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Backlash Against Reckless Finance



October 25, 2009 – Comments (4)

It is about time some accountability was put back into the financial system.  What law makers were totally impotent in ability to do, it appears the courts are willing to do.  It appears the judge wiping out mortgage debt because the proof of a mortgage was lacking in big news in the blogs.

This is going to get really interesting as financial institutions have slaughter the real work force which is required to properly document things.  Something that always amazed me that I saw in my work history was lower paid workers were analysed to the hilt for efficiency of their work yet the overprice and over staffed top were so grossly inefficient.  The same 10 would all be analysing the same problem.  Those managers with the huge bonuses are practically useless in getting the real work done.

Let's see how well Citibank holds up with it beyond exuberance gains through this mess.

4 Comments – Post Your Own

#1) On October 25, 2009 at 1:25 PM, Teacherman1 (< 20) wrote:

Citi was a loser way before this crisis.

Ironically, I think the crisis is what is finally going to turn them around.

JMO and worth exactly what I am charging for it.

Have a nice weekend.

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#2) On October 25, 2009 at 1:58 PM, dwot (29.67) wrote:

Yeah Teacherman1, that penny stock status it went to is where it belongs...

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#3) On October 25, 2009 at 2:59 PM, Teacherman1 (< 20) wrote:

But it's not going to stay there. That is why I own it at $2.99.

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#4) On October 25, 2009 at 4:19 PM, Boum (< 20) wrote:

A tax "Tobin" is easy to do and will have better effect than every law. It's possible to finance a large part of bank rescue plan, and the short speculator will have to find a work who is more usfull for society...

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