http://www.bnet.com/5799-14036-0.html?type=18 Blog Recent Discussion Activity http://industry.bnet.com/financial-services/10005097/underrated-sp-moodys-fitch-and-pimco/#18967_92067 To Asiafinancenews: Thanks for the tip.<br><br>To Lemmoth: I couldn't agree more. Mon, 23 Nov 2009 14:13:23 GMT http://industry.bnet.com/financial-services/10005097/underrated-sp-moodys-fitch-and-pimco/#18967_92067 2009-11-23T14:13:23Z http://industry.bnet.com/financial-services/10005097/underrated-sp-moodys-fitch-and-pimco/#18967_91939 Ok folks - time to tell Deloitte, PWC, E&Y amd KPMG that they need to get paid by the stockholders now and not by company management.<br><br>After all, we can't have our external auditors paid by those whose financials they review, right????<br><br>This conflict of interest canard is ridiculous. The larger financial problems are all abour psychology and market participants and bubbles and greed versus fear.<br><br>In 2004-2007 greed won big time and everyone on the chain performed in a way that was in the least unprofessional - mortgage seekers, mortgage brokers, investment banks, investors, regulators.<br><br>Rating agencies performed spectacularly well for the most part for 100 years (as did the auditors). They perform a great and independent service for investors by evaluating all types of debt instruments, with a forward looking view and with an independence to the volatile whims of markets.<br><br> Sun, 22 Nov 2009 00:10:00 GMT http://industry.bnet.com/financial-services/10005097/underrated-sp-moodys-fitch-and-pimco/#18967_91939 2009-11-22T00:10:00Z http://industry.bnet.com/financial-services/10005097/underrated-sp-moodys-fitch-and-pimco/#18967_91924 Ed Leefeldt may wish to to educate himself further regarding the commission of deliberate fraud by S&P, Moody's and Fitch:<br><br><a href="http://www.globalsecuritieswatch.org/EU_Consultation%20_Public_Comment_" target="_blank">http://www.globalsecuritieswatch.org/EU_Consultation%20_Public_Comment_</a>(Short_Version).pdf<br><br> Sat, 21 Nov 2009 23:05:38 GMT http://industry.bnet.com/financial-services/10005097/underrated-sp-moodys-fitch-and-pimco/#18967_91924 2009-11-21T23:05:38Z http://industry.bnet.com/financial-services/10005094/geithners-not-going/#18972_91935 This whole article is based on an illogical idiom: <br><br>?When nobody likes you, you must be doing a good job.? <br><br>(Tim is succeeding based on animosity from bankers, investors, and the people.)<br><br>Logically, if no one likes you, you're doing something wrong. This Author is struggling to come to terms with the idea that an appointed official may not be succeeding in his work. <br><br>Two necessary elements in discussing Geithner's performance are who he is working for and who will be effected by his policies: <br><br>1. Geithner is an appointed representative of the people of the United States of America and his job is to act in their best interest.<br><br>2. His policies will effect big and small government, big and small investors, big and small banks, big and small business, central bankers, and the people.<br><br>Thus far, the following have disapproved of his performance: small government, small investors, small bankers, small businesses and the people.<br><br>The following have approved: Central bankers, big banker, big businesses, big investors and big government.<br><br>Geithner has obviously failed as agent of the people. Instead, he has cow towed to corporate America, spawned big government, and worked to preserve the power of the central bank. <br><br>He has failed. Get over it Ed Leefeldt. Although, I do congratulate you for proving you are "hipster" enough to pose an opinion contrary to logical thinking. I also congratulate you for working your way into a position where you are compensated for puking up words and posting them online. <br><br>P.S. If you missed it Obama is now officially unpopular (gallup 49%) Sat, 21 Nov 2009 21:01:56 GMT http://industry.bnet.com/financial-services/10005094/geithners-not-going/#18972_91935 2009-11-21T21:01:56Z http://industry.bnet.com/financial-services/10005094/geithners-not-going/#18972_91930 GIETHNER SAID ALL MEASURES OF CONFIDENCE ARE UP???is he NUTS !!!!<br><br>AND BLAMING REPUBLICANS?? OK FACT TIME>>>>>>>>>>>>>>>>><br><br>HE WAS THE PRESIDENT OF THE NEW YORK FED FROM 2003-2009 WHICH MEANS HE WAS A VOTING MEMBER OF THE FOMC ( Federal Open Market Committee )<br>SO HE WAS A KEY PLAYER IN THE BUBBLE MAKING <br>HE VOTED FOR ALL THE RATE CUTS <br>HE IS GUILTY OF MAKING THIS HAPPEN !!!<br><br>ELECTION DAY IS COMING Sat, 21 Nov 2009 19:41:39 GMT http://industry.bnet.com/financial-services/10005094/geithners-not-going/#18972_91930 2009-11-21T19:41:39Z http://industry.bnet.com/financial-services/10005053/more-homeowners-face-mortgage-woes/#18942_91804 This is certainly bleak news. Just today I read on my senator's site that his answer to the jobs problem is the offer a 15 percent hiring credit, or increase wage credit. It would then be reduced in 2011 to a 10 percent credit for businesses that would hire or increase wages. This is the best solution??????<br><br>Having been a small business owner, the biggest drag on our business was energy costs, equipment purchases, and cost of raw materials. <br><br>I see that productivity increased in the US even during this crisis. So we can assume that reducing headcount and then asking those employed to step on the gas was what improved the bottom line. The only question really I have about that productivity is whether the pace is sustainable. <br><br>I read today that for the past decade that healthcare companies saw huge profits. Having worked in that industry as well as the tech industry, both with high margins, they certainly could trim the fat and not feel any pain. It is often a culture of extravagance. One tech company I worked for some years ago, built a state of the art kitchen/cafeteria, that had better food than local 4 star restaurants. They had china plate, stemware, and a bakery. The executive staff came in limos every day. Oh, I could write a book about all the perks I have seen in my life. <br><br>The simple truth about jobs is this. The threat of higher taxes, more government layers, increased health care costs per employee, the energy tax, union pressure, is why jobs creation is paralyzed. There can be no planning and as Clint Eastwood said, it seems everybody is depressed these days. Yup, we have been lied to for a very long time, and millions voted for change that now seems to want to put even more nails in the coffin by punishing those still with a job with the threat of my taxes to pay for those that exhibited bad behavior by overextending or frankly being lazy and refusing to work hard and get an education. We have a huge segment of our population that is unskilled labor, and since we longer longer manufacture how on earth will that group get a job that pays enough to get off government subsidies? Fri, 20 Nov 2009 22:37:20 GMT http://industry.bnet.com/financial-services/10005053/more-homeowners-face-mortgage-woes/#18942_91804 2009-11-20T22:37:20Z http://industry.bnet.com/financial-services/10004991/bove-is-wrong-to-ignore-human-vice-in-financial-crisis/#18885_91533 The curious thing is that Dick Bove has been an industry gadfly. He famously called the housing bubble a few years ago, and he has an admirable independent streak--this isn't a guy who fears ruffling the industry's feathers (plus, he has a fine record as a stock analyst).<br><br>Reasonable people can disagree on what caused the crisis. But arguments that greed isn't part of the problem, if not the main driver, just don't wash. As you suggest, even folks like Bove seem incapable of acknowledging that ethics is part of the story. That doesn't bode well for the future. <br><br> Thu, 19 Nov 2009 19:40:57 GMT http://industry.bnet.com/financial-services/10004991/bove-is-wrong-to-ignore-human-vice-in-financial-crisis/#18885_91533 2009-11-19T19:40:57Z http://industry.bnet.com/financial-services/10004990/state-farm-to-pay-more-than-300-million-to-texas-homeowners/#18883_91511 It's difficult to take an article seriously when you label Hutchinson a Democrat. She is and always has been a Republican and is running against Perry for the Republican nomination. Thu, 19 Nov 2009 17:14:44 GMT http://industry.bnet.com/financial-services/10004990/state-farm-to-pay-more-than-300-million-to-texas-homeowners/#18883_91511 2009-11-19T17:14:44Z http://industry.bnet.com/financial-services/10004998/whats-the-real-reason-for-goldmans-500-million-donation/#18887_91498 Considering a good part of that is lending - of which Goldman will make a healthy profit - this is really not enough. The backlash has been pretty bad, making it a step in the wrong direction PR-wise. Thu, 19 Nov 2009 16:58:14 GMT http://industry.bnet.com/financial-services/10004998/whats-the-real-reason-for-goldmans-500-million-donation/#18887_91498 2009-11-19T16:58:14Z http://industry.bnet.com/financial-services/10004991/bove-is-wrong-to-ignore-human-vice-in-financial-crisis/#18885_91491 Hahaha, can't believe that guy is really blaming everyone else except the banks. But what can you expect from a bank analyst that surely praised and encouraged the practices you just listed?<br><br>What this guy is saying is rubbish. Economies must adjust to the different movements of demand, yet here the whole financial sector (from the FED to the banks) were deceived by their profits and kept pushing the issue beyond the point of no return. <br><br>Here is one truth: With better men at the helm, this would not have happened.<br><br>And here is another: The CEOs of those companies that caused the crisis, and many of whom were bailed out of bankruptcy by the government, are listening idiots like this one and will end up believing it: 'We did nothing wrong, it were the others who couldn't keep pace. We must do as we did and stay the course'<br><br>Where will that lead? A second crisis, one where there will be no government bail outs to save their rears. And woe to the rest of the world, in the name of their profits. Thu, 19 Nov 2009 16:45:46 GMT http://industry.bnet.com/financial-services/10004991/bove-is-wrong-to-ignore-human-vice-in-financial-crisis/#18885_91491 2009-11-19T16:45:46Z http://industry.bnet.com/financial-services/10004926/obama-invites-chinese-banks-to-buy-american/#18840_91370 Wow, Americans have quite the double standard. It is OK for China to buy our debit and keep our country afloat, but it is not OK for them to invest in our companies?? Also, American banks have been investing and buying into Chinese bank for a decade. I think that in this global economy that it would be far to reciprocate and allow them to invest in our companies too. I am excited to see what the President will do in the next 3 years. This agreement is a step in the right direction. Wed, 18 Nov 2009 20:08:23 GMT http://industry.bnet.com/financial-services/10004926/obama-invites-chinese-banks-to-buy-american/#18840_91370 2009-11-18T20:08:23Z http://industry.bnet.com/financial-services/10004911/charlie-crist-enemy-of-insurers-sees-senate-bid-erode/#18709_91269 Good comment, Arthro. NY Times has similar story this week. -- Ed Leefeldt Wed, 18 Nov 2009 16:28:10 GMT http://industry.bnet.com/financial-services/10004911/charlie-crist-enemy-of-insurers-sees-senate-bid-erode/#18709_91269 2009-11-18T16:28:10Z http://industry.bnet.com/financial-services/10004926/obama-invites-chinese-banks-to-buy-american/#18840_91272 Here we go again Obama is trying very hard to give the ship away again!!! Giving Communist China a strangle hold on USA by bank ownership. Why not they already own the stock market. Does anyone know what he is trying to accomplish? Does he know? Why is there such an orgency to bankrup our economy? The only good thing about his administration is that his first year is almost up! God help us the next three years!!!!!!!!!!!!!!! Wed, 18 Nov 2009 15:45:55 GMT http://industry.bnet.com/financial-services/10004926/obama-invites-chinese-banks-to-buy-american/#18840_91272 2009-11-18T15:45:55Z