As the greatest bank of Silicon Valley, where all the world’s smartest people live, is bailed out using taxpayer money (sorry, Fed, read along!), there could be a few interesting questions to ask:
- Did the super smart “guys,” running this bank knew much about risk management?
- If the executives cleaned out their stock and options before the company they “ran,” went bust, is ok, legally, ethically and morally?
- Although the grandest business schools of the country have a large number of “ethics,” classes, why do they still create criminals? Or is it the content of these courses?
- Are the Agents of a firm accountable to the principals or their smooshing ability is good enough to steal money from others?
- Shouldn’t all the other banks sitting on nearly a trillion $ in unrealized gains start paying the executives bonuses and go bankrupt? Isn’t that what the “shareholders,” want?
As the billionaire from Texas “urges the Fed to do the right thing,” so that the brilliant guy could be made whole, it is important to realize that we have done this before. The Yeller from the Fed stood her ground for a good 48 hours and then broke down for the billionaires from the valley had to be made whole. She says it is from the insurance fund, really?
Yell all you want. The TARP is coming to cover the bonuses of bank executives. The most corrupt system in the World fails again. If you make less than 40K a year, you will pay and others will take your money.
Make America Great Again, Fed.