Stephen H Baum Leadership

As I said in a prior post, the fruit vendor on a nearby street corner in New York City told me he is working on becoming a bank holding company so he can get in line for a bailout. Is there no end?

Today’s announcement it was announced that insurance companies will be allowed to reduce the reserve capital they have to make sure they can pay benefits to customers when the time comes. Isn’t this converting insurers to be like AIG? Isn’t insurance with low reserves the same as gambling?

There was no accompanying clear and detailed plan for oversight. Just like the billions of dollars that have flowed into the investment bank.

That’s my view. What’s yours?