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Speaking of parasites…Wall Street bank bonuses will reportedly be down 20 to 30 percent this year. CNBC’s Gary Kaminsky argues they should be down even more given the poor performance of the stocks. Here is the direct link.
I am not much enamoured by any of the Republican candidates to date. At this rate, we may see Obama rewarded with a second term not by merit but simply by default. Frontrunner Romney strikes me as cheesy at least. But they all seem to have some questionable deals in their past. Huntsman seems to be the cleanest. Sadly, and perhaps because he has had less questionable deals, he is also broke compared to the other candidates. Broke don’t win American elections–the classic conundrum.
Gingrich seems to be the most intelligent–at least he comes across as the most pragmatic thinker in the debates to date. I think this interview makes some good points about the distinction between capitalism where the entrepreneurs take personal risk to build value that leaves companies, customers and workers better off through their efforts, and the repugnant gouging-out-of-value-for-a-few who venture little and take all, leaving bankruptcy and loss in their wake. Make no mistake, valuable franchises and strong economies are built by the former not the latter. The government bailouts over the past few years have wasted a ton of tax payer debt by back stopping weak, gouge-out leaders. Hence the economy flounders while a few take even more and give nothing. We have to wise up. Not all ‘rich’ people are created equal.
Watch the clip here: Newt Gingrich on Romney
