1. NY TIMES 1/8/13 Rescued by Bailout, A.I.G. May follow a THANK YOU with a suit? Fresh from paying back $182 Billion Bailout, A.IG. Has been running a THANK YOU AMERICA campaign in ” gratitude” for being bailed out. ( They should be thankful, they almost brought down the World’s economy). If the government had let them fail, their shareholders would ave been wiped out by Bankruptcy, along with most Banks on the Planet. THEY SIGNED THE AGREEMENT WITH THE GOVERNMENT AND NOW , while I watched and waited, AIG made the right decision. No lawsuit to be instituted against the US Government.
2. Basal llll ( Banking regulations). has been relaxed, basically eased to reflect reality? Who’s reality? If we don’t insist on more liquidity, more Bank reserves, we continue to create risk. See NY TIMES 1/8/13 Easing of rules for Banks acknowledges reality. Given memories of the financial crisis and it’s devastation, a slight loosening of the rules, sends fear rushing through my system. They may be protecting the Banks at the Public’s expense, once again? Though the regulators claim more stringent rules would curtail lending to Main Street, who knows? I’d like someone to prove that Main Street won’t suffer, no matter what happens?
3. NY TIMES 1/12/13 Galvanized by Sandy, buildings are madly waterproofing and , just in case that doesn’t work, investing in back up generators. At 150 Charles Street, five ideas were implemented at a cost of $3 Million to keep the building open during a Super Storm. Only 6 weeks delay was incurred as the new site was retro fitted to withstand ” storms”. It’s now a necessity to have back up generators and mechanicals higher up. We’re learning and if developers need help, they can always seek it from NYU. They are ahead of the curve.
4. LOL NY Times 1/12/13. Yoko Ono takes fight against gas drilling to Albany. For months farmers, environmentalists and placard bearing parents have demonstrated in Albany against fracking, the method of extracting natural gas. Friday, the groups were joined by Yoko Ono, world citizen, trying to protect her own Catskill property. SHE stated, fracking kills and it just doesn’t kill us, it destroys our environment. If Albany doesn’t get this message, a class action suit will follow!