France threatens a G-20 walkout

[bumper]

http://www.bloomberg.com/apps/news?pid= ... refer=home

G-20 came to an agreement:

[WBU ALUM]

I was somewhat optimistic about the agreement until I read in a CNBC online article that the agreement will also determine bonuses for companies. The article didn't go into detail about that control, but now that information has been omitted from the article completely.

G20 Rescue Plan Is No Silver Bullet for World Economy

Anytime governments are trying to control payrolls and bonuses of private companies, I am hesitant to agree. If that control is only for companies that receive bailouts (which I am totally against), then I can understand the need to set some ceilings when spending the people's tax money. However, I'm a bit weary of Congress approving of such compensation and then acting shocked when the public becomes outraged.

[bumper]

Even as the speeches were being given they didn't offer up a silver bullet, just a hope of lessing the time of the recession. You know I coudl see a possibilty of recovering ome monies on these properties if they would apply that to the costs it would be great. Bu I'm no betin on it. Same thing with the other bailouts. Obviously any money spent on the Auto industries would appear to be a total loss at this time.

Yuo know something happened years agao with the PERS retiremtn system Pete Wilson tapped into it to bail out the state in a recession. Suit was filed and the state lost. Arnie would be in there getting that money right now if he could. That turned out to be a fair deal we got our money back plus interest, the state ate the court cost. So in the end no harm somehow I don't see that happening now/

But the truth is five years from now some of this money could be recovered, I doubt they will do it though. Now that is sad I kind of like being paid back when I loan money. Now it is to be charity well I like to make those decesions myself.

Thsi has ben an inerstin situation I can still recall people saying Americans deserve it, waht they didnlt know was their own system weer up to their neck in it as well. We wanted a trade system around the world. We got it we got benefits but there were pitfalls as well.

So what we knew as free enteprise wihin our own countries has really became a thing of the past, remebe all he talk abiou decoupling didn't happen and probably never will again. In the end we proabaly do need a different system of check and balances simply because buisness has changed so much.

But yuor right it could have all been avoided if people had just done their jobs in each country. But that didn't happen this was all greed driven, a popular as it sounds sorry I wasn't just the states. I hope that was realized. most of the countries hav their own skeltons in the closets. Don't remenber to may people complaing when tha money was going into their pockets they didn't seem to care if it was based on real assests then.

Different attitude today when the money is coming out of their pockets instead, now they want real assets. Too Late

Still angers me that when this guys were making all this money no one of them said hey go it here have a bit of the cake. No cake now my family to has to pay for what didn't get nor were never offered. Yep that really ticks me off.

So lets hope l the lesson was really learned and this is just lip serice to be forgotten when the recovery does come. The reality there are people right now trying to figure out how to beat the system and the body isn't even cold yet.

[bumper]

This guy says Obama is right guess we will find out

http://www.bloomberg.com/apps/news?pid= ... refer=home

[WBU ALUM]

Sarkozy: Capitalism Is Not The Problem

This sounds odd coming from the socialist French even though Sarkozy is conservative in his views.

Funny. I never hear the US president doing anything but talking down free enterprise and elevating government control and takeovers.

One approach that is not getting global approval in this financial crisis is the Obama administration's call for a global New Deal and with it increased deficit spending by governments the globe over.

The leaders of Spain and Germany this past weekend rejected the ethics of that approach.

Domestic criticism of that approach is growing as well in the U.S. President Obama's spending plan would drive up the annual cost of government in 10 years to $32,000 for every household in America, according to a report from the Heritage Foundation.

The government expansion would more than double America's national debt to $12.5 trillion, despite higher taxes, the report states.

[bumper]

Sounds to in the end Sarkozy, was trying to make sure he got relected. Seems his countrymen think he is bed with the banks. Life Huh?