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Apparently, I've Started My Reading in the Comics Section Today.

Recs

6

July 12, 2009 – Comments (6)

Here's a few of the frames; 

"rich culture of corporate stupidity"

"We've apparently reached the perfect storm for complete and utter idiocy by some banks"

"Now, it seems these moronic mortgages require moronic foreclosures."

"a stunt that was never even attempted on the MTV show "Jackass"

"Four or five years ago, you would have never seen this," Fernandez said. "Now, it's very common".

6 Comments – Post Your Own

#1) On July 12, 2009 at 7:55 AM, devoish (99.07) wrote:

Wells Fargo Bank Sues Itself

 

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#2) On July 12, 2009 at 8:34 AM, whereaminow (42.76) wrote:

That was funny.... and then sad.... and then funny again. Good find.

David in Qatar

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#3) On July 12, 2009 at 9:11 AM, dickseacup (67.69) wrote:

Not much different than how I envision the new Generous Motors will operate. After all, the UAW is part owner, now, right? Are they going to negotiate labor contracts with themselves? Is the government, as majority shareholder, going to strongarm enivronmental and labor concessions from itself?

The world has gone mad.

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#4) On July 12, 2009 at 10:59 AM, devoish (99.07) wrote:

Will the UAW negotiate labor contract with themselves?

If the do I hope they are smart enough to demand cash and not expect that the property known as employee pensions will get the same protection under the law as the property know as executive pensions.

And just for the asking, how would that be different than GS executives negotiating GS executive salaries?

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#5) On July 12, 2009 at 2:55 PM, SuperCharge (89.14) wrote:

Hard to believe this is common practice.

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#6) On July 13, 2009 at 2:20 PM, wrparks (66.35) wrote:

"And just for the asking, how would that be different than GS executives negotiating GS executive salaries?"

 

Devoish, you know better than that.  UAW is majority owner of THE NEW GM (TM).  GS executives are not majority owners of GS.  According to this:

http://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=GS

GS insiders own 2.5% or less of the company.  

If the union members can vote as a group (probably optimistic), they have complete control of the company.  If GS insiders vote shares in a agreement, they still only control 2.5% of shares.

Big difference I'd say.  This of course, ignores cronyism and such, which is a big deal.  

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