THE HOT JOINTS » Business News

Madoff Gets Butt Kicked In Prison

Chris Jones — Thu, 24 Dec 2009 17:24:59 +0000

Bernie Madoff got his ass kicked in prison according to ABC. The dirty thief was treated at a hospital for a collapsed lung, facial fractures, and broken ribs, all of which are consistent with a prison assault.

The way I see it, Bernie made a deal with the devil early in his life. The decisions he made allowed him to live like a king during his best years. The majority of his life was spent enjoying luxuries most humans will never experience.

Now, he’s 71-years old and must pay for all those good years with his life. Bernie will spend his twilight years doing menial jobs like laundry for 5 cents a day, while dodging convicts looking to make their bones by extorting him, assaulting him, and eventually killing him.

Chances are he won’t live to be that old. For the sake of argument let’s say he lives to be 80. That would mean he spent about 40+ years living a hedonistic lifestyle funded solely by blood money and barely 10 years in prison.

To a sociopath like Bernie Madoff, that’s not such a bad deal.

Alexis Glick Leaving FBN

Chris Jones — Wed, 23 Dec 2009 17:30:25 +0000

Fox Business Network is losing one of its stars and its vice president of news. Alexis Glick has announced she will be leaving Fox Business for a new unspecified venture.

"I’m about to embark on a new venture…. I can’t give any details yet," she said on her show.

Damn, I wonder what the venture is? She had a pretty sweet gig at Fox and was a popular anchor on both Fox News and Fox Business.

Sarah Palin Delivers Speech In Hong Kong

Chris Jones — Wed, 23 Sep 2009 19:34:32 +0000

Former Alaska Governor Sarah Palin delivered a much anticipated speech to the world’s top investors at a conference in Hong Kong. She discussed a wide range of issues including the U.S. budget deficit, health care, foreign policy, The Federal Reserve, trade policy, and China.

Media wasn’t allowed at the event, but no doubt someone has a video of the speech. I’ll post it when I find it.

AFL-CIO President Named Head Of NY Fed — What Could Go Wrong?

Chris Jones — Tue, 25 Aug 2009 04:41:46 +0000

From the WSJ:

The Federal Reserve chose a labor leader to succeed a former Goldman Sachs executive as the chairman of the Federal Reserve Board of New York’s private-sector board of directors.

Denis Hughes, president of the New York state branch of the AFL-CIO, had been serving as acting chairman of the New York Fed board since May, when Stephen Friedman stepped down from the position.

Put big labor in charge, that’s the ticket!

This calls for a repost of the best union ad ever:

Video: The Economy Then And Now

Chris Jones — Tue, 09 Jun 2009 16:08:48 +0000

Here’s how the media treated a recovering and then soaring economy under Bush and how they’re treating the economy under Obama.

(hat tip Gateway Pundit)

Video: Obama Talks GM

Chris Jones — Mon, 01 Jun 2009 20:34:40 +0000

Here’s president Obama talking about his bailout of ~~the UAW~~ GM:

Visit msnbc.com for Breaking News, World News, and News about the Economy

Chutzpah: Obama Warns Current Deficit Spending Is “Unsustainable”

Chris Jones — Thu, 14 May 2009 22:34:49 +0000

You really have to admire the chutzpah that president Obama displays time and again when talking about fiscal matters.

He said the following during a town hall meeting in New Mexico:

“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”

Holders of U.S. debt will eventually “get tired” of buying it, causing interest rates on everything from auto loans to home mortgages to increase, Obama said. “It will have a dampening effect on our economy.”

What he neglects to mention as usual is that he is the reason we keep borrowing from China and mortgaging our children’s future.

Obama loves to talk about the deficits he inherited, but his only solution to Bush’s out-of-control spending and record deficits has been even more spending and ever larger deficits.

Obama’s spending in his first 100 days in office dwarfs all of Bush’s spending for his entire two terms.

So maybe the president should take some of his own advice.

Madoff Guilty Plea Expected

Chris Jones — Fri, 06 Mar 2009 20:47:24 +0000

The Feds have reached a deal with Bernie Madoff which requires him to admit to his role in the biggest financial fraud in American history. His phony investment firm may have stolen as much as $50 billion dollars from investors over the years.

The plea deal does not include any agreement on the amount of prison time Madoff could receive or any promises not to prosecute other Madoff family members. Investigators believe Madoff’s sons were aware of the scam and active participants in it.

Three different investors have committed suicide since it was revealed that Bernie Madoff’s entire business was a fraud. Director Steven Spielberg reportedly lost millions to Madoff and actor Kevin Bacon lost his life savings to the con man.

Personally, I can’t wait to see this scumbag rotting away in the clink for the rest of his miserable life. You have to be one sick bastard to knowingly scam your own friends out of their life savings.

I truly believe that if this country was really about justice, Madoff would be tried, convicted, and then taken behind the courthouse and shot.

-Chris Jones

Geithner Confirmed As Treasury Secretary 60-34

Chris Jones — Tue, 27 Jan 2009 00:08:37 +0000

From the AP:

The Senate has confirmed New York Fed chief Timothy Geithner to be President Barack Obama’s secretary of the treasury.The 60-34 vote puts Geithner at the helm of Obama’s plan to rescue the economy from the worst financial crisis in three generations. It also dislodges one of Obama’s most troubled nominations.

Some senators were concerned that Geithner, who would oversee the Internal Revenue Service, did not pay all of taxes until he had been tapped to the president’s Cabinet. Geithner called it an unintentional oversight and settled his $34,000 overdue tax bill.

It’s certainly no shocker that he was confirmed. Geithner probably really was trying to cheat on his taxes, but in the grand scheme of things I’m really not all that concerned about him. Eric Holder’s nomination for AG is the one that keeps me up at night. He’s going to be total disaster for our intelligence community and the entire War on Terror. The Clinton era mindset of treating terrorism as a law enforcement matter got us to 9/11 so we changed approach and have prevented further attacks.

A little more than seven years later history is repeating itself once more. The DOJ is being stuffed with clueless Clinton cronies who don’t understand that we’re at war.

One step forward — two steps back.

GOP Revolt: Auto Bailout In Jeopardy

Chris Jones — Wed, 10 Dec 2008 23:32:39 +0000

The auto industry bailout looked like all but a sure thing this morning, but growing Republican opposition to the measure has put the $14 billion dollar aide package in jeopardy.

Emergency aid for the nation’s imperiled auto industry was thrown into
jeopardy Wednesday, opposed by Republicans who were revolting against a
hard-fought deal between Democrats and the Bush White House to speed
$14 billion to ailing carmakers.

Democrats detailed the compromise
measure and laid the groundwork for quick votes on it, holding out hope
the bailout could be enacted by week’s end. But a growing number of GOP
senators declared they would not go along.

The White House,
though not formally endorsing an agreement with congressional
Democrats, dispatched administration officials to Capitol Hill to make
a case for the rescue package. During a contentious, closed-door
luncheon with Senate Republicans, they got an earful of criticism from
the rank-and-file, some of whom have already announced plans to block
the measure.

“They got a good dose,” said opponent Tom Coburn, R-Okla., as he emerged from the session.

Even auto state Republicans who have pushed hard for a bailout said the
measure needed work. Sen. Kit Bond, R-Mo., said he wanted to see
changes. And Sen. George V. Voinovich, R-Ohio, said the measure didn’t
have the necessary Republican votes to pass Congress.

I can remember when a billion dollars was a lot of money — or at least it seemed like it was. Now, the Congress hands out billions like it’s loose change. This financial crisis is an outrage. We bailed out the financial sector which may or not have been necessary, but what’s done is done. However, allowing this culture of bailouts and handouts to continue is completely unacceptable. Every Tom, Dick, and Harry in this country now has their hand out begging for their multi-billion dollar Christmas present.

The U.S. auto industry is a relic. Decades of bad management, out of control unions, and foreign competition has rendered the domestic auto industry a dinosaur. This romantic notion that we should just keep the car companies in business simply because they employ a lot of people is ridiculous. Why should a company that doesn’t turn a profit be artificially kept alive through government intervention?

A $15 billion dollar loan to the auto companies is like giving a homeless man $20. It will be gone in a day or two but the man will still be homeless. We should not even consider giving the ailing auto industry a single crying dime until they fix the root causes of their predicament.

THE HOT JOINTS » Business News

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