The Real Housewives of Wall Street

[MaddSkillz]

Why is the Federal Reserve forking over $220 million in bailout money to the wives of two Morgan Stanley bigwigs?

Christy is the wife of John Mack, the chairman of Morgan Stanley. Susan is the widow of Peter Karches, a close friend of the Macks who served as president of Morgan Stanley's investment-banking division. Neither woman appears to have any serious history in business, apart from a few philanthropic experiences. Yet the Federal Reserve handed them both low-interest loans of nearly a quarter of a billion dollars through a complicated bailout program that virtually guaranteed them millions in risk-free income.

Read the rest at the link... Warning: It will probably make you angry.

 

[dennishoddy]

Nothing new.......just business as usual for those folks...

 

[HMFIC]

You're right... that made me mad. It shouldn't have suprised me though.

Somehow though, it will be Bush's fault I'm sure instead of the blame falling where it should.

 

[doctorjj]

Even though I'm not surprised at all, I did throw up in my mouth a little when I read that.

 

[MaddSkillz]

There's us and then there's them - the crooks who deceptively organize and profit off of the backs of the rest of us. How people can do that is beyond me. Even though they may be wealthy, they're bottom suckers and should be living life within windowless walls.

 

[rhodesbe]

I would almost rather see pictures of the dong-guy that pees his swimsuit than read this article.

 

[OKgetdown]

I would almost rather see pictures of the dong-guy that pees his swimsuit than read this article.

Ummm..what?

 

[Hobbes]

It's just the way the system works for the people in positions of power and influence. Always has , probably always will.

Look at the sweetheart mortgage loan that Sen. Dodd received.
You and I could never get a loan like that because we don't sit on a powerful Senate committee.

One hand washes the other

 

[Nraman]

It's just the way the system works for the people in positions of power and influence. Always has , probably always will.

Whether it was land barons, railroad owners, oil men, modern super rich or nobility, there has always been "us and them". What I see as different now is that the "masters" have become more selfish and arrogant. I think that in years past there was a trace of patriotism with most of them. Today they don't even care to be Americans and definitely don't give a hoot about our future, they think they are beyond nationality, that they are global citizens and profit the only thing that matters.

 

[Nraman]

I just finished reading the article. I guess nothing surprises me any more. Most of the bailout money went overseas to foreign corporations. One day they will tell me that they need to cut my Social Security to pay off the money they borrowed for the bailout.
And we make fun of foreign corrupt governments.
In the mean time we keep bombing Libya, and others. YES! Let's kick some a$$!