Sprint labeled one of the "9 Great American Companies That Will Never Recover"

There's an article out right now, showing the companies that won't likely come back from the 2008 financial crush.

One of them is, as the title says, our own Sprint company is one of them:

"24/7 Wall St. has compiled a list of these companies that won't be making comebacks -- names that you know well, but that will never be leaders again."

What they have to say about them:

Sprint finally posted some reasonably good results recently. However, these could not mask the fact that the No. 3 wireless carrier is too small to ever really compete with AT&T and Verizon Wireless.

Sprint's $35 billion Nextel purchase in 2004 can be seen in retrospect as a key blunder. Their networks ran on different platforms, and integration issues drove customers away from the combined company. Sprint made the MSN "Customer Service Hall of Shame" several times, most recently in 2010. Its customer service has improved significantly since then, but the damage had been done.

Sprint's revenue has fallen from $41.1 billion in 2007 to $33.7 billion last year. It now has about 50 million subscribers to Verizon's 104 million and AT&T's 95 million. As a Morningstar researcher recently noted, "While Sprint has struggled, Verizon Wireless and AT&T have benefited at its expense. Fending off these much larger rivals will be increasingly difficult as data services become more important to the industry."

Not good. Not good at all.

Some of the other companies: Band of America, Dell Computer, Barnes & Noble and The New York Times.

Link: http://www.dailyfinance.com/2012/08/01/9-great-american-companies-that-will-never-recover/?icid=maing-grid7%7Chp-laptop%7Cdl2%7Csec1_lnk3%26pLid%3D188353#photo-6

And you're angry at THIS president and his administration?

I don't care who you are, whether you're a Conservative, a Republican, an independent, Tea Party member, Libertarian, whomever, if you're in any way angry at this president and his administration for what you see as going into "Socialism" and "big government" and a social-welfare state, honey, you have another think coming.

Yes, come with me now as we once again look back on that last administration and what they and the Fed did for big business, specifically the big banks in this country and around the world.  Let's put this current administration into perspective.

That last administration, via Mr. Bernanke and now former Treasury Secretary Hank Paulson did with our government--and our money.

They gave the following low-interest loans to the following companies, and in these amounts:

Goldman Sachs received nearly $600 billion; 

Morgan Stanley received nearly $2 trillion; 

Citigroup received $1.8 trillion; 

Bear Stearns, received nearly $1 trillion, 

Merrill Lynch, received some $1.5 trillion in short term loans from the Fed.

From Senator Bernie Sanders (Independent, VT) today at The Huffington Post:

We also learned that the Fed's multi-trillion bailout was not limited to Wall Street and big banks, but that some of the largest corporations in this country also received a very substantial bailout. Among those are General Electric, McDonald's, Caterpillar, Harley Davidson, Toyota and Verizon.

Perhaps most surprising is the huge sum that went to bail out foreign private banks and corporations including two European megabanks -- Deutsche Bank and Credit Suisse -- which were the largest beneficiaries of the Fed's purchase of mortgage-backed securities.

Deutsche Bank, a German lender, sold the Fed more than $290 billion worth of mortgage securities. Credit Suisse, a Swiss bank, sold the Fed more than $287 billion in mortgage bonds.

Senator Sanders asks a very pertinent question:  Has the Federal Reserve of the United States become the central bank of the world?

Mind you, that last administration kept all this quiet and totally out of the public's knowledge until only recently because Sen. Sanders had to put into law a provision, asking for a breakdown of just what exactly was given to whom but for all the complainers and haters out there, of this administration, I ask you--where was your outrage back when the ultra-white and very-privileged George W. Bush and Co. were spending like drunken sailors and starting pre-emptive and illegal wars, all in our name?

If you're going to be raising hell about something, you ought to be raising it about the guy who gave over the candy store to the rich fatcats, not the guy who is, now, trying to stand up for the everybody else in the country and not the wealthiest top tier.

You knuckleheads.

Link to original post:  http://www.huffingtonpost.com/rep-bernie-sanders/a-real-jaw-dropper-at-the_b_791091.html

What I've been saying

Pimco: U.S. bank system capital insufficient

Fri Sep 12, 2008 5:38pm EDT
By Jennifer Ablan

NEW YORK (Reuters) - Mohamed El-Erian, the chief executive of top bond fund Pimco, said on Friday that the U.S. banking system doesn't have enough money to weather the current credit crunch related to massive mortgage-related losses.

Complete article here: http://www.reuters.com/article/ousiv/idUSN1244742820080912
_________________________________________________________

This is what I've been saying.

When you consider the takeover of both Fannie Mae and Freedie Mac, add in the 11 banks that have already failed this year (that one last week, remember, in Nevada, is expected to cost 500 million dollars alone), Bear Stearns, Lehman Brothers next and then the other 116 banks that are on the FDIC's list of "troubled" banks, folks, we ain't got enough money.

That's right.

The United States of America doesn't have enough money, ladies and gentlemen.

Hang on to your seats.

Oh, and the driver of the bus is asleep at the wheel.

But don't panic.

(P.S. Merrill Lynch is crumbling now, too.)

How far is this going?

And where do we say "stop!"?

Lehman Brothers' situation keeps getting worse and worse. They're going to start selling off portions of the company.

All well and good, right?

But I heard on the radio this morning (NPR, of course), that the government may have to go in and bail them out.

Sound familiar?

It seems we keep going through this again and again lately.

This on top of taking over 11 failed banks this year, so far, Fannie Mae and Freddie Mac and Bear Stearns.

So next is Lehman Brothers?

Sure glad we're a capitalistic system, aren't you?

In the same radio story, it told of both former car giants Ford and GM going to the Feds to ask for "low interest loans", to get them through their rough spots--which they created, of course.

Holy cow.

Where does it stop?

At what point are we either going to say "enough!" or just give up and admit we're a socialistic country?

If we're going to do socialism and the government is going to own business, let's have them buy the health care and energy systems (oil, in particular) and call it a day.

THAT we'd benefit from.

But not cars--not the auto industry.

What kind of system are we running here, exactly?

News flash: we can't afford all of this.