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.
cheers,
Bellini
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3 comments:
well said hon well said
"Hopefully, the industry will be shamed enough to change its ways (platinum parachutes for less than stellar peformance)."
I think we are going to need a little more than shame...
@T Stephens: thanx--i try!
@Courvoisier: yup you're right about that...folks need to make sure they're responsible; for those folks who've demonstrated greater responsibility (i.e. spending habits, debt ratio, etc.) they're in a better position to buffer the blows...doesn't mean folks haven't taken hits;
right now the economy is a mess (literally and figuratively) and there's plenty of blame to be doled out, however blame don't solve problems...the economy is teetering on the edge and i'm not tryin' to find out how deep that hole is nor is Congress, pundits, or regular folks. let's keep it real!
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