Too Big to Fail – Too Dumb to Succeed

It’s incredible that huge corporations like Enron, AIG, etc etc etc etc could fail so spectacularly that they need bailing out, right? On the other hand it’s very OBVIOUS why they failed – they were grossly mismanaged, must have been operating on completely erroneous economic principles, and had been encouraged to ignore all the common sense rules of operation the owner of my local noodle bar (who has not been to Harvard) practices as a matter of survival necessity. Therefore you’d be really interested in what the guy who won a Nobel Prize for Economics has to say: http://www.bloomberg.com/apps/news?pid=20601103&sid=a2aNOdTIAtLc Here . . . → Read More: Too Big to Fail – Too Dumb to Succeed

AIG Bailout – Round and round the money goes….

I was reading this article here about AIG receiving about U.S$ 170 Billion and how they paid most of it to other banks that themselves had been on the receiving end of U.S. Govt. bailout funds. Does NOBODY else think that there is something logically wrong with all of this bailout crap? Then I received this story from a friend…seems appropriate to the times. The Economic smoke-and-mirrors explained: Young Chuck in Montana bought a horse from a farmer for $100. The farmer agreed to deliver the horse the next day. The next day the farmer drove up and said, “Sorry . . . → Read More: AIG Bailout – Round and round the money goes….