Steve Wynn

[delldude]

The guy keeps making speeches about redistribution and maybe we ought to do something to businesses that don't invest, their holding too much money. We haven't heard that kind of talk except from pure socialists. Everybody's afraid of the government and there's no need soft peddling it, it's the truth. It is the truth. And that's true of Democratic businessman and Republican businessman, and I am a Democratic businessman and I support Harry Reid. I support Democrats and Republicans. And I'm telling you that the business community in this company is frightened to death of the weird political philosophy of the President of the United States. And until he's gone, everybody's going to be sitting on their thumbs.

Read more: http://www.businessinsider.com/wynn-ceo-steve-wynn-conference-call-transcript-obama-2011-7#ixzz1SVi8w4tO

More:

 

[xUT]

More:

Banks are holding money. We went from 'no one cares' credit to 3 years of work history. Even then it's tough to get a loan. They have the bailout money, but are holding it. (after making thier KERP bonuses... )

 

[7days]

Banks are holding money. We went from 'no one cares' credit to 3 years of work history. Even then it's tough to get a loan. They have the bailout money, but are holding it. (after making thier KERP bonuses... )

Actually the banks payed back their loans from the government. And the tough standards are a result of the Dodd-Frank bill that passed. I recall a few months back a Forbes article stating its more of lack of lending opportunities the reason why the banks aren't lending as much as they used to. Which makes sense, because a lot of companies are on shaky grounds so they are not going to take on any unnecessary debt. They will choose to grow from profits rather then from loans. Those tough standards now is the pendulum swinging the other way as a direct result of the loose standards and the knee jerk legislation from Dodd-Frank bill

 

[xUT]

Actually the banks payed back their loans from the government. And the tough standards are a result of the Dodd-Frank bill that passed. I recall a few months back a Forbes article stating its more of lack of lending opportunities the reason why the banks aren't lending as much as they used to. Which makes sense, because a lot of companies are on shaky grounds so they are not going to take on any unnecessary debt. They will choose to grow from profits rather then from loans. Those tough standards now is the pendulum swinging the other way as a direct result of the loose standards and the knee jerk legislation from Dodd-Frank bill

Err Not:
CNNMoney.com's bailout tracker

 

[xUT]

World's wealthiest people now richer than before the credit crunch

The globe's richest have now recouped the losses they suffered after the 2008 banking crisis. They are richer than ever, and there are more of them – nearly 11 million – than before the recession struck.

In the world of the well-heeled, the rich are referred to as "high net worth individuals" (HNWIs) and defined as people who have more than $1m (£620,000) of free cash.

According to the annual world wealth report by Merrill Lynch and Capgemini, the wealth of HNWIs around the world reached $42.7tn (£26.5tn) in 2010, rising nearly 10% in a year and surpassing the peak of $40.7tn reached in 2007, even as austerity budgets were implemented by many governments in the developed world.

DOH! 😛

 

[dapoes]

Heres the audio link to that phone call from Wynn

http://www.realclearpolitics.com/video/2011/07/18/wynn_slams_obama_on_business_responsible_for_this_fear_in_america.html

 

[7days]

Err Not:
CNNMoney.com's bailout tracker

That article is from Figures as of November 16, 2009 as noted at the bottom.
It is true however that not all the money has been paid back.
It appears that the biggest loser of the bunch is Fannie and Freddie http://projects.propublica.org/bailout/main/summary

 

[delldude]

That article is from Figures as of November 16, 2009 as noted at the bottom.
It is true however that not all the money has been paid back.
It appears that the biggest loser of the bunch is Fannie and Freddie http://projects.propublica.org/bailout/main/summary

Excuse me, but you way off the mark.

Biggest loser, you and me, we fund fannie/freddie......duh.

 

[xUT]

That article is from Figures as of November 16, 2009 as noted at the bottom.
It is true however that not all the money has been paid back.
It appears that the biggest loser of the bunch is Fannie and Freddie http://projects.propublica.org/bailout/main/summary

Lather, Rinse, Repeat: Banks Make Big Profits by Bilking Consumers, Pay Small Fines

Reuters found 5 of the 14 firms who signed a settlement with federal regulators last year to stop such practices are at it again: Bank of America, OneWest, HSBC Bank USA, GMAC Mortgage and, you guessed it, Wells Fargo. (Wanna bet Stumpf similarly chalks up these "alleged" actions to a small group of employees who went rogue?)

Banks Pay Back TARP Funds by. . .Borrowing From Treasury

But sometimes there's less than meets the eye. Generally, banks that repaid CPP funds did so with cash raised from earnings, or by raising new outside capital. In finance and banking you always have to read the fine print. And if you go back to the report, you'll notice that the fine print accompanying the entries for each of the above exits makes reference either to Footnote 49 or Footnote 50. Footnote 49 reads: "Repayment pursuant to Title VII, Section 7001(g) of the American Recovery and Reinvestment Act of 2009 using proceeds received in connection with the institution's participation in the Small Business Lending Fund." Footnote 50 reads: "Repayment pursuant to Title VII, Section 7001(g) of the American Recovery and Reinvestment Act of 2009 — part of the repayment amount obtained from proceeds received in connection with the institution's participation in the Small Business Lending Fund."

All of which is to say that these banks repaid cash owed to a program run by the Treasury Department by. . . borrowing from another program run by the Treasury Department.

Cool!
B) xUT 😱

 

[7days]

This is also shared by businesses like Starbucks and IHOP have said they are hesitant to expand operations due to the current climate of economic uncertainty. Home Depot co-founder Bernie Marcus goes as far as to say Obama is ‘choking the economy.’

 

[xUT]

This is also shared by businesses like Starbucks and IHOP have said they are hesitant to expand operations due to the current climate of economic uncertainty. Home Depot co-founder Bernie Marcus goes as far as to say Obama is ‘choking the economy.’

"This" what? No one is going to 'OR SHOULD' expand business until we have sustainable job growth. Tax cuts does not create jobs in "THIS GLOBAL" economy. Entrepreneurs will/have take their investments overseas until Mericans can live on $5 a day, to be competitive.

THAT is the crux of the problem and our plutocrats running around in a tizzy fit blaming everyone else is pure bull ####.
Maybe you appreciate the 'drama' but I personally find it insulting.
B) xUT

 

[7days]

"This" what? No one is going to 'OR SHOULD' expand business until we have sustainable job growth. Tax cuts does not create jobs in "THIS GLOBAL" economy. Entrepreneurs will/have take their investments overseas until Mericans can live on $5 a day, to be competitive.

THAT is the crux of the problem and our plutocrats running around in a tizzy fit blaming everyone else is pure bull ####.
Maybe you appreciate the 'drama' but I personally find it insulting.
B) xUT

Like it or not but this is coming from actual business owners and operators. Not life long bureaucrats and politicians. Which one are you going to believe?

If you think more taxes to Washington to spend and waste at their will is the solution, then you are sadly mistaken. Higher taxes have never created a job.

 

[7days]

Perfect example is the billions of taxpayer money spent from the Stimulus on "Shovel Ready Jobs". What happen? Not enough tax money?

 

[xUT]

A boom in corporate profits, a bust in jobs, wages

WASHINGTON (AP) -- Strong second-quarter earnings from McDonald's, General Electric and Caterpillar on Friday are just the latest proof that booming profits have allowed Corporate America to leave the Great Recession far behind.

But millions of ordinary Americans are stranded in a labor market that looks like it's still in recession. Unemployment is stuck at 9.2 percent, two years into what economists call a recovery. Job growth has been slow and wages stagnant.

"I've never seen labor markets this weak in 35 years of research," says Andrew Sum, director of the Center for Labor Market Studies at Northeastern University.

-- U.S. corporations are expanding overseas, not so much at home. McDonalds and Caterpillar said overseas sales growth outperformed the U.S. in the April-June quarter. U.S.-based multinational companies have been focused overseas for years: In the 2000s, they added 2.4 million jobs in foreign countries and cut 2.9 million jobs in the United States, according to the Commerce Department.

-- Back in the U.S., companies are squeezing more productivity out of staffs thinned by layoffs during the Great Recession. They don't need to hire. And they don't need to be generous with pay raises; they know their employees have nowhere else to go.

 

[delldude]

Don't forget the auto bailout and green jobs for overseas jobs....... B)