CAPITALISM ANDS ITS BEST OBAMANATION AT ITS WORST (tags)
As of today even without the additional infusion of new government money, the american public has 79% interest in AIG already largely in the form of highly vulnerable common stocks. The remaining shares in preferred or treasury stocks (which are on top of the food chain when it comes to bankruptcy or liquidation proceedings) are in private holdings mostly belonging to AIG founder Hank Greenberg. In the event of bankruptcy, preferred stocks e.g. Greenberg are guaranteed proceeds even with the equivalent of diluted shares of their notes - the american public - ZIP!
CORRUPTION, DEFPRETRATION. LANDSLIDES. DEATH AND MEA CULPA (tags)
“The reasons for the degradation of our forests are corruption and our own shortcomings,” admitted Secretary Lito Atienza of Department of the Environment and Natural Resources (DENR) in a New Year message to his department personnel. A common knowledge among Filipinos, Atienza's admonishment, hardly created a ripple in Manila were ordinary citizens had almost but accepted corruption is an integral part of governance in the island nation.