It turns out AIG gave $1 Million plus bonuses to more than 70 upper management employees while they were getting the first installment of billions in Bail Out bucks from us taxpayers.
 
Check out this article and be prepared to get really mad.
 
Other AIG News Links:
National Review
Yahoo Finance
MSNBC Business
 

So we gave billions of dollars to AIG and now they're doling out $165 Million in bonuses to their already overpaid executives, and the Obama administration says they can't do anything about it? Give me a friggin break. I voted for Obama and now I'm less than impressed by his administration's true intent when it comes to working with the powers that be on Wall Street. I'm starting to think he's a plant of some kind and I'm sorry to admit it since I voted for him.
 

Suddenly the big banks are claiming a profit, but they've made this money on the backs of the American taxpayer. If they took billions of dollars in January, then how could they claim a profit in March? 
 

It was reported today that Bernie Madoff pleaded guilty and was remanded to jail awaiting a June sentencing. He could be facing up to 150 years in federal prison, but most insiders doubt he'll get such a sentence even though many believe he deserves it. 
 
Finally, one of the worst examples of human greed will pay for his crimes, but is it enough, or is it too little - too late? Madoff's 20 year Ponzi scheme screwed thousands of people from all walks of life out of their financial futures. I personally hope this creep fries for life because he should be made an example of in the new 21st Century economy. 
 
Here's a video that may be funny, but it's also true. God help us from being screwed by all the other Madoffs out there....and may Bernie Rot In Hell!
 

 

Poor babies. The United Auto Workers union (UAW) has fought to keep productions workers at the $70 per hour mark including (benefits & pay), but finally they've decided to suck it up and play fair. Lets face it, $70 an hour (even if benefits are 40% of your pay), means you're still making $87,000 a year. Not bad Huh? Especially in Detroit where houses are selling for less than $10,000 and most people don't even have jobs. The UAW and its' members should be thankful they're making alot more than most of us. Maybe the price of cars will come down soon and Americans can start spending again. Good for you FORD! Maybe I'll buy one of your cars now.
 
Ford-UAW deal cuts wages to $55 an hour (Reuters) - Reuters - Ford Motor Co expects operating savings of $500 million per year from an agreement with the United Auto Workers that also will make its labor costs competitive with Japanese rivals, the company said on Wednesday. [Business]
 

CSPAN video of Democratic Congressman Gary Ackerman scolding American CEOs over the wasting of government bailouts. Now this is a congressman I can get behind. Go Gary Go! It's time to hold these idiots responsible for their greedy ways. 

   
Check out this story about a CEO in Japan who really seems to get it. Our greedy American CEOs could take a lesson from this guy, and if they did they might actually create profits and jobs instead of losing them. It's all about corporate responsibility in these tough economic times when we should all be pulling together.
 

If you don't know what Twitter is yet, where have you been hiding? Seems like everyone who's anyone is Tweeting on Twitter these days including: celebrities, politicians and people from all walks of life. In fact, President Obama's rival John McCain posted this Tweet directly to the president this morning, "No time is better than the present to undertake earmark reform Mr. President".
 

David Shuster sat in for Keith Olbermann on MSNBC's Countdown show this evening with a very interesting Howard Stern reference. Shuster shouted, "Baba Booey" three times in a story about the anniversary of the first phone call by Alexander Graham Bell to his assistant Thomas Watson in 1876. 
 

With unemployment going up practically everyday, more people are considering entrepreneurial ventures. There are lots of opportunities out there if you know where to look, but don't expect the banks or the small business administration to help you out. Banks may be rallying on Wall Street today, but it's all smoke and mirrors in my opinion. Banks still won't lend money to average people looking to expand their financial horizons.