US Companies Financial Meltdown - Capitalism at its best?

Game Theory

JF-Expert Member
Sep 5, 2006
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how many hours before ika collapse
r-LEHMAN-BROTHERS-large.jpg

kisha collapse hiyo kaeni staby before zingine zikaanza kuanguka

na jana bosi wa British Airways alisema kuwa kuna mashirika kama 50 hivi ya ndege dizaini ya XL zitacollapse kabla mwaka haujaisha

Capitalism at its best?
 
Game Theory,

It is interesting to see in USA the Motherland of all Capitalism that the Fedral Government is nationalising the failing private entities!

Lehman Brothers,FreddieMac, FannieMae, Bear Sterns, IndyMac and now I hear a bail out for the Big Detroit companies, FORD, GM and others!

Yes it is capitalism at its best, greedy has resulted in overfeeding and everything is stretched to the maximum for the sake of profit and everyone becomes reckless!
 
Game Theory,

It is interesting to see in USA the Motherland of all Capitalism that the Fedral Government is nationalising the failing private entities!

Lehman Brothers,FreddieMac, FannieMae, Bear Sterns, IndyMac and now I hear a bail out for the Big Detroit companies, FORD, GM and others!

Yes it is capitalism at its best, greedy has resulted in overfeeding and everything is stretched to the maximum for the sake of profit and everyone becomes reckless!


KISHOKA,
If Lehman is not bought, stock goes under $1 Monday and Tuesday all firms pull the credit lines. Lehman is gone. All of their $475 billion in credit default swaps, etc. is gone as well. All of their counterparties will have to write down the value of their respective CDS positions.


Further, liquidation of $600 billion portfolio (assets) will bring market to total freeze, and when all done, “may be” $.50 on $1 will be recovered. Which means on liabilities' side ($613 billion), their lenders are looking for another $300 billion write down on their assets.


Next up (well, next week is more like it), WAMU and AIG, both will be gone. AIG holds $1 trillion in assets, WAMU holds close to $150 billion in customer deposits and over $200 billion in assets. Any investment bank, Goldman included, that thinks they can sit this one out is either delusional, or stupid, or both.

Since i failed in my job interview with GS i have never been a fan

always wanted to work for that bank but there you go...maybe i wasnt Jewish enough
 
KISHOKA,
If Lehman is not bought, stock goes under $1 Monday and Tuesday all firms pull the credit lines. Lehman is gone. All of their $475 billion in credit default swaps, etc. is gone as well. All of their counterparties will have to write down the value of their respective CDS positions.


Further, liquidation of $600 billion portfolio (assets) will bring market to total freeze, and when all done, “may be” $.50 on $1 will be recovered. Which means on liabilities' side ($613 billion), their lenders are looking for another $300 billion write down on their assets.


Next up (well, next week is more like it), WAMU and AIG, both will be gone. AIG holds $1 trillion in assets, WAMU holds close to $150 billion in customer deposits and over $200 billion in assets. Any investment bank, Goldman included, that thinks they can sit this one out is either delusional, or stupid, or both.

Since i failed in my job interview with GS i have never been a fan

always wanted to work for that bank but there you go...maybe i wasnt Jewish enough

Game,

Ni ulaafi tuu, yes, nimesikia kuhusu WAMU ambayo ilianza kuchechemea miezi kama 7 iliyopita wakati Countrywide walipobwaga manyanga na BoA wakawanunua!

Usishangae Watanzania kunyimwa mishahara mipya na kisingizio kikawa ni Lehman Bros!
 
on the same subject...The Financial Times la jana had more more on the emergency discussions in New York under this header:
Wall Street firms could buy Lehman ‘bad bank'
Wall Street firms would buy the $30bn-plus of property assets held in Lehman Brothers' "bad bank" in order to facilitate a rescue takeover for the embattled financial group, under one of the options being discussed by industry executives and regulators.

Financial chiefs have so far expressed reluctance to back the plan but remained locked in discussions with Treasury and Federal Reserve officials in New York Saturday in an effort to solve the crisis at Lehman before the markets open on Monday ...

This apparently is just one option being discussed. There is much more in the article ...

source:
FT.com / In depth - Race to save Lehman Brothers continues

I predict evil GS may be already planning ways to make money of REI global...what do you think Kishoka?
 
Game,

Ni ulaafi tuu, yes, nimesikia kuhusu WAMU ambayo ilianza kuchechemea miezi kama 7 iliyopita wakati Countrywide walipobwaga manyanga na BoA wakawanunua!

Usishangae Watanzania kunyimwa mishahara mipya na kisingizio kikawa ni Lehman Bros!

slavery is freedom
war is peace
stupidity is genius

insolvency is solvency

tusubiri Manchester United watakapo vaa jezi kama wenzao WESTHAM jana bila sponsor...
article-1055586-02A4407900000578-915_468x539.jpg


looks like AIG nayo iko ukingoni au sisi waswahili tunaita magharibi...

article-1055432-027F741D00000578-985_468x286.jpg
 
on the same subject...The Financial Times la jana had more more on the emergency discussions in New York under this header:
Wall Street firms could buy Lehman ‘bad bank’


This apparently is just one option being discussed. There is much more in the article ...

source:
FT.com / In depth - Race to save Lehman Brothers continues

I predict evil GS may be already planning ways to make money of REI global...what do you think Kishoka?

Utawasikia Carlyle Group au Blackwell waikiweka mikono yao kutumia wale ma-lobbyst na kuinunua kwa kutumia private equity!

Unajua Ufisadi wa Marekani hauna tofauti na wa Tanzania! Angalia Exxon wamepata double digit percentage profit, lakini 6 years ago Enron sank like Titanic.

Sasa unasikia kuwa chief transition commander wa Babu yake Nyani McCain ni Chief Lobbyst wa American Petroleum Organization!

We will learn a lot this year, hopefully in Tanzania they are awake!
 
On GS, nina mshikaji wangu nilifanya kazi naye about 8 years ago, alikuwa ni Mchumi PHD kutoka MIT, mwanafunzi wa Jeffrey Sachs akaenda NY kwa interview GS, akagonga mwamba. Sasa hivi ni chief economic commentary wa CME!

He never liked GS baada ya kunyimwa kazi, and he is a Myahudi!
 
Utawasikia Carlyle Group au Blackwell waikiweka mikono yao kutumia wale ma-lobbyst na kuinunua kwa kutumia private equity!

Unajua Ufisadi wa Marekani hauna tofauti na wa Tanzania! Angalia Exxon wamepata double digit percentage profit, lakini 6 years ago Enron sank like Titanic.

Sasa unasikia kuwa chief transition commander wa Babu yake Nyani McCain ni Chief Lobbyst wa American Petroleum Organization!

We will learn a lot this year, hopefully in Tanzania they are awake!


If Lehman liquidates, WAMU goes down, Venezuela nationalizes fuel supplies, and Iraq walks from western companies and signs with China, all in a week's time, it's gonna be a pretty jumpin party on Wall St....

On the subject of Carlyle Group...wasn't Carlyle suppose to pick up the $45 billion in mortgages that Citigroup wanted to sell?

This says alot about U.S education isnt it? hawa wanaojifanya wamesoma sana have been at the cornerstone of the failing US economy that is failing all around kisa na mkasa tunaambiwa kuwa uchumi unaendeshwa na BEST and BRIGHTEST graduates of American top Ivy league (and others) business schools.


Take it from me bro, apparently earning a MBA from Harvard,Yale, Princeton, etc requires students to learn how to lie and steal their way to bilions in annual compensation and laugh at the little guy while being chauffered "all the way to the bank." kama alivyosema 50 cent! yes and their pockets are well lined... property in Bolivia, and elsewhere, secured... accounts in Switzerland (and the Cayman Islands, etc.) free from any oversight or regulation...halafu eti akina Hosea na JK wanasema wanaweza kupata pesa zaote za rushwa!!!!
 
On GS, nina mshikaji wangu nilifanya kazi naye about 8 years ago, alikuwa ni Mchumi PHD kutoka MIT, mwanafunzi wa Jeffrey Sachs akaenda NY kwa interview GS, akagonga mwamba. Sasa hivi ni chief economic commentary wa CME!

He never liked GS baada ya kunyimwa kazi, and he is a Myahudi!

speaking of GS...hivi ulishaitazama ile movie ya Tom Hanks ya Bonfires of the Vanities?..well the book was much better...another interesting read hapa:


Masters of the Universe still run New York



Sunday December 16, 2007
The Observer

Robert Thompson remembers vividly what happened when he opened The Bonfire of the Vanities, the chronicle of Eighties New York that captured the city as a decaying cauldron of racial and social division, poised to boil over into disaster.

'I just sat down and kept on reading. I didn't get up until I had finished. He captured that moment of time so well,' said Thompson, professor of popular culture at Syracuse University.


Thompson was not alone. Twenty years ago this month Tom Wolfe's novel hit American bookstores and became both a literary sensation and a cultural landmark. It was a tale of how a wrong turning in the Bronx plunged rich white banker Sherman McCoy into a maelstrom of racial strife and skulduggery.

It portrayed a city on the brink of collapse, with a white upper crust of bankers - the so-called Masters of the Universe - partying in penthouses as the rest of New York's inhabitants, often black, struggled against a tidal wave of crime and unemployment and were exploited by a ruthless political class.
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The book cemented a worldwide image of New York as mad, bad and dangerous. Now, as the city marks two decades since Wolfe's seminal tome first appeared, New Yorkers are living in a city that has changed beyond all recognition. Instead of sinking into decay, New York has rebounded beyond all expectations. A high-profile battle against crime has made it the safest large city in America. A wave of gentrification has washed over a city where once notorious neighbourhoods such as Harlem and even the South Bronx (now SoBro in estate agent slang) are the hot property markets. House prices have soared. New shops and restaurants open every day. Its streets are safe. But the transformation has left many New Yorkers wondering what they have lost.
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Wolfe chose New York because it said something about America. Now many are wondering if the safer, cleaner, richer city has not also lost its role as the heartbeat of American culture.

Wolfe thinks so: his latest book tackling the modern American zeitgeist is set in Miami. 'New York, while it is flourishing, has become a less interesting place. It is not where America is changing any more,' said Brian Abel Regan, author of Tom Wolfe: A Critical Companion
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Goldman Sachs offices at the Fraumünsterplatz in Zürich (the light-colored building on the left)

The 'new' New York is everywhere. Photographer Maggie Wrigley sees it from her apartment in a far-flung part of the East Village. She arrived in 1984 - as Wolfe was researching his book - and lived in a squat in an area riddled with drugs, gangs and penniless artists like herself. Two decades later she is in the same apartment but the neighbourhood has completely changed.

Now the East Village is populated by young people fresh out of college and taking up jobs in the burgeoning financial sector. Apartment rents have sky-rocketed, pushing out the poor, the working class and families. Even the infamous Bowery - America's original Skid Row - which bisects the Village is now lined with expensive clubs and cocktail bars. The Bowery Hotel has just opened, offering rooms for $550 a night on a street once populated by flop-houses for the city's down and outs. 'There is no place for those without money. Everything is being eaten by the real estate market,' Wrigley said.
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Abandoned buildings that no one wanted decayed or became crack dens in the Eighties. The real estate boom changed all that, creating a spiralling market that seems immune from the house price collapse in the rest of America. The trend began downtown in warehouse areas such as SoHo and Tribeca, then spread north gentrifying the Village, then Chelsea, then Hell's Kitchen and out of Manhattan into Brooklyn and beyond. New York's tourist board has opened a new office in Harlem. It touts cultural tours, food tours and music tours. It is a long way from The Bonfire of the Vanities where racial divisions and street crime would have made a tour of Harlem unthinkable. 'There is not that fear any more at all' said Chris Heywood, of NYC & Company. Racial divides are coming down.

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In The Bonfire of the Vanities the character of the Reverend Bacon exploits the hit-and-run accident, fanning racial flames for political gain. It was suspected to be inspired by the real-life figure of the Reverend Al Sharpton, based in Harlem, who was then a prominent activist. Sharpton is still there but he is a marginal figure. Last week his offices were raided on suspicion of tax evasion. The main tabloid news story in New York last week was of a heroic young Muslim who came to the aid of a Jewish couple being beaten on the subway by white teenagers.

The murder rate is the lowest since 1963. It is now one a day, down from a high of six a day in 1990. Dubbed the 'Manhattan Murder Mystery' by sociologists, no one is sure why it has fallen. 'New York was more artistic and more interesting back then. But no one wanted to feel threatened,' said Wrigley.
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For those in search of ethnic diversity, the far northern reaches of Manhattan host a huge Hispanic population where Spanish is the language of the streets. Chinatown has boomed. In Queens, far from Manhattan's main drags, more languages are spoken in a smaller area than practically anywhere else on earth.

The crime, poverty and racial problems that marked the Eighties are clearly not only a thing of the past. Instead they have merely been pushed out of the city's core. In the outer boroughs they still persist, in the huge projects that dot Brooklyn and the Bronx and rarely get much attention from the mainstream media.

Shocking cases of police brutality still regularly occur. This year alone has seen the case of Sean Bell, a black man shot dead by police on his stag night. Bell had done nothing wrong but undercover cops mistook him for a drug dealer and he died in a hail of more than 50 bullets. There was also the death of Kheil Coppin, a mentally ill young black teenager who brandished a hairbrush at police. He was shot eight times.

Then there are the startling statistics over police stop-and-search tactics. In 2006 police stopped half a million New Yorkers, 89 per cent of whom were non-white. Fifty-five per cent of them were black, double the percentage of the black population. Police also use force on black people 50 per cent more than on white people, despite the fact that police find guns, drugs or stolen property on white people twice as often as on black people. The lack of street outrage in the 2000s compared with the Eighties does not always reflect a lack of racism; it reflects a lack of power.


So the picture emerging two decades after Wolfe's book is one he would both recognise and find strange - a New York that still thrives and still matters. It is still a place where the very rich live in the same town as the very poor and where racial disputes linger, where grafters of all kinds wheel and deal in dirty politics and tabloid newspapers can inflame a story. It is still a place where artists struggle and sometimes succeed. 'It is still the greatest city on earth,' said Wrigley.
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But it has become richer, safer, less individual and more suburban: more like the rest of America. Daniel Czitrom sees that. He was born in the Bronx and is now an expert on the city's history at Mount Holyoke College. He left in the early Eighties and has witnessed the transformation of the city from his old neighbourhood in the Bronx to the now leafy suburban feel of much of Manhattan's formerly crime-ridden streets. 'It is a cliche but it is true. The one thing that is constant about New York is that it is always changing. It has always been that way,' said Czitrom.

But there is an uneasy undercurrent to what has happened that would have amazed those reading The Bonfire of the Vanities in late 1987. The book captured much of the terror and fear of the white population. They seemed about to flee. Yet in reality, 20 years later, it is rich white people who took over. With gentrification - spearheaded by the always booming banking industry - swaths of the city have become much wealthier, and also much paler. Even Harlem is becoming a whiter neighbourhood. That was never predicted in Bonfire
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Sherman McCoy went from being a Master of the Universe to facing a trial for manslaughter, brought down by New York's gritty system. Yet his kind have prospered in the Big Apple.

Far from marking the beginning of the end of McCoy and his ilk in New York, the past 20 years have seen them take over the city.

The Real McCoy ...

First published in instalments in Rolling Stone magazine, Tom Wolfe heavily revised The Bonfire of the Vanities for book publication in December 1987. The plot centres on Sherman McCoy, a rich Wall Street 'Master of the Universe' who lives in a luxury Manhattan apartment. His life begins to collapse when he and his mistress, Maria Ruskin, take a wrong turn going home and end up in the Bronx. Ruskin is driving when they hit a young black man.

The case of an unknown white driver running over a black student becomes a cause celebre for various factions of the city: a rule-bending civil rights activist, a sleazy British journalist out to rescue his career and a mayoral candidate after the black vote. When McCoy is named in the press as the driver, he becomes the most hated man in New York, which hangs on the edge of violence. His mistress flees the US, his wife leaves him and he ends up broke and facing manslaughter charges. The book sold over three million copies and was made into a film with Tom Hanks as McCoy.

Masters of the Universe still run New York | World news | The Observer
 
On GS, nina mshikaji wangu nilifanya kazi naye about 8 years ago, alikuwa ni Mchumi PHD kutoka MIT, mwanafunzi wa Jeffrey Sachs akaenda NY kwa interview GS, akagonga mwamba. Sasa hivi ni chief economic commentary wa CME!

He never liked GS baada ya kunyimwa kazi, and he is a Myahudi!

Mwenzio interviews za miezi 6 zilinishinda na i was fresh from Uni so you can imagine how ambitious nilivyokuwa. Unaambiwa ex staff mara nyingi wakiacha kazi GS huwa hawaendi kufanya kazi kwingine tena..mara nyingi they preger kustaafu tuu.

Lakini why would one wanna work else where after Goldman Sachs? well unless one wants to be a hedge fund manager since Goldman is, after all, a ruthless place, one that sucks very smart people in and spits them out with surprising rapidity and from what i know about GS is people leave because they're rich enough like the pre-IPO partners, as they're known at Goldman, each got stock worth an average of over $100 million

This dude below used to be CEO @Goldman Sachs now he is the US Secretary of treasury and before he became secretary of the treasure he has been to China more than 70 times times since 1992 and is closer to China's leaders than many in the U.S. government.
500px-Henry_Paulson_official_Treasury_photo%2C_2006.jpg

now about Mc Kinsey they are much better than GS at least i was called for an interview in their Johannesburg offices even though i never got the job

By the way last time i checked Chelsea Clinton wasworking with McKinsey na kuna mtu jana kaniambia hayuko tena huko..havent cross checked though
 
GT,

I have always preached that Capitalism is ruthless, na watu wananitukana!

Hii Free Market economy ambayo tunaikimbilia kichwa kichwa inatufanya tuwe watafutaji kwa nguvu na si kwa ubunifu.

Wamarekani wamebakia kutegemea immigrants both legal and illegl to run the economy and becoming creative, huku wao wakitafuta cheap and simple ways to make more money.

Ndiyo maana unasikia wehu wa Wall Street crisis, kila mtu anataka ale Zucchini, oysters, caviar na kuendesha Maserati!
 
KISHOKA,
If Lehman is not bought, stock goes under $1 Monday and Tuesday all firms pull the credit lines. Lehman is gone. All of their $475 billion in credit default swaps, etc. is gone as well. All of their counterparties will have to write down the value of their respective CDS positions.


Further, liquidation of $600 billion portfolio (assets) will bring market to total freeze, and when all done, “may be” $.50 on $1 will be recovered. Which means on liabilities' side ($613 billion), their lenders are looking for another $300 billion write down on their assets.


Next up (well, next week is more like it), WAMU and AIG, both will be gone. AIG holds $1 trillion in assets, WAMU holds close to $150 billion in customer deposits and over $200 billion in assets. Any investment bank, Goldman included, that thinks they can sit this one out is either delusional, or stupid, or both.

Since i failed in my job interview with GS i have never been a fan

always wanted to work for that bank but there you go...maybe i wasnt Jewish enough

GT,

I think this is going too far. GS will weather the storm. They are too well connected.

"Bankers at Goldman Sachs are set to share a $20.2bn (£10bn) bonus pool on the back of a record year at one of Wall Street's most prestigious names.

Goldman, reporting a bumper 2007 profit of $11.6bn for the year to November, revealed that total bonuses for the 12 month period were $20.19bn, a 23pc rise on 2006's $16.5bn pool.

Lloyd Blankfein
Goldman chief executive Lloyd Blankfein has led the bank to a record year

It employs approximately 29,900 people around the world, which means the average bonus per worker is $675,250, compared with around $640,000 last year when there were slightly fewer staff."


Pole sana, lakini hongera kwa kujaribu. si lazima uwe myahudi kufanya kazi na hawa jamaa. You just need an aura of invincibility. Or being super/street smart. Nina jamaa zangu ambao ni ma-traders hapo.
 
Game Theory,

It is interesting to see in USA the Motherland of all Capitalism that the Fedral Government is nationalising the failing private entities!

Lehman Brothers,FreddieMac, FannieMae, Bear Sterns, IndyMac and now I hear a bail out for the Big Detroit companies, FORD, GM and others!

Yes it is capitalism at its best, greedy has resulted in overfeeding and everything is stretched to the maximum for the sake of profit and everyone becomes reckless!

But other systems have proved to be failures! You know what happen the SOVIET.

However, I agree that with Capitalism there is a sizeable element of greed but that is probably just the flipside of competitive individuals chasing success as hard as they can.
 
I have always preached that Capitalism is ruthless, na watu wananitukana!

Hii Free Market economy ambayo tunaikimbilia kichwa kichwa inatufanya tuwe watafutaji kwa nguvu na si kwa ubunifu.

Wamarekani wamebakia kutegemea immigrants both legal and illegl to run the economy and becoming creative, huku wao wakitafuta cheap and simple ways to make more money.

Ndiyo maana unasikia wehu wa Wall Street crisis, kila mtu anataka ale Zucchini, oysters, caviar na kuendesha Maserati!

Kishoka,

Zucchini hata mimi na wewe tunaweza kumudu. Ha ha aaaaa.

180px-Cucurbita_pepo1.jpg


Wa Wallstreet wanakula hiyo Caviar. Oyster zipo madukani kwenye vikopo vya $2.99 (unless nimelishwa vi-artificial! ). Natafuta hiyo Caviar hiyo. Isije ikawa bomu na yenyewe, manake hiyo Zucchini ni afadhali tango la kibongo.

Back to the business at hand.

Unapohubiri kwamba Capitalism ni ukatili halafu watu wanakutukana hilo linashangaza. Kwa sababu hakuna mchumi yeyote anae stahili jina lake anaeweza kubisha hilo hadharani . Inajulikana wazi kwamba Ukabaila ni unyonyaji wa kikatili.

Tatizo, Rev. Kishoka, ambacho kinatatiza watu waongofu na wasiopenda unyonyaji na ukatili wa kiuchumi kama wewe ni kwamba Ukabaila ndio una mafanikio!

Hakuna anaesema Ukabaila una maadili, una huruma, una mema, una ubinadamu. La hasha.

Wanasema - makabaila wanatucheka wanasema - mabeberu ndio hawafi na njaa. Wajamaa wanafukarika mpaka wanashindwa kupigana na wadudu. Wanauawa na mbu!

Kibaya zaidi Rev. Kishoka, kibaya kitakacho kuuma zaidi, ni kwamba hata ule utu wa kijamaa ambao ndio tulijivunia tumebaki nao japo tu fukara Wajamaa wa Afrika siku hizi nao tumeshindwa kujivunia kwa sababu tunauana kwa sababu fukara wamewachoka mabeberu wa Kiafrika. Siku hizi mnawaita mafisadi.

A vicious heinous cycle of poverty, despair, disease, death and disaster.

Spelled Socialism.
 
Kishoka,

Zucchini hata mimi na wewe tunaweza kumudu. Ha ha aaaaa.

180px-Cucurbita_pepo1.jpg


Wa Wallstreet wanakula hiyo Caviar. Oyster zipo madukani kwenye vikopo vya $2.99 (unless nimelishwa vi-artificial! ). Natafuta hiyo Caviar hiyo. Isije ikawa bomu na yenyewe, manake hiyo Zucchini ni afadhali tango la kibongo.

Back to the business at hand.

Unapohubiri kwamba Capitalism ni ukatili halafu unasema watu wanakutukana hilo linashangaza. Kwa sababu hakuna mchumi yeyote anae stahili jina lake anaeweza kubisha hilo hadharani . Inajulikana wazi kwamba Ukabaila ni unyonyaji wa kikatili.

Tatizo, Rev. Kishoka, ambacho kinatatiza watu waongofu na wasiopenda unyonyaji na ukatili wa kiuchumi kama wewe ni kwamba Ukabaila ndio una mafanikio!

Hakuna anaesema Ukabaila una maadili, una huruma, una mema, una ubinadamu.

La hasha. Wanasema - makabaila wanatucheka wanasema - makabaila ndio hawafi na njaa. Wajamaa wanafukarika mpaka wanashindwa kupigana na wadudu. Wanauawa na mbu!

Kibaya zaidi Rev. Kishoka, kibaya kitakacho kuuma zaidi, ni kwamba hata ule utu wa kijamaa ambao ndio tulijidai tumebaki nao japo tu fukara siku hizi Wajamaa wa Afrika nao tumeshindwa kujivunia kwa sababu tunauana kwa sababu fukara wamewachoka mabeberu wa Kiafrika. Siku hizi mnawaita mafisadi.

A vicious heinous cycle of poverty, despair, disease, death and disaster.

Spelled Socialism.

That is it. You have nailed it.
 
Tupe basi nyeti stock gani tuikimbilie na kupata pesa chap chap tufurahie "ufisadi" na sisi!

Hawa jamaa wanapendekeza stocks na wanapublish all the time. But you invest in those risky assets aware that discretion is the better part of your valour.
 
GT,

I think this is going too far. GS will weather the storm. They are too well connected.

"Bankers at Goldman Sachs are set to share a $20.2bn (£10bn) bonus pool on the back of a record year at one of Wall Street's most prestigious names.

Goldman, reporting a bumper 2007 profit of $11.6bn for the year to November, revealed that total bonuses for the 12 month period were $20.19bn, a 23pc rise on 2006's $16.5bn pool.

Lloyd Blankfein
Goldman chief executive Lloyd Blankfein has led the bank to a record year

It employs approximately 29,900 people around the world, which means the average bonus per worker is $675,250, compared with around $640,000 last year when there were slightly fewer staff."


Pole sana, lakini hongera kwa kujaribu. si lazima uwe myahudi kufanya kazi na hawa jamaa. You just need an aura of invincibility. Or being super/street smart. Nina jamaa zangu ambao ni ma-traders hapo.



In the accounting world, i know they make the distinction between pre-tax and post-tax.

For GS they need to make the distinction between pre-lawsuit and post-lawsuit.

GS forgot that they lived in the same financial pond as all of the others. They believed the "contained to subprime" myth, expecting their other lines of business to continue on as usual.

Surprise, surprise...Those braggarts will be paying big bucks to pension funds, et al., post-lawsuit.

Breaks my heart.
 
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