This Week in Financial Deception, Hypocrisy, and Corruption

This week closed with a flourish of news in the world of finance that could turn even the sunniest optimist into a die hard cynic.  (Mr. ToughMoneyLove made that transition some years ago.)

Let’s start with the tiresome story of car company bailouts.  I listened to the press conference called by Ron Gettelfinger, president of the UAW.  I wasn’t sure why we needed to hear him live on Fox Business News but it quickly became apparent that Gettelfinger’s objective was to transfer blame to the Senate Republican Caucus for the failure of negotiations on a bridge (to nowhere) loan package for the Detroit Big Three.  (Why do they call them the “big” three?  There are only three of them, period.  How about the “Desperate Executives” Three?  Or the “Honey I Shrunk the Company” Three?) Read more