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To be fair, though, the bad banking practices were either mandated or supported by the government, so while I agree that it's not always because of the president, the president does have an effect on which laws, EOs, and tariffs they sign or enact.
You're very right, and I'll even go further to say that the affordable housing act didn't help
originally posted by: Xtrozero
originally posted by: olaru12
a reply to: soundguy
08 is going to look like a walk in the park. I'm totally out, this is going to be a bigly bubble pop.
The repercussions are going to be yuuugggggeeeee.
Get ready for a surprise in August.
And when it doesn't happen what then?
originally posted by: Saiker
This is all part of the diabolical plan to get trumps face on a new currency. we will no loger have the dollar but we wil have the trumpbuck.
originally posted by: olaru12
I pay attention to guys like David Stockman
I really don't care one way or the other. "Options" should be the catch phrase for anyone that isn't a total idiot.
After leaving government, Stockman joined the Wall St. investment bank Salomon Brothers and later became a partner of the New York–based private equity company, the Blackstone Group.:125–127 His record was mixed at Blackstone, with some very good investments, such as American Axle, but also failures, including Haynes International and Republic Technologies.:144–147 During 1999, after Blackstone CEO Stephen A. Schwarzman curtailed Stockman's role in managing the investments he had developed,:146 Stockman resigned from Blackstone to start his own private equity fund company, Heartland Industrial Partners, L.P., based in Greenwich, Connecticut.
On the strength of his investment record at Blackstone, Stockman and his partners raised $1.3 billion of equity from institutional and other investors. With Stockman's guidance, Heartland used a contrarian investment strategy, buying controlling interests in companies operating in sectors of the U.S. economy that were attracting the least amount of new equity: auto parts and textiles. With the help of about $9 billion in Wall Street debt financing, Heartland completed more than 20 transactions in less than 2 years to create four portfolio companies: Springs Industries, Metaldyne, Collins & Aikman, and TriMas. Several major investments performed very poorly, however. Collins & Aikman filed for bankruptcy during 2005 and when Heartland sold Metaldyne to Asahi Tec Corp. during 2006, Heartland lost most of the $340 million of equity it had invested in the business.
Collins & Aikman Corp.
During August 2003, Stockman became CEO of Collins & Aikman Corporation, a Detroit-based manufacturer of automotive interior components. He was ousted from that job days before Collins & Aikman filed for bankruptcy under Chapter 11 on May 17, 2005.
Criminal and civil charges
On March 26, 2007, federal prosecutors in Manhattan indicted Stockman in "a scheme... to defraud [Collins & Aikman]'s investors, banks and creditors by manipulating C&A's reported revenues and earnings." The United States Securities and Exchange Commission also brought civil charges against Stockman related to actions that he performed while CEO of Collins & Aikman. Stockman suffered a personal financial loss, over $13 million, along with losses suffered by as many as 15,000 Collins & Aikman employees worldwide.
Stockman said in a statement posted on his law firm's website that the company's end was the consequence of an industry decline, not due to fraud. On January 9, 2009, the US Attorney's Office announced that it did not intend to prosecute Stockman for this case.
Yeah, I hope trump ends up destitute and disgraced. He’s a vile human being that has preyed upon the most weak among us. Everything he touches turns to crap. He’s like a cancer that continually needs to find a new host as the there is nothing left of the previous carcass. And we haven’t even touched upon his penchant for sexually assaulting women. I realize the aforementioned are considered admirable qualities In the deplorables minds. But for us good and civilized people it is appalling.