The Economist magazine,July 31,2009 page 8:
Bank of America reported a $3.2 billion profit based mostly on one-time gains, such as selling part of its stake in China Construction Bank. Business is good for American bankers especially investment bankers to offer financial capital to the entrepreneurs in China in the 21st century.
My prediction may or may not be my dream which may or may not be realized.(sic)
NEWSWEEK magazine, August 3, 2009 page 64:
Howcome Goldman is making billions and I'm still broke? Here's Goldman's playbook for surviving calamity and coming out on top.
Work Uncle Sam: In 2008, while the market was tanking, Goldman spent $3.3 million lobbying the government to fend off regulation. It helps when former CEO Hank Paulson is Treasury Secretary. Connection pays everywhere i.e."Guanxi" in Pin Yin system of romanization.
Gamble with other people's money: Sitting on billions from taxpayers,gambling $245 million a day. Revenue from trading equities alone jumped 100% in the 2nd quarter, accounting for much of that $3.44 billions.
Francis Shieh a.k.a. Xie Shihao, an innocent bi-stander watching all the money goes from the little guys to the big fellows with clout. That is not untrue and nobody would impugn.
I am inclined to have my positive attitude in the ligher vein: Hehehahahoho all the way,we can strive to be centenarians to witness such drama being unfolded everyday with fun...
August 2, 2009 on Sunday in Bowie Library at 1.30 p.m.
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