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Old 07-02-2009   #1
 
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10 dumbest moments in business 2009

Dumbest Moments in Business 2009...Midyear Edition
by Fortune by CNN Money.com


our ohh so bright and wonderfully great administration and government has made 4 of the top 10 Dumbest moments in Business 2009 OHH YEAH WE ARE ONLY HALF WAY THROUGH.

Go TEAM OBAMA.

6. Not-So-Stressful Stress Tests
Phew: On May 8, the government revealed the results of the `stress tests' and we learned that the nation's biggest banks were in okay shape to handle "adverse" scenarios -- like, say, 8.9% unemployment. Thank heavens for that, because just one day later the Labor Department reported that the unemployment rate hit -- you guessed it -- 8.9%.

Nearly two months later we're at 9.4%...and counting.

8. U.S. Debt is 'Safe.' Seriously. Stop Laughing
Following a speech at Peking University on his first trip to China as Treasury Secretary, Tim Geithner was asked to share his thoughts about the safety of Chinese investments in the United States. They are "VERY safe," he quickly asserted.

At which point the audience burst out laughing. Apparently, the audience was amused not only by the answer's substance, but by the flat "don't worry your little young heads about it" certainty with which Geithner insisted that China's U.S. debt holdings were A-OK. Because as even a group of Chinese college kids understood, that's just not as clear as the Treasury Secretary insisted it was.

Photo: Shawna Shepherd/CNN

9. Geithner gives few details, tanks the market
In February, President Obama used his first White House press conference to alert the public to a momentous event. "Tomorrow, my Treasury Secretary, Tim Geithner, will be announcing some very clear and specific plans for how we are going to start loosening up credit once again," he said.
But when Geithner appeared at Treasury the next day, on Feb. 10, he offered few plans of any sort, let alone clear and specific ones, which helps to explain the stock market's 5% plunge that day. Since then Geithner has loosened up, with the help of a media trainer -- and the market has bounced back. Coincidence?
10. Obama's spending cuts...a ways to go
You're eight months behind on your $500,000 mortgage, your bank is demanding a meeting, and you respond by telling them there's nothing to worry about. Why not? Because you just saved $40 by canceling your newspaper subscription.

That, essentially, is the kind of fast budget talk President Obama trotted out in April when he made a big to-do out of instructing his cabinet to cut $100 million from their budgets.

$100 million may sound like a big number, but the cut would only reduce the United States' projected $1.8 trillion budget deficit by 0.005% -- less than what you'd save for your mortgage by giving up the daily paper.

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Old 07-02-2009   #2
 
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Quote:
Originally Posted by caspermike View Post
Dumbest Moments in Business 2009...Midyear Edition
by Fortune by CNN Money.com


our ohh so bright and wonderfully great administration and government has made 4 of the top 10 Dumbest moments in Business 2009

Go TEAM OBAMA.

6. Not-So-Stressful Stress Tests
Phew: On May 8, the government revealed the results of the `stress tests' and we learned that the nation's biggest banks were in okay shape to handle "adverse" scenarios -- like, say, 8.9% unemployment. Thank heavens for that, because just one day later the Labor Department reported that the unemployment rate hit -- you guessed it -- 8.9%.

Nearly two months later we're at 9.4%...and counting.

8. U.S. Debt is 'Safe.' Seriously. Stop Laughing
Following a speech at Peking University on his first trip to China as Treasury Secretary, Tim Geithner was asked to share his thoughts about the safety of Chinese investments in the United States. They are "VERY safe," he quickly asserted.

At which point the audience burst out laughing. Apparently, the audience was amused not only by the answer's substance, but by the flat "don't worry your little young heads about it" certainty with which Geithner insisted that China's U.S. debt holdings were A-OK. Because as even a group of Chinese college kids understood, that's just not as clear as the Treasury Secretary insisted it was.

Photo: Shawna Shepherd/CNN

9. Geithner gives few details, tanks the market
In February, President Obama used his first White House press conference to alert the public to a momentous event. "Tomorrow, my Treasury Secretary, Tim Geithner, will be announcing some very clear and specific plans for how we are going to start loosening up credit once again," he said.
But when Geithner appeared at Treasury the next day, on Feb. 10, he offered few plans of any sort, let alone clear and specific ones, which helps to explain the stock market's 5% plunge that day. Since then Geithner has loosened up, with the help of a media trainer -- and the market has bounced back. Coincidence?
10. Obama's spending cuts...a ways to go
You're eight months behind on your $500,000 mortgage, your bank is demanding a meeting, and you respond by telling them there's nothing to worry about. Why not? Because you just saved $40 by canceling your newspaper subscription.

That, essentially, is the kind of fast budget talk President Obama trotted out in April when he made a big to-do out of instructing his cabinet to cut $100 million from their budgets.

$100 million may sound like a big number, but the cut would only reduce the United States' projected $1.8 trillion budget deficit by 0.005% -- less than what you'd save for your mortgage by giving up the daily paper.
Why start a war here Mike? You know as well as i do that all the lefty/commies on this site could care less what Fortune nor most business/financial people say about Obama's policies. They would rather believe the pseudo-intellectual college professor. It's very scary what is happening.
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Old 07-02-2009   #3
 
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scary is not that word. im actually suprised to see cnn starting to report something other than what MR. Obama is eating.

here's another good article
http://money.cnn.com/2009/06/29/news...ion=2009070107
Business gets taxed, workers get hurt
"The Obama administration wants to whack companies with stiff new taxes, but the real victims are already suffering enough."

the link to the story above. is here
http://money.cnn.com/galleries/2009/...une/index.html
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Old 07-02-2009   #4
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Mike, why didn't you post the other 6 dumbest moments? Would we not have been able to pick out which ones for which Obama is directly at fault? Or maybe is it because some of the other moments were perpetuated by conservatives, (John Thain's $35,000 'Commode on Legs' )have had a larger impact (GM Partners With Segway), or may have initially gotten the ball rolling during the previous admin's tenure (SEC Bars Madoff...Just in Time)?
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Old 07-02-2009   #5
 
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don't take it so offensive tmttr. just a story theres a link go click. my only problem. conservatives don't hold the ball in the court its in Mr. Obama's and teams hands. you are just playing cheerleader. im just announcing.

lets not forget who Obama is truely bailing out. its not the little guys he was a spoksman for its completely the opposite.

don't forget to read the other article.
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Old 07-02-2009   #6
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I'm surprised that they didnt spin all 10 at Obama
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Old 07-02-2009   #7
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Quote:
Originally Posted by caspermike View Post
don't take it so offensive tmttr. just a story theres a link go click. my only problem. conservatives don't hold the ball in the court its in Mr. Obama's and teams hands. you are just playing cheerleader. im just announcing.
I'm not offended, I was just asking. I did click, hence the examples, but I'm done cheerleading too. I'm over the partisanship in here and elsewhere. It's not about conservatives vs. liberals, it's about rich vs. poor and most Americans can't see that. All of these 10 dumbest moments, despite which side of the aisle instigated them, affect the middle and lower classes more than the upper socioeconomic class.

This is my first foray into the eddy in a while and it's only because I'm sitting in class for once instead of in my boat.

I'm sure I'll care more again come wintertime... for now, I got my raft fixed and I'll be out there instead! SYOTR, Kjirsten
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Old 07-02-2009   #8
 
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Hmmm, I counted 17 ov '

Dumbest Moments in Business 2009...midyear edition
12 of 17

We don't need your stinkin' stimulus
Okay, so it's probably only the second-dumbest thing that Mark Sanford has done in 2009: In March, the South Carolina governor boldly announced he was rejecting $700 million of federal stimulus funds for his state, based on his fiscal conservative principles.

Apparently, South Carolina's issues -- the state has the nation's second-highest unemployment rate, for instance -- were somewhat less of a concern for Sanford, who was considered a 2012 presidential hopeful until his recent vacation adventure.

GOP governors like Sarah Palin of Alaska joined Sanford in his stand, but most accepted funds in the end, and in South Carolina, the fight went to the state supreme court, which ordered Sanford to take the money (but not to run).
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Old 07-02-2009   #9
 
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I am sure President Obama has made mistakes, but in regards to the current economic impact they pale in comparison to the blundering of the last Administration and Congress.

But I am glad to see that all the right wingers have decided to come out of their bomb shelters for July 4th weekend.
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Old 07-02-2009   #10
 
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thanks for posting the swine Rip... doesn't do much cause team obama has the ball. you have anything to add about some of the plays they threw down? i can attest that republicans suck at playing defense as well and most are severe hyprocritical joksters. it wasn't the republicans who won the land from the brits and it wasn't team Obama. it was the little guys. so when everybody gets tired of that dark place you have your head stuck. lets start doing something together. we all know you have better chance survivin the V with a team. hows this going to be any different.

well unless you you A Brand OBama buyer. than i have sorrow in my heart for you. may you find the path of rightousness right next to christianity and islamabad.
peace

and thank god its friday. thruday but no work tomarrow and hitting the rivermaybe camping i don't know and i dont give a shit.

jackson kayaks rule! wo
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