The Center for International Security Study’s second annual symposium was held on May 13-14, 2010 at the Woodrow Wilson School, Princeton University. Focusing on the world’s financial crisis and its implications on geopolitics and strategic relationships across the globe, the symposium was launched by a keynote address by Paul Krugman on the current financial crisis in Greece and other countries in the European Union. Video Rating: 4 / 5
For the latest Warren Buffett, go to WarrenBuffettNews.com – Warren likes to work with people that he likes and he likes to continue to grow Berkshire Hathaway. It is the painting that is never finished. He is going to do the same thing no matter what Citibank or the governments of the world are doing. He has never made an investment decision based on a macro view or any idea of what the world economy is doing or might do. The world will be here in ten years, and he wants to buy businesses that will be around at that time to serve people with goods and services. Growth is not a big factor in his investment decisions. He wants a business with a competitive advantage, good management, will be around in ten years, and is at a good price. Growth is good, but it is not a major factor in investment decisions. Central banks make mistakes, but most of the time they get it right. In the United States, the central bank have used most of the bullets that they have. Although there are some measures they can take, it is a small factor compared to the resilience of people and the market system. Steve Jobs may come out with a new product, or Amazon may figure out a more efficient way to distribute products. Those are the types of things that will move the economy forward, not a central bank. We don’t need any more monetary stimulus than we have already had. Over a period of time, there is no risk to the American economy. Over the next 100 years, there may be 15 terrible years, but it is … Video Rating: 5 / 5
I personally do not believer that a 85 billion dollar financial crisis bail out, or whatever figures the congress comes up with, will help out the common person or the current crisis. Think about it! Do you really believer that the real interest now is in yours or my well being? Face it corporate greed and misappropriation by the major financial institutions has caused the current financial crisis. Every executive was in it for the short term. The name of the game seemed to be “Get in, get what you can steel legally, and get out. Then move on. (Wash, Rinse and do it again.)
I worked for an industry my entire life and was one of those annoying people that believed you can get out of a career what you put into it. In some cases that may still be true but they are few and far between. My industry was taken over by a group of scoundrels in 1998. I watched powerlessly as it was raped and pillaged by those executives that learned to answer to a board of corrupt directors. The only thing that mattered was how they made their numbers to gain their bonus. Company longevity be damned, employees be damned and even customer service be damned, just make that bonus and get those numbers for the board. Do I sound bitter? Yes! Am I bitter? Yes! The point is, you should be too!
Here is a thought! Osama Bin Ladin targeted our financial market twice and caused thousands of innocent lives to be lost. According to Bin Ladin himself he did this to destroy America’s economy. What Osama missed was the fact that he didn’t have to do anything! The greed and corruption in our own system did the job for him. Think about it! These corrupt, greedy corporate executives most likely look at Bin Ladin’s attacks as an opportunity to get their hands further into the country’s economic cookie jar. I am by no means making light of the attack on the world trade center or the twin towers. They were cowardly and deplorable acts of terrorism. My point is the financial and corporate terrorists that caused the past and current financial crisis should be dealt with in no less swift and decisive manner than Bin Ladin. Why reward their actions. Do we really believe that the same people that are responsible for this travesty are not already looking at ways to profit from a bail out?
I know the congress has to do something to stop the slippery slope into recession or even worse depression. I just don’t think giving more money to the geniuses on Wall Street and in the financial institutions that have already demonstrated their trustworthiness is an answer. One more small point if I may. How is raising the F.D.I.C. from 0,000 to 0,000 help you and I. Maybe you have 0,000 to put in the bank but I know I never will.
About the Author
B. J. Lyons, doing what I can to help support our economy. Please join me in the opportunities that the internet offers to promote free enterprise. www.budrickspage.com and budricks blog