As we all know life ain't fair, but you have to take the lemons and make lemonade -- right. The financial mess on Wall Street with AIG as the nexus is fueling all fears. Those of you that believe that AIG can collapse, that's a bluff that you don't want to be called -- at least right now. This company insures 70% of small businesses and small businesses are barely hanging on a thread. The problem is AIG is a matrix, and there is no clear authority on whom knows the structure of the company. Somebody needs to their homework and figure that shit out -- that's the million dollar question. If we figured that out, then the Treasury Department would be in a position to make prudent decisions about company's future. However, I'm not giving Geither & Co. any slack because he seems a lil' green, but time will tell. And, so just when populist outcry is ready to hang AIG employees, Jake makes you think twice.
And now it's safe to assume, AIG lost one -- a good one, that shouldn't have left. And as Jake shared, for the most part, the dishonorable have skipped town with bonuses intact. Unfortunately, Wall Street and finance is one thing, but when Wall Street has to meet up with Main Street vis-a-vis Capitol Hill, you better know how to play politics. Chris Matthews embodies it best -- it's Hardball! Now Wall Street may want to pontificate and such and think jobs are plentiful, but when 1 job announcement for a janitor receives 500 applicants--think again. And yes, we get that everyone in Wall Street didn't fcuk up, however, ya'll just have to face the scorn of the public. Hopefully, the industry will be shamed enough to change its ways (platinum parachutes for less than stellar peformance). The fact of the matter is tensions are runnin' high, and answers are few and far in between. So, life ain't fair, and Wall Street, accept the fact that you're the receipient of the brunt of anger and frustrations--justly or unjustly so.
SO LONG, FAREWELL...
The View From Here will conclude on Friday, October 1, our third year anniversary. We would like to spend this month thanking all of our readers, followers, haters, visitors, family, friends, and fans for your continued support, encouragement, and comments over these past few years. Thanks y'all!
-The Five Spot