on institutionalized age discrimination. We have so many people with zero retirement who now need to work until they drop, then on top of it, we have massive age discrimination in the work force.
I am not making this up, but literally high tech employers believe an Engineer, technical worker is "over the hill" at age 35. 35, I am not kidding.
So, that cuts careers short beyond belief, never mind the entire discrimination against anyone over the age of 45 in other sectors.
Anyway, that was my silver lining in Economic Armageddon, and I fear if the economy bounces back, the long slow dribble to death of the U.S. middle class, working America will just continue...nothing changes.
In the latest data, 90% of the dollars going to foreign countries to pay for the U.S. trade deficit was being reinvested in U.S. government debt. While mathematically that ratio can rise to more than 100%, practicality means it can not. A ratio of more than 100% would mean governments are investing more dollars than they are receiving in U.S. debt. In short, they would have to take dollars away from their citizens in order to help finance the U.S. government. That probably is not going to happen.
Should the U.S. trade deficit continue to shrink, the amount of U.S. debt to be bought by foreign central banks will fall. Unless the U.S. trade deficit rises, the amount of U.S. debt that can be bought by foreign institutions will be capped. In short, the supply of money for the U.S. government from gullible foreign official institutions is being capped at a new, lower level.
That means Obama will need to turn to the Federal Reserve to monetize a goodly portion of the more than $2+ trillion deficit of the U.S. government in the year ahead.
Those "pundits" (like that M&A newsy clown over at NY Times et al.) claim that those "retention" bonus contracts shouldn't be broken - or else they'll sue!!
Outstanding, thinking people reply, as the discovery process will shed light and bring forth that data as to why when AIG when a few billions into default, a cascading financial wave would be released which would result in a $20- to $24 trillion Euro-bank meltdown!
And none of those derivatives' traders can sort out anything -- there's a valid CYA reason they didn't do any bookkeeping with those naked credit default swaps and their collateral triggers.....
That the popularity of "Extreme Home Makover" and "Habitat for Humanity" will keep housing starts from becoming truly 0.
But then again, those are charity cases, not for-profit sales.
-------------------------------------
Moral hazards would not exist in a system designed to eliminate fraud.
We are now in what is historically the prime buying season for real estate. However with the record amount of inventory, shadow inventory, foreclosures, pre-foreclosures and short sales ... any new starts only exacerbates the problem.
Could we see a bump here in starts? Sure. Nothing is 100%. If builders aren't building they might as well be out of business. However builders are not competing against other builders in pricing ... they are competing against foreclosure pricing and with that I don't know how or why they are building.
In defense of Grassley, yesterday I heard these suggestions, also coming from Congressional Representatives, on mike, in addition to other public figures:
1. We need to have a couple of these executives shot in a public arena like a football stadium
2. A couple of public hangings would help these executives get the message
3. We need a guillotine in the public square
So, what are these people are really saying is AIG is committing treason against the United States, economic treason. They created investment vehicles so unsound, plus interwove dependencies throughout the global economic system to risk an entire global financial collapse.
So, APs focus on Grassley is out of context for they need to find every single public figure who said such things.
I think Goolsbee yesterday called AIG evil.
I'd say such irresponsibility deserves such rhetoric to drive home the point....just because there are no guns or bloodshed involved doesn't mean the acts are just as devastating.
Seriously, it's pretty clear if one wants to be a successful thief, one must turn to white collar crime and activities. Even when they are guilty as shit they are treated like kings. Case in point is Madoff being allowed to stay out on bond.
housing starts rose for the first time in eight months, up 22.2 percent in February from record lows in January, largely as a result of a rebound in condominium and apartment building.
Low cost housing contributing to increase.
Housing is still too expensive in relation to incomes. With unemployment still cliff diving m-o-m foreclosures are set to continue higher.
One month does not a trend make.
On a year-over-year basis, housing starts fell 47.3 percent.
Well people now you know - the type of people that have been trashing the world economy. On the basis of this behavior it is easy to understand why the world's financial system is in such a state and dragging all of us down with it. Paying performance bonuses (even in the face of 'contractual obligations') when the company has collapsed, gone broke, etc, is morally and ethically corrupt.
Some reports have indicated that Kundra may have had contact with the individuals of interest in the investigation in his earlier positions. It is essential that the links between them be identified and researched.
A person with character would have resigned given that he was obviously in over his head in the DC position even if he was not directly involved in the fraud. The fraud happened on his watch; he is responsible for it. There are tens of thousands of people more qualified for the position.
... in the 4th quarter were US investors pulling out of hedge funds, who had part of their money overseas, so they had to sell overseas securities, and use the foreign currency to buy US dollars to liquidate the assets.
Once you know that was a big part of the flow, its kind of obvious that (1) a lot of that money will end up in US Treasury Securities as a flight to security and (2) it is not an ongoing process but a one-off shift.
Politico.
I find this incredible. This crap happened right under his nose and he is going to reform how contracts are awarded, procurement?
he's claiming a certain state, caste is trying to capture the U.S. job market in (I guess) I.T.
but no evidence. the key here is to post actual evidence.
Look, I am not amused at all by those who focus on cultural, socio-ethnic issues instead of the economic stats.
I know this issue inside and out, have been dealing with it for years so I also know the pitfalls that do not hold up the values of domestic diversity, meritocracy, equality, social mobility.
And you know, because I write about this, I am clearly on the side of the U.S. working professional.
This site is not going to turn into one of the comment cess pools on this topic. Period. There are plenty of sites to go degenerate into that...hell, try any youtube video on H-1B and post on Dice, slashdot. Not here.
Link
I will look for details. Interestingly, the three trustees appointed by Fed to serve on AIGs board have refused to say whether they would support the shareholder proposal.
there are reports of these financial people who are demanding executive bonuses threatening to leave AIG, hedge against it. Is this not criminal, use of insider trading as well as violation of their NDA and confidentiality agreements? Will AIG promise to sue these employees as well as alert the DOJ and Interpol to any criminal activity or wrong doing in this case?
exec. compensation reform there are numerous proposals...
I'm pushing Gomory's complete corporate law overhaul agenda personally but exec. compensation incentives is obviously a notorious problem to incentivize everything from layoffs to bad mergers to bad management.
but give a link to any relevant document, esp. any details.
I think one of my hopes is this macro economic recession is used to enact policy changes to stop the perpetual recession on working America, middle class.
I have to write a post on institutionalized age discrimination. We have so many people with zero retirement who now need to work until they drop, then on top of it, we have massive age discrimination in the work force.
I am not making this up, but literally high tech employers believe an Engineer, technical worker is "over the hill" at age 35. 35, I am not kidding.
So, that cuts careers short beyond belief, never mind the entire discrimination against anyone over the age of 45 in other sectors.
Anyway, that was my silver lining in Economic Armageddon, and I fear if the economy bounces back, the long slow dribble to death of the U.S. middle class, working America will just continue...nothing changes.
this blip can be just a reflection of better weather conditions in Jan/Feb.
with selling off divisions/assets? Is there a lack of agreement on price - difference in evaluations?
What is his position on AFSME's shareholder proposal with tying executive compensation to long-term profits?
This article explains it well.
... there is a growing trickle of shocking, positive statistics -- suggesting (crossing fingers here) that we are getting quite late in the recession.
Bringing some shocking positive statistics to light....jez, get with the Armageddon program! ;)
Those "pundits" (like that M&A newsy clown over at NY Times et al.) claim that those "retention" bonus contracts shouldn't be broken - or else they'll sue!!
Outstanding, thinking people reply, as the discovery process will shed light and bring forth that data as to why when AIG when a few billions into default, a cascading financial wave would be released which would result in a $20- to $24 trillion Euro-bank meltdown!
And none of those derivatives' traders can sort out anything -- there's a valid CYA reason they didn't do any bookkeeping with those naked credit default swaps and their collateral triggers.....
That the popularity of "Extreme Home Makover" and "Habitat for Humanity" will keep housing starts from becoming truly 0.
But then again, those are charity cases, not for-profit sales.
-------------------------------------
Moral hazards would not exist in a system designed to eliminate fraud.
So I will try to address your question this way.
We are now in what is historically the prime buying season for real estate. However with the record amount of inventory, shadow inventory, foreclosures, pre-foreclosures and short sales ... any new starts only exacerbates the problem.
Could we see a bump here in starts? Sure. Nothing is 100%. If builders aren't building they might as well be out of business. However builders are not competing against other builders in pricing ... they are competing against foreclosure pricing and with that I don't know how or why they are building.
It has always been about class warfare.
This is fun, AP is jumping on Senator Grassley's comments that AIG execs. should kill themselves.
In defense of Grassley, yesterday I heard these suggestions, also coming from Congressional Representatives, on mike, in addition to other public figures:
1. We need to have a couple of these executives shot in a public arena like a football stadium
2. A couple of public hangings would help these executives get the message
3. We need a guillotine in the public square
So, what are these people are really saying is AIG is committing treason against the United States, economic treason. They created investment vehicles so unsound, plus interwove dependencies throughout the global economic system to risk an entire global financial collapse.
So, APs focus on Grassley is out of context for they need to find every single public figure who said such things.
I think Goolsbee yesterday called AIG evil.
I'd say such irresponsibility deserves such rhetoric to drive home the point....just because there are no guns or bloodshed involved doesn't mean the acts are just as devastating.
Seriously, it's pretty clear if one wants to be a successful thief, one must turn to white collar crime and activities. Even when they are guilty as shit they are treated like kings. Case in point is Madoff being allowed to stay out on bond.
Assuming you don't think there will be 0 housing starts in 2010.
Low cost housing contributing to increase.
Housing is still too expensive in relation to incomes. With unemployment still cliff diving m-o-m foreclosures are set to continue higher.
One month does not a trend make.
It has always been about class warfare.
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