Roughly half of the $700 billion bailout, Warren added, was “don’t ask, don’t tell money. We didn’t ask how they were going to spend it, and they didn’t tell how they were going to spend it.” Read the rest of this entry »
Roughly half of the $700 billion bailout, Warren added, was “don’t ask, don’t tell money. We didn’t ask how they were going to spend it, and they didn’t tell how they were going to spend it.” Read the rest of this entry »
One big question still remains, though. Here it is:
If I were Frank DiPascale, Jr., and I saw what was happening in the summer of 2008, I would have put aside perhaps ten or twenty million dollars very quietly and gotten the hell out of dodge. Read the rest of this entry »
One of my favorite bloggers, Joel Spolsky, wrote:
Many companies that have gone bust didn’t die because of the recession. They failed for one reason: They treated customers poorly
Read the rest of this entry »
In the comments following this article, I found this little quote, which says what I was trying to say a few days ago, but more concisely.
The root cause of the world economic collapse was a socioethical malaise rooted in greed. Now it appears that this wasn’t limited to the financial sector.
via Elsevier published 6 fake journals :The Scientist [7th May 2009].
We’re starting to see rumblings of the cascade failure I wrote about previously.
Suppliers may go bankrupt because of the bankruptcy filings above. Suppliers may hold off on shipping parts without assurances they aren’t going to lose money in the bankruptcy. Either action idles assembly plants, cutting off the cash flow the car company needs to emerge from bankruptcy.