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Archive for the ‘Bailout’ Category

Hoping For Good Luck, On Friday The 13th

Posted by imrananwar on March 23, 2009

This has been quite an eventful week in New York. The previous few weeks of economic decline, bad financial news, increasing unemployment numbers and other news of global distress had been pushing the New York Stock Exchange consistently and constantly lower and lower.

Things were so bad that people would have preferred a return of the stress-filled yo-yo stock market days, where one at least had a 50-50 chance of making or losing money!

From a high of almost 13,000 the NYSE reached 6500 and there was talk of it even heading lower. There were fears that it might even fall below 6000 before all is said and done.

This decline continued while the flood of bad news also continued unabated. The only silver lining one could see around these ominous dark clouds was that most companies were choosing to do greater layoffs than they need and reducing costs as much as they can.

Even though each job lost is something that can mean the destruction of dreams of a family, sadly, for big businesses it is all a numbers game. Companies generally prefer to dish out all their bad news in one lump rather than dish it out piecemeal. It is generally easier to recover from a massive jolt and negative dip in stock prices over a few weeks or months. It is harder to get over the malaise that can cripple a company’s stock price if the bad news, no matter how small, just keeps coming every few weeks.

What’s that suggests to me, and keep in mind that I’m no financial adviser, is that most companies may be gearing up to have better than expected results at the end of the March quarter. Or, at least results that are less terrible than the market anticipates. Either one of these could potentially mean a rise in stock prices in April.

Even before the end of the quarter, a few pieces of good news have come out. One of them was that Citibank has been profitable for the last two months. This is the giant global behemoth that is one of those banks considered too large to be allowed to fail. This news came shortly after the bank’s stock was trading at as low as one Dollar per share, a far cry from nearly $60 per share it used to be.

Anybody who bought those shares at the ridiculously low price of one Dollar literally made a profit of 35% in one day, as investors suddenly found their greed outweighing their fear.

Financial company stocks in general benefited from this uptick in the stock market. Most major stocks have been rising consistently for the last few days, though I expect some drops as profit-taking starts again.

Even though it is far too early to claim that the market will not plumb new lows, but more than likely, one year from now economists and other so-called experts will analyse and say that the recovery had begun at an anaemic but measurable rate in these weeks.

President Barack Obama and his team have had most of their focus on the American economy – as well as the global recession that still imperils the world. But in the meantime other serious matters of the world continue to demand attention.

As is consistent with Pakistan and its self-destructive ways, once again American media and Pakistan bashers have gotten ample opportunity to raise the specter of Pakistani nuclear weapons falling into the hands of terrorists – should the country spill further into anarchy.

The recent blatant and brazen terrorist attacks in the metropolitan city of Lahore, the despicable attempts to kill the Sri Lankan Cricket team and the evil murder of police officers and innocent bystanders there showed how almost no part of Pakistan is safe. This was an attack obviously not carried out by Taleban type thugs but by some well-organised but equally evil professionally trained gang of killers.

The Taleban continue to remain in the news, especially Pakistan ceding control of Swat and other regions to what are perceived as extremist groups. American drone and missile strikes continue to kill Pakistanis, innocent or otherwise, with disturbing regularity. India continues to rattle its sabers in the guise of demanding justice for the Mumbai attacks. In other words, there is no possible threat, internal or external, military, economic, political or social that Pakistan does not face.

Yet our shameless, spineless, gutless, clueless and witless politicians continue to fight over who sits at the head of the table – while this ship of state is rapidly sinking. Unlike even the Titanic, Pakistan is like a ship whose captain has been aiming it at every single iceberg he can see. On top of that, the ship has been torpedoed from behind. Its own crew is setting fire to cabins and furniture while others are busy looting what they can.

It is no wonder therefore that foreign powers, including America, find that the only way to control Pakistan, even to keep it from self-destructing, is to manage it not as friends but as masters. And, Pakistani politicians are quite OK with that.

From politicians, I want to shift to lawyers. Every country in the world has its share of lawyer jokes. For the last one year, and once again this month, it happens to be Pakistan’s lawyers and barristers, who have taken up the challenge to restore democracy and justice.

A profession that relies not on regular salaries but on almost daily work in the courthouse has once again stepped up, at great cost to its self, economically, professionally, personally. Today I must salute the lawyers and other professionals of Pakistan, not just for bringing down one dictator, but for ensuring that Pakistanis as a nation see that they can choose and control what the government can or cannot do when an elected person tries to act as a dictator.

Will democracy rule or will Pakistan sink into the abyss of chaos and anarchy?

The fact that things have come to this stage in itself is a tragedy. For the first time in more than 60 years we had an opportunity to establish state institutions. This was a historic opportunity because so many forces lined up in a once in a century series of events. The sacrifice of Benazir Bhutto, the professionalism of General Kayani, the sensibility of some political leaders and the great courage of Chief Justice Iftikhar Choudhry and fellow judges. Rarely had so many forces lined up to restore true democracy to Pakistan. And, sadly, rarely have historic opportunities of such greatness been grasped in Pakistan.

As I am writing these lines in New York – on this 13th of March – I am hoping for some good luck for Pakistan. The only positive news is that some sort of compromise may be in the works in Islamabad. I, like millions of Pakistanis, can only hope and pray for that miracle and some Good Luck, today, on Friday The 13th.


This article was in client publications on Friday the 13th, 2009.

Imran Anwar is a New York based Pakistani-American entrepreneur, Internet pioneer, inventor, writer and TV personality. He can be reached through his web site http://imran.com and imran@imran.com . You can follow him on Twitter at http://twitter.com/imrananwar

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Posted in 2009, America, Americans, Army, Asif Zardari, Assassination, Bailout, Bank, Banking, Barack Obama, Benazir, Benazir Bhutto, Bhutto, Constitution, Democracy, Dictatorship, Economic Recovery, Economy, Elections, Free Speech, Freedom, Future, General, Hypocrisy, Imran, Imran Anwar, IMRAN.TV, ImranAnwar, In My Humble Opinion, Justice, Musharaff, Nawaz Sharif, New York, News, Newspapers, Pakistan, President, Stocks, Supreme Court, Terrorism, Washington | Tagged: , , , , , , , , , , , , , , , , , | Leave a Comment »

IMRAN Economic Recovery Plan – Do You Need Help In This Economy? – “Help Us Help US”

Posted by imrananwar on January 8, 2009

Are things looking bad in this economy? Who’s bailing you out? Could you use $25,000 right about now?

Here is a working plan that will save us and the US.

Financial deregulation started under the Clinton era and, through the terrible mismanagement under George W. Bush, the economy melted. Now TRILLIONS of Dollars were given away by Bush to bailout industries that put you, me and our entire economy at risk. Even failing carmakers are getting Billions. Are you getting a dime?

Obama has good ideas but they are not enough to do anything for you, for us, for the US in the immediate situation. We need help NOW.

Here is the IMRAN Economic Recovery Plan.

It provides a specific way to trigger an economic recovery within 90 days. Ninety Days, not 9 months or 9 years.

Imran Anwar ( http://imran.com/media/blog/ ) explains the plan and the specifics on how it would work. Using a simple example with numbers, he shows how much money you would get, how you can spend it to stabilize your situation and help the economy. Finally, he explains how the government gets the money back – so we are not all paying trillions in higher taxes for money that makes bankers and other failed executives even richer at our expense while we lose homes, jobs, cars and our future.

This plan ensures legal American residents, citizens and taxpayers are bailed out. They can spend money on American businesses, so more Americans can be hired and the American government can get tax revenues again to ensure a stronger future for AMERICANS.

Would $25,000 to $30,000 help you today? If you want to get help, do something. Take action. It’s easy.

Please tell everyone you know about this ERP (Economic Recovery Plan).

Please share on FaceBook, MySpace, your blog, Twitter, Digg, StumbleUpon… call in on radio shows, email TV programs and hosts that you like. Write letters to editors.

If you don’t take action, no one will bail you out but you will be paying for years for money given away to bankers, oil companies, automakers and other sleazy businesses. It’s your choice. Watch now and please rate it positively so others can hear the idea and support it. Help Us Help US!

Tags: Economy, Recovery, Bailout, Banks, Banking, Taxes, Tax, Bush, Clinton, Obama, Money, Borrow, Buy, Shopping, IMRAN, “Imran Anwar”, ImranAnwar, IMRAN.TV, “Economic Recovery Plan”, HelpUsHelpUS

Posted in America, Automakers, Automobiles, Bailout, Bank, Barack Obama, Bill Clinton, Bush, Business, Citibank, Clinton, Congress, Consumers, Credit, Credit Cards, Democrats, Deregulation, Detroit, Economic Recovery, Economy, Entrepreneur, Future, George Bush, Globalization, Imran, Imran Anwar, IMRAN.TV, In My Humble Opinion, Innovation, Loan, Merchants, Obama, Opportunity, Republicans, Rescue, Socialism, Strategy, Treasury, USA, Video, Washington, Wealth | Leave a Comment »

Playing Games With The Future

Posted by imrananwar on November 21, 2008

Part 2: Playing Games With The Future

By Imran Anwar

In the previous column we were analyzing how the Republican Party and defeated politicians play the blame the media game. Even though President-elect Barack Obama has won the election, there are many months before he can even more into the White House. He is busy putting together his team and trying to arrange for a smooth transition from the current administration.

We are looking forward to seeing capable, strong, respected, intelligent and competent people to get lots of Cabinet and administrative positions. In other words, we are expecting from the Obama administration what we did not have in the Bush administration!

In the meantime, lame duck president George W. Bush cannot seem to wipe the glee of his face in that his disastrous presidency is coming to an end. He still does not seem to understand the serious damage he has done to America, Americans, the world and America’s standing in the world. He is just acting as if a juvenile, who had been given the responsibility for managing a dorm for a few weeks, is glad that he can go back to partying and having a good time. Texas ranch, here I come!

His team of incompetent, and sometimes corrupt, officials continues to wreak havoc on the nation and the global economy. Secretary Hank Paulson in particular has been spectacular in his inability, apparent poor judgment and lack of good decision-making. It seems that every time he opens his mouth the stock market will drop 200-500 points. Call that the financial equivalent of Hurricane Katrina, another Bush disaster legacy of rewarding failure and incompetence.

As I have written before, the world faces grave financial crises, which need both liquidity and a return of credit and consumer confidence. Paulson does not seem to know how to provide either one. First he disagreed with the good decisions that were being made by other central bankers around the world. Then he agreed with them and said he would follow them.

Then he announced that the government would use the bailout money from taxpayers to buy bad assets, or bad loans, from banks and financial institutions. In effect, he proposed rewarding poorly managed companies run by greedy and crooked executives, while saddling the taxpayer and the American economy with trillions of dollars in liabilities.

When the market had finally adjusted to this, dumb as it was, idea – he roiled the markets again. He did this, in effect, by saying, oops, that’s not what he was planning to do. He then proposed finding some new way to give the money not to the financial institutions that are melting, and could sink the entire global economy with them, but consumers who have high credit card debt.

As was to be expected, the bank stocks that were starting to stabilize took a massive new beating. The entire stock market dropped precipitously again. Thanks, Hank.

An interesting news item related to this financial crisis is that opinionated, big mouth, gold and daring movie producer Michael Moore (who had done great exposes on Bush, 9/11, the war on terror, the US auto industry, US health-care, etc.) has announced that he will be making another movie.

This time he will follow up to his previous successes with a movie exposing the games and players that made up the current financial mess. Hopefully, he will expose their endgame as being something that America and the world cannot afford to play.

News reports still continue to comment on how major American corporations, financial institutions, and insurance companies that have their hands stretched out asking for taxpayer bailout still continue to shamelessly spend money on unbelievable expenses.

AIG is the worst culprit of them all. There have been documented cases of more than one expensive, unnecessary and in your face lavish events that this company has continued to hold for its executives.

This company is getting some of the biggest handouts in corporate, financial and global history, already exceeding the $100 billion, yet its executives are dining out on $400 steakhouse dinners, staying in two-storey resort bungalows – while having massage and spa treatment instead of attending the so-called necessary conference costing nearly half a million Dollars! I wonder where I can apply for one of these jobs. I love steak, my shoulders are tight and I sure could use some R&R at taxpayer expense.

I have to give credit to my fellow media professional, the respected TV anchor, Lou Dobbs of CNN for not letting go of the story – despite the bold-faced explanations of the AIG CEO on the lame Larry King Show.

There is one story, however, that I do not think anyone is investigating at least now. It would be so great if CNN, the New York Times or the Washington Post – all the great American institutions – would spend some resources on investigating, in-depth, the major stock trades that took place during the last few months.

I do not have any proof to level a formal complaint or accusation, yet. But, I have a hunch that all was not as it appeared.

I hope that future historians, investigators, and congressional committees will investigate what I am going to say in more depth. I wonder, no, I ask: Was the stock market being manipulated by M/s Paulson, Bush officials and their cronies? What do you think?

While it seems hard to imagine, I do not put it past the friends of evil genius Karl Rove to let the United States economy fall into a new great depression.

Students of the Great Depression and its causes, including Secretary Paulson, and Karl Rove, know that it can take four years or more for an economy to come back from a giant depression.

That means, conceivably it is possible to sabotage an Obama presidency even before he takes office! They could do this while setting the stage for the economy to still be in bad shape when the Republicans make the next bid for the White House in 2012.

I hope I am wrong, but American politicians have been guilty of far worse crimes, against their own people.

Imran Anwar is a New York and Miami based Pakistani-American entrepreneur, Internet pioneer, inventor, writer and TV personality. He can be reached through his web site http://imran.com and imran@imran.com. You can follow him on Twitter at http://twitter.com/imrananwar

Posted in America, Bailout, Barack Obama, Bush, CNN, Crisis, Economy, Finance, Future, George Bush, Imran, Imran Anwar, Movies, Obama, Paulson, Stocks, Treasury | Leave a Comment »

 
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