Category Archives: Wall Street

Facebook IPO: Over-Hyped and Over-Valued

Saturday, May 19, 2012 Facebook’s long awaited IPO dominated the news Friday. Wall Street, salivating over the anticipated value of the social-media giant, said the company was worth as much as $104 billion, opened at $38 a share, selling some … Continue reading

Posted in Business, Facebook, IPO, News, Wall Street | Tagged , , , , | 11 Comments

Wall Street Pay Hits Record Levels

Tuesday, October 12, 2010 After I reported yesterday that 58 million Social Security recipients won’t receive a COLA (cost of living) in their monthly benefit checks for a second consecutive year, I found this jewel today. The Wall Street Journal … Continue reading

Posted in News, President Barack Obama, Wall Street | Tagged , , | 6 Comments

Obama Administration Fails to Halt AIG’s $165 Million Bonus Scheme

Monday, March 16, 2009 President Barack Obama recently said paying bonuses to Wall Street was “shameful” while companies survive on Federal life support. But the president has discovered changing the culture of Wall Street is much more difficult than anticipated. … Continue reading

Posted in Bailout, News, Politics, President Barack Obama, U.S. Economy, Wall Street | Tagged , , , , , , | 27 Comments

Obama Treasury Dept. to Citi: Don’t Pimp Your $50 Million Ride

Tuesday, January 27, 2009 Citigroup, which received a massive taxpayer-funded rescue last year, cancelled plans to buy a $50 million executive jet after news of the new plane drew rebukes from politicians including from the Obama Treasury Department. The bank … Continue reading

Posted in Bailout, President Barack Obama, U.S. Economy, Wall Street | Tagged , , , , , | 9 Comments

Wall Street Gets the Spa Treatment

Wednesday, October 8, 2008 Let me start by saying I was fiercely opposed to the U.S. taxpayer bailing out Wall Street and here’s why. Just days after it got a Federal $85 billion bailout, American International Group Inc. (AIG) spent … Continue reading

Posted in Bailout, Bush, U.S. Economy, Wall Street | Tagged , , , | 12 Comments