Corporations Can Get Away With Murder

Lo and behold, I found yet another reason to bitch about Citi:  http://www.ksl.com/?nid=157&sid=17846187#.TtP_Ru2mNUc.email  Basically what this article says is that Citi committed crimes, Citigroup and the Securities and Exchange Commission then came to some sort of agreement (e.g., payoff), and now the SEC is shielding the public from details of the firm's wrongdoing.

As if Citi doesn't make enough money gouging people with exhorbitant fees and interest rates that would make the Mafia blush, they also have to mislead investors in order to make even more obscene profits.

According to this article:  "U.S. District Judge Jed Rakoff said the public has a right to know what happens in cases that touch on "the transparency of financial markets whose gyrations have so depressed our economy and debilitated our lives." In such cases, the SEC has a responsibility to ensure that the truth emerges, he wrote."  Pretty amazing that the SEC would allege criminal activities and then run away with their tail between their legs; of course, they probably had a suitcase full of money to buffer any apprehensions they might have had about not forcing Citi to admit guilt or wrongdoing.

And as if that weren't enough to make one vomit every time one sees anything with the Citi logo, there's another article listing CEOs who are job killers, which I've posted previously, but this time with a video clip on Vikram Pandit's slide that reads: "Citigroup board gives Pandit a big raise." http://money.msn.com/investing/ceos-who-became-job-killers-thestreet.aspx?cp-documentid=6834878  Warms the heart to know that Vikram is getting raises even as Citi is announcing projected layoffs to cut costs.  These stories of corporate greed, corruption, and malfeasance keep getting more and more frequent and more and more ludicrous.

Hollywood, You So Silly!

Where do I begin with the latest Hollywood drivel, Larry Crowne? It's the story of a middle-aged man (played by Tom Hanks) who reinvents himself by going back to college after losing his job. This movie is Hollywood's way of telling the rest of us that we're pathetic losers; Hollywood gets the last laugh though because it's us losers who will pay for the displeasure of seeing this movie.

I'm not sure how many (if any) Hollywood stars have ever had to work at a poorly-or-only-adequately-paying job with health coverage that's hardly better than no health coverage and no retirement benefits for most of their lives only to lose said job because the company decides that employee is making too much salary and is costing the company too much in health premiums and they think they can replace said experienced employee with a wet-behind-the-ears fresh-out-of-college kid who can barely wipe his or her nose without first checking a textbook for directions. I’m pretty sure that neither Tom Hanks nor Julia Roberts have ever had to worry about their next mortgage/rent payment or car payment, or whether they will have enough beans and hot dogs for dinner again. I am also pretty sure that neither Tom Hanks nor Julia Roberts have ever had to give up any of their pets because they either couldn't afford to feed them or because they had to move into a one- or two-bedroom apartment after their house was foreclosed.

The movie is just a happy-go-lucky romp through the trials and tribulations of a middle-aged man who actually needed to be fired as a kick in the pants so he'd learn to find happiness and new adventures in his life; unemployment offices are just littered with people who look like Tom Hanks and Julia Roberts who would welcome the chance to meet a flabby, out-of-work, bitter, middle-aged person and teach them how to live and love again. By all means, Hollywood, please continue to churn out this inane claptrap all the while sticking your middle finger out at the fans and general public who have been paying good money to put you where you are.

Everyone should take to heart the simple sweet message this movie has to offer: Go and accumulate $100,000 or more in tuition debt, some 10 or 20 years before retiring, so you can go back to college and earn a degree that you'll never use in your $10 an hour job, which is the only job you'll be able to get while the economy is so shitty...oh, and you'll be competing with thousands or tens of thousands of other people for that same job. Enjoy!