Wednesday, July 15, 2009

tower of babel

I'm back again and ready to go.

Back in the news, an investment banking firm made record quarterly profits. I wonder how that happens. to stay alive these firms needed billions to stay afloat, and now 6-9 months later are making billions. Makes you wonder, doesn't it. How much is a billion dollars. Is this really cash money profits or just some paper entry made by some accountant.

I was talking to some people today about the GM and AIG . The amounts of money the government has pumped into them was astonishing. Did you ever wonder how two companies could burn thru 50-60 billion dollars. Where did that money go, I know I didn't get any. We have pumped all this money into 2 companies, and the unemployment rate went up. I know if the government pumped a couple of billion my way, I'd figure a way to put a couple of people to work.

While I'm on the subject of money, What ever happened to Bernie Madoff's 65 billion ? How could one individual burn all this money up. That's more than GM and AIG. Now the guy gets 150 years in prison. Why aren't all the GM and AIG guys in jail ? Is the government going to do a bailout of the Bernie Madoff investors?

We will probably have to revisit this later, but it seems to me nothing really make sence anymore, and probably never will.

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