Where has the money gone?

[classicman]

Originally Posted by tw

Zengum asked 'when did the money go'. So accurate. It completely answered this topmost question.

Did the money actually exist? That is the question. This whole boom started without many REAL assets to back it up, then those that were real were leveraged way beyond their actual value. Is that a real worth? Or just smoke? I think I smell something burning...

[tw]

Originally Posted by classicman

Did the money actually exist? That is the question.

Invent assets with Enron accounting and money games. Take a paltry $67million bonus because the company did not do too well this year. Money clearly existed where it was "important". Suddenly, when real funds no longer exist, what does the company do? Go after the guy who signed off on Enron accounting? Or run to the government for protection?

Let's see. George Jr's administration refused to prosecute Enron until all but embarrassed by the State of Oklahoma. Clearly the money existed where it was important.

Meanwhile, because he was doing so much good for GM, Rick Wagoner got a 34% in 2006 and a 67% increase in 2007. This money clearly exists. No problem. The government will now pay for the ROI that cannot exist because Rick Wagoner (like Nardelli) have a long and well proven history of decreasing profits. But the money did exist in their paychecks. Nothing else matters.