As well as being the biggest F’ing title ever seen on a WordPress blog, it drew attention to the debacle that was the much heralded launch of Facebook shares on the stock market.
Well, the fallout from what is now being called the IPOcalypse continues.
The head honcho at Nasdaq has had his CEO’s bonus slashed because of it, and rightly so.
But don’t start feeling sorry him just yet. Even with a slash he will still be taking home a $1.3m bonus, slightly north of half a million dollars lighter than it would have been, but still enough to get by on.
Oh yes, and that’s bonus on top of his $1 million salary!
Others at Nasdaq have also been penalized, including Anna Ewing, VP in charge of “technical glitches” that messed up the first day of trading. Her bonus was cut by over a quarter of a million dollars. But keep those hankies where they are, she is still left with a $574,125 bonus for the year.
Losses for angry brokers and traders from the botched IPO, on the other hand, have been estimated at around $500m. Nasdaq has approved just $62m in compensation, I suppose they needed the rest of their money to pay out the bonuses?
Like the banksters, it all begs the question of just how incompetent do you have to be in the financial industry to not just lose your bonus, but lose your job as well?
Anyone who has been following this story that I posted about a few days ago, (here if you missed it), will know that the European Union bureaucrats made an attempt to steal the savings of the Cypriot people right out of their bank accounts.
With at least one eye on their chances of being re-elected, the Cypriot parliament rejected the proposal out of hand. The proper thing to do no doubt, but there is also no doubt that this will not be the end of it. Indeed the fallout continues.
Western governments are desperate because of the financial mess that they and their bankster accomplices have created. And desperate governments are known to take desperate measures to try to patch things up.
Look out for more attempts by these governments to steal your money, whether it be in the form of savings in the bank, government bonds, stocks or in pension plans. Nothing is safe from the clutches of these thieves.
The goings on in Cyprus has already proven their intent and alarm bells have begun to sound among those who are awake and paying attention.The bureaucrats’ attempted money grab has already sparked off suspicion and panic throughout Europe and elsewhere as to the amount of trust people can have in their governments.
Even among the financially stronger nations the trend is clear. In Germany, for example, a recent opinion poll showed that the majority of Germans do not trust their leader, Merkel’s, pronouncements that their money is safe in a bank.
Throughout Europe those who can are moving their money to offshore locations away from the thieving hands of their own governments. Big corporations, including US corporations, are doing the same.It has already happened in Ireland and Spain and France and, to a lesser extent, in the UK too.
What a sad commentary on how these stupid politicians and bureaucrats have mismanaged our affairs.
Will it hit America as well?
That depends just how stupid the political administration in Washington really is – which is perhaps a kind way of saying, please err on the side of caution if you are an American citizen.
The $ as a currency will probably be okay for a while, despite the humongous debt that Obama is piling up, but eventually it will become impossible to print their way out of trouble.
All those highly paid morons and herd followers called ‘money managers’ who work for the various funds that you entrust your savings and pensions to, and who do little more than buy up T-Bills with it, may find that their strategy is going to backfire. Like the banksters, however, they will still charge you a fee for looking after your money whether they invest it wisely or lose it all.
But whilst the bureaucrats will never be able to figure out how to run an economy – their, “take more and more taxes out of less and less income” strategy will never add up – eventually the penny will drop with the good citizens and they will waken up and realize they have been completely shafted by incompetent politicians and greedy banksters.
Then the brown stuff will hit the fan – big time – and people will get real mad. And then the powers that be will have no choice but to turn on their own citizens if they are to cling to power. Preparations for this started under Bush and now Obama has added even more legislation to make this possible.
It is a rather bleak scenario, particularly for those who choose to ignore what is happening around them. But whether it happens in one year or another five, if the politicians and bureaucrats do not wise up – and their is little sign of them doing that especially when they have yet to realize how incompetent they are – it will happen.
So start to think seriously about your own circumstances and what you can do to protect what you have from thieving governments. Or just settle down and get another 40 winks assured in the knowledge that those in Washington, Brussels, London and Berlin know what they’re doing.