One Day Past Hump Day
I shouldn't read the headlines...
Didn't Paulson testify in a recent hearing that he did not pressure Ken Lewis? And now he says he did? I guess lying in testimony is still A-OK with our two houses of congress.
Paulson says he pressured Bank of America CEO
And from this next one, it appears that the next massive wave of layoffs is coming sooner, not later. This fits in with my pet 'THEORY' (I said it, 'theory'), that in a downturn the US Government will favor the largest institutions over the small. We are headed to a monopoly business environment, with smaller entities moving to gray and black markets.
CIT won't get bailout, raising bankruptcy prospect
More Green Shoots
Foreclosures rise 15 percent in first half of 2009
Uh oh... Will the Chinese being writing our textbooks in a few years? Could this mean lower tuition rates in the future? Probably not.
McGraw-Hill cuts 550 jobs
But there is good news. Some of the USA's favorite charities are posting record profits in a year where charitable giving by the taxpayers has broken all records.
Here's an example of one, that has done exceptionally well, in it's ability to absorb free monies, funneled through various charity bailout programs.
Hey Obama, I can do better than them! Give me a hundred billion dollars and I'll post a nearly 100% profit! I promise I'll make you look good! You can even tax half of it and use that payment to show how your stimulus plan is working! I'll tell you what, I'll even promise to use some of it for risky gambling, like the banks do!