[excon]

Hello:

In 1923, Who Was:

1. President of the largest steel company?

2. President of the largest gas company?

3. President of the New York Stock Exchange?

4. Greatest wheat speculator?

5. President of the Bank of International Settlement?

6. Great Bear of Wall Street?

These men were considered to be some of the worlds most successful in their day. Now, 80 years later, history asks if we know what ultimately became of them.

The Answers:

1. The president of the largest steel company, Charles Schwab, died a pauper.

2. The president of the largest gas company, Edward Hopson, went insane.

3. The president of the NYSE, Richard Whitney, was released from prison to die at home.

4. The greatest wheat speculator, Arthur Cooger, died abroad, penniless.

5. The president of the Bank of International Settlement, shot himself.

6. The Great Bear of Wall Street, Cosabee Livermore, also committed suicide.

However, in that same year, 1923, the PGA Champion and the winner of the most important golf tournament, the US Open, was Gene Sarazen. What became of him?

He played golf until he was 92 and died in 1999 at the age of 95. He was financially secure at the time of his death.

The Moral? Screw work. Play golf.

excon

[twinkiedooter]

Excon dearie, I can hardly wait until the history books concur with what happened to the swell folks in 2008 and 2009 and what became of them after they swindled the US out of zillions of dollars.

Have you heard the latest news that the goons in charge refuses to disclose how the banking bailout money was distributed to who and how much? Gee, I guess this is NOT our business to know, just our business to give, give, give till it hurts.

[excon]

Have you heard the latest news that the goons in charge refuses to disclose how the banking bailout money was distributed to who and how much?

Mornin, twink:

Yeah, but it was only the FIRST $350 billion that they can't account for... Maybe they'll do better with the SECOND $350 billion.

Bwa, ha ha ha. ---- Hold on, twink. What am I laughing for? The joke is on us.

excon

[twinkiedooter]

Well, for a second there I was worried. It was only the First $350 billion. Phew, for a second there I thought the populace was in trouble.

I read an article that said that the carmakers needed car buyers not a bailout. I kind of agree there, but who the blue blazes can afford a $20,000 car?? If they would make the cars sensibly priced at less than $10,000 maybe Detroit would not be in the trouble they are in now. But, hey, let's throw some Billions their way as they sure can use, need, squander, (insert whatever word you wish here) and not have to worry about them as they will just close their doors anyway after lining their pockets with more dough.

I feel that the Wall Street Bailout Scam was a real racket payback. Get rich before Shrub leaves. Supposedly the banks needed money for loans. Yeah, right. Right now you can't get a loan if you have a score under 700. What for bank heist did we have perpetrated on us? The best scam money can buy. That's what kind.

[excon]

Hello again, twink:

Since around the time of Nixon, we've developed a two tiered justice system. If ordinary citizens come up against the legal system, they're going to have the full weight of the government brought upon them, and it ain't going to be pretty...

But, if you're one of the powerful, you don't get charged. In fact, you get rewarded.

The rule of law is the lynchpin of our Democracy. If this two tiered system of justice is allowed to continue, we're toast.

It's a change I believe Obama will make.

But, he's going to have to let all the pot smokers out of the federal joint to make room for all the politicians, the hedge fund managers, the neocon torturers who destroyed our core values (not to mention the Constitution), and the people who illegally spied on us.

excon

[Galveston1]

Twinkie, the automakers problem is not lack of customers. GM and Toyota sold almost identically the same numbers of vehicles last year. Toyota made billions, and GM lost even more billions.

And I agree with Ex on the point that what appears as success may not be real in the long run.

[TexasParent]

I have owned a number of new GM cars; and all without exception had problems when they were new, and the Used GM cars I bought had a very short life as problems kept cropping up around 60,000 miles and after; convienently after the warranty ran out. And don't even start with me on warranty coverage. Simply, the cars don't last.

I have bought Honda, VW, Mazda and Toyota (my current car) and have been happy with each one. The interiors don't look cheap from the get go and the materials and finishing don't look like a they misfit. I've never had a 'foreign' car which I had to take in for warranty service and each car lasted without problems for me upwards and beyond 150,000 miles. Now that's value.

In fact, when I was shopping for cars their was always a GM equivalent in the same class; and less expensive in most cases, but for the few thousand I might have saved up front with a GM car, I knew I would be paying in time, agravation, and tons of cash down the road.

Furthermore, the styling of GM cars is hardly unique, more often than not it is a copy of a foreign brand with corners cut; like the consumer wouldn't notice.

The fact is leadership at GM has to change, they need a new culture. They certainly have the sales numbers; if they could get through this downturn and modernize, change their benefits packages for new workers, replace management, and finally give the consumer the quality in the product we think we are paying for, then they may have a chance.

As for all those that fraudulently profited on Wall St. sadly I think they have squirreled away their share in overseas bank accounts or overseas investments; I don't think many will die penniless.

It does blow my mind that often the guy that steals a case of beer from a convienence store will get more time than someone that steals hundreds of millions of dollars.

Speaking of money, don't you ever wonder about this war on terror and where the money for the terrorist operations come from? I mean, the kids or misquided young adults that blow themselves up are really just cannon fodder for those with the funding and the weapons above them. Why don't we make an international law that says, if it is proven in international court that you have funded terrorism or have supplied weapons you will be killed by any special forces team from any country.

Why is it that we never go after the money and hold those people responsible?

As for Golf, I couldn't make a living doing it; however I might get by caddying for Tiger Woods; does he need a new caddy?

[twinkiedooter]

Texas - I agree about the needless/unnecessary wars that America is fighting right now. Just where is the billions per month going? Certainly NOT to the troops as they have the equivalent of "hand me down" equipment and "used inedible spoiled" meals (from Haliburton) and nonexistent extra pairs of combat boots (that they must personally buy themselves as Uncle Sam only provides ONE pair of boots per customer now). I think that we need to stop the overseas madness and the unnecessary wars and the hemorrage of money every month to WHERE? Apparently there are no terrorists in Nigeria, Somalia, or the Congo as they don't miraculously have any oil... coincidence? Nah, don't worry about it.

[tomder55]

I wonder if Bernard Madoff's Ponzi Scheme will be remembered by history or will be just a blip ? His swindel was far worse and to a much larger degree than anything Ken Lay did . It is bigger than WorldCom, bigger than Boesky and bigger than Tyco. But still it doesn't match the Ponzi Scheme called Social Security .

(I'll wait while you Google his name)