In case you missed it last night, set your DVR and watch the HBO movie, "Too Big To Fail". It is based on the Andrew Ross Sorkin book of the same name. I read the book when it came out two years ago and could not put it down. Like a lot of historical accounts, we all know the outcome but getting the behind the scenes look, gives us a better insight. Whether reading the book or watching the movie, it becomes quite clear that the arrogance and greed of the financial service industry leaders was the primary cause of the near collapse of our economy. They wanted everything for them and their companies and did not care about the rest of the country. The other note that is crystal clear, it could and probably will happen again. The paltry regulations that Congress put forth since will not prevent this. The greed has continued. The gambles that they take with our money continues. The knowledge that they will get a government bailout again drives Wall St. forward toward the cliff. We all know that they are making record profits and bonuses, while we have lost the values of our homes. We have lost the value in our retirement packages, that the average American has spent a lifetime trying to build and Wall St. sits back and reaps the rewards of mismanagement of their money. To sum up they get the bailout and we get screwed. Watch this movie or even better read the book. It will open your eyes even further to what we face in bringing America back to greatness.
Tuesday, May 24, 2011
Too Big To Fail? They Screwed Us Again and Nothing Changed!
In case you missed it last night, set your DVR and watch the HBO movie, "Too Big To Fail". It is based on the Andrew Ross Sorkin book of the same name. I read the book when it came out two years ago and could not put it down. Like a lot of historical accounts, we all know the outcome but getting the behind the scenes look, gives us a better insight. Whether reading the book or watching the movie, it becomes quite clear that the arrogance and greed of the financial service industry leaders was the primary cause of the near collapse of our economy. They wanted everything for them and their companies and did not care about the rest of the country. The other note that is crystal clear, it could and probably will happen again. The paltry regulations that Congress put forth since will not prevent this. The greed has continued. The gambles that they take with our money continues. The knowledge that they will get a government bailout again drives Wall St. forward toward the cliff. We all know that they are making record profits and bonuses, while we have lost the values of our homes. We have lost the value in our retirement packages, that the average American has spent a lifetime trying to build and Wall St. sits back and reaps the rewards of mismanagement of their money. To sum up they get the bailout and we get screwed. Watch this movie or even better read the book. It will open your eyes even further to what we face in bringing America back to greatness.
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