Thursday, January 22, 2009

No Confidence No Leadership No Buyers

We are off to a blazing start as the man who will be treasury secretary and whose duties include being grand wizard if the IRS doesn't pay his own taxes. Is he sorry or just sorry that he got caught? True change you can count on. Another suit who feels he is Teflon and above the fray. Would we overlook a small business owner who hasn't paid his taxes in four years? He claims he doesn't understand how do effectively complete a tax return. Go get em Biff, now get out there and oversee the biggest economy in the world. Hope he pays all penalties and interest. Enough said.

John Thaine is gone, but before he left, he bought a $35,000 commode for his office and spent over a $1 million of shareholders money on decorating his office while he hung his traders from the rafters. From Goldman to NYSE to Merrill to BAC to where? Hope he at least had the courtesy to clean the commode before the door hit him in the ass. Good riddance. I compare a good CEO to a fundamentally sound quarterback in football, just "don't lose the game". So many of these guys were thrown into sweet situations and all they had to do was not lose the game. The stage was set. They still found a way.

I'll be back in a bit.


Andrew Finkle said...

So true - as much as his confirmation an equal slap in us HONEST taxpayers face's is the fact that he paid ZERO in penalties...just interest.

His nomination WREAKS of more of the much for hope and "change"

JakeGint said...

Nice rant. Agreed all around.

Thain for Asshat of the Year.

Jonny said...

That's right about a good CEO being like a QB whose job it is not to F things up. The trouble is that too may CEO's have spent too long reading all that shit you can buy at the airport about 'vision' and 'synergy' and all that crap so they actually think they're supposed to do something once they get the keys to the corner office. That's when the real trouble usually starts.

If I was Obama I'd immediately lay down a law against the publishing of self-help and business related self-help books. People need to hear less about how fucking great they are and how if they do it from the right place then it can't be wrong etc and start actually looking in the mirror with a sane and sensible degree of rational honesty.

If we could do this as a nation, we'd improve things vastly over night.

Meanwhile, I got FAZ'd in the ass this week. If my wife knew the shit I'm holding right now, I'd be sleeping in the car. Seriously. But what can a guy do? Just gotta weather this storm. Made two bad buys and now regretting it all the way to the poor house.

I wish we'd just get the theater of a collapse to 6,000/suspended trading etc over with and let us all get back on with our lives.

About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.