InvestYoung

Citigroup Employee Compensation!

I was just reading that Citigroup wants to have their Phibro energy trading unit removed from government oversight. And the reason is because they want to pay their top dog Andrew J. Hall about $100 million. This unit for Citigroup makes up most of their profit. And their afraid that other banks could steal Mr. Hall away. Citigroup will have to convince government pay czar Kenneth Feinberg, as well as shareholders. They may also have to convince the U.S Congress, and the American people. After all we own almost 40 percent of Citigroup. Me personally I say let Mr. Hall go, he’ll never make the money he’s making at Citigroup. After all Mr. Hall would be out of a job if it wasn’t because of the American people. So add him to the list and kick him to the curb.

CIT Going Under!

I was just reading that commercial lender CIT Group Inc has a board meeting set for Sunday night. Their meeting to consider what their next steps are since the U.S government turned them away for funds. The U.S government doesn’t think helping this small short term lender would hurt the economy. But if CIT does fail hit will hurt small to midsize businesses, like Dunkin’ Donuts franchisees. CIT’s bankruptcy filing will hurt a ton of retail businesses who depend on CIT to purchase their huge inventory purchases. This will affect more businesses then the Obama administration thinks. It seems like the Obama administration doesn’t want to help CIT because it could help big banks in the long run, which is why the government needs to stay out of the banking business. That’s how I personally feel. It’s the old saying, the rich get richer, and the poor get poorer. The Obama administration needs to be fair to everyone, not just the bigger banks. I hope that CIT works things out with their bond holders, so they can tell the Obama administration to stick it.

Stimulus Program!

President Barack Obama said that the $787 billion stimulus program must take time to work. He’s addressing this because others are pushing for a second stimulus plan. He said in his address today that the ailing economy will need time to recover. I personally think he has no clue about the economy. I do agree with him that a 2nd plan isn’t needed. I only say that because so far out of the $787 billion only something like a $100 billion has be spent. He needs to figure out away to get the money out to the people. Right now thousands are losing there jobs, homes and a lot more. If he can only get the money out faster we all would be better off. So lets push Obama to just spend the money planned, and worry about a 2nd plan later.