A
Anonymous
Guest
CNN is currently running a Top Ten Scoundrels list for who caused the economic problems we're in as have been chosen by the leading economists... Nightly they add a new Scoundrel...
#1) Top on their list is AIG CEO Robert Wiliamstad for total wrecking what was a very strong corporation with his huge gambles- and then after getting the bailout, spending 1/2 Million taxpayer dollars for his folks to take a Spa Retreat...
#2) Lehman Brother CEO Richard Fuld that made nearly $500M in personal profits since 2000, while guiding Lehman to bankruptcy...
#3) SEC Chairman Cox- who apparently was asleep at the wheel-did no oversight or regulation- and was telling the public and Congress that the economy is strong even as it collapsed about him....
#4)Ex Senator "Foreclosure Phil" Gramm for his fathering and steering thru the Gramm-Leach-Bliley Act in 1999 which removed Depression-era laws separating banking, insurance and brokerage activities. and then the Commodity Futures Modernization Act of 2000(which Gramm stuck at midnite into a must pass omnibus spending bill- almost unknown by all in Congress) which deregulated trading even more and has been cited as a public-policy decision significantly contributing to Enron's bankruptcy in 2001 and now the much broader liquidity crisis that led to the bankruptcy filing of Lehman Brothers and emergency Federal Reserve Bank loans to American International Group and to the creation of the U.S. Emergency Economic Stabilization fund.
#1) Top on their list is AIG CEO Robert Wiliamstad for total wrecking what was a very strong corporation with his huge gambles- and then after getting the bailout, spending 1/2 Million taxpayer dollars for his folks to take a Spa Retreat...
#2) Lehman Brother CEO Richard Fuld that made nearly $500M in personal profits since 2000, while guiding Lehman to bankruptcy...
#3) SEC Chairman Cox- who apparently was asleep at the wheel-did no oversight or regulation- and was telling the public and Congress that the economy is strong even as it collapsed about him....
#4)Ex Senator "Foreclosure Phil" Gramm for his fathering and steering thru the Gramm-Leach-Bliley Act in 1999 which removed Depression-era laws separating banking, insurance and brokerage activities. and then the Commodity Futures Modernization Act of 2000(which Gramm stuck at midnite into a must pass omnibus spending bill- almost unknown by all in Congress) which deregulated trading even more and has been cited as a public-policy decision significantly contributing to Enron's bankruptcy in 2001 and now the much broader liquidity crisis that led to the bankruptcy filing of Lehman Brothers and emergency Federal Reserve Bank loans to American International Group and to the creation of the U.S. Emergency Economic Stabilization fund.