David Hamilton
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Showing posts tagged banking
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Merrill Lynch paid itself $4 BILLION in bonuses
Merrill Lynch paid itself $4 Billion in bonuses 3 days before the bankrupt company was taken over by Bank of America?!!!!
Three questions: Where was the oversight? Surely, once it was known that bailout money was going into the banks (and Merrill, or its rescuer was clearly going to be a recipient), a method of overseeing the financial management of these companies needed to be created? Or did the government just trust that they would do ‘the right thing’?
Secondly: What on earth was Bank of America doing? Didn’t they do any checks, or did they just assume that the government would cover all of the losses incurred?
Thirdly: How do we change corporate culture to get the definition of ‘bonus’ to return to be something that is paid for creating success, not just turning up every day?
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Loaning of Shares
This article tries to absolve short selling of responsibility for the bank values crash a couple of weeks ago (it does look like institutions dumped their bank stock as soon as they found out that short-selling was being re-enabled).
But the interesting statistic in this article is that over 3 percent of Barclays shock was out on loan, even while short-selling was banned. Which begs a question:
Why would people or institutions want to borrow stock, if they are not using them to sell short?
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“I was there to take down the names of people who were arrested… As I’m standing there, some...”
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This is genuinely Microsoft’s idea of a “streamlined”, “optimized” UI for Windows Explorer. They...
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So, Steve Jobs has left his role as Apple’s CEO. Like, for good this time. It’s a shame, but it...
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Rope-A-Dope, Indeed
Sometimes you want so badly to say “I told you so!” after months of...
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My TSA Encounter
“You don’t need to see his identification.”
On November 21, 2010, I was allowed...
