I'm listening to the radio on the way in to work this morning and am reminded of why I haven't - and will likely never be without my outrage blog.
Let me see if I got this straight. AllState sues Bank of America over "misleading" it re: the risks around the Countrywide mortgage business. And in return, the wisenheimers on Wall Street have spoken: AllState stock is DOWN 7 cents - while BofA is UP 6 cents. (I'll check back after trading closes today but good gawd...)
I know I don't have the full story here - and I know both AllState and BofA as corporations rank right up their with the Evil Empires of the Universe. But seriously. The company that's accused of lying profits - while the whistleblower suffers? The outrage renders me speechless. Well, almost speechless.
Once again, let's just move Wall Street out to Las Vegas. Replace the ticker tape with a roulette wheel. And see who profits. If that only helps Las Vegas real estate, at least that's something.
No comments:
Post a Comment