Today's quick hits from Fileunderi:
The SEC charges Stanford Financial and Robert Allen Stanford with "massive, ongoing fraud" in an $8B dollar scam. Also named in the suit were two other executives and some affiliates of the financial group. Apparently, about 40 armed authorities raided their offices in Houston today...And yet another financial firm charged with fraud. Imagine that.
At the Alex Rodriguez press conference today, A-Rod said he used Rip Fuel which was easily obtainable at the time. He denied using HGH (at least knowingly).
Our take? Who gives a damn? Asterisk all these guys. Make Aaron the Home Run King again. And for God sakes...put Pete Rose in the Hall of Fame. He's the All-Time Hits leader. And Play Ball.
Chrysler Corp asked for ANOTHER FIVE BILLION DOLLARS today. Folks, their sales are down 50% from last year. They build crap. Sorry. Let it die. This firm is privately owned...let them self-rescue.
Finally...the US Bank CEO, Richard Davis, said today that TARP is "a lousy program".
He informs us that his bank has been forced to participate in the program and that the program is a drain on healthy banks.
“There’s no A, R or P in TARP,” Davis said, adding that “troubled” is the only word in the phrase that’s accurate. “The ‘asset relief program’ has yet to occur.”
Davis said he would be “darned” if U.S. Bank would suffer collateral damage from the government’s “sloppy attempt at nationalizing the industry.”
And the Insanity continues...