Barron – President Obama took credit Wednesday for the recovery in the financial markets while at the same time decrying Wall Street’s profits and the big bonuses that will be paid out as a result.

In his prime-time news conference, Obama said that if shaming those on Wall Street who take home multi-billion-dollar bonuses doesn’t work, he vowed to make sure shareholders of those companies were made aware of the compensation being doled out.

In the absence of "remorse" of Wall Streeters for raking in big paychecks once again, the president said financial regulatory reform would be necessary to prevent banks from taking risks that he said caused the financial crisis necessitating government bailouts.

Read Complete Article

Tags: absence, banks, barron, dollar bonuses, financial crisis, financial-markets, news-conference, obama, paychecks, prime time, profits, regulatory reform, remorse, shareholders, time news, wall street, wall streeters

Given the string of problems created by hedge funds, derivatives, investment funds, insurance companies, pension funds, mortgage securities and hairy bank loans over these few years, it is becoming increasingly apparent that high flying investment managers and financial whiz kids are not as great as they seem in spite of their insistence in paying themselves billion dollar bonuses.

As if these were not enough, Gordon Brown the architect of the British economic miracle of the Blair years is now thinking of printing money – ₤150 billion worth. This sort of makes him roughly equivalent in competence to the whole Japanese Occupation Government in Malaya from 1942 – 1945.

Read Complete Article

Tags: bank-loans, competence, derivatives, dollar bonuses, economic miracle, financial whiz, gordon-brown, hairy bank, insistence, insurance-companies, investment managers, investment-funds, japanese occupation, malaya, mortgage securities, pension-funds, printing money, spite, whiz kids