WSJ paints ugly picture for Evansville’s Springleaf

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The Wall Street Journal in an article today painted a very nasty picture of how things are going for Evansville based Springleaf Financial. For a number of factors including a large looming debt payment and their own difficulty with finding financing the following article was written.

http://online.wsj.com/article/SB10001424052702304724404577295840817806070.html

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3 COMMENTS

  1. It makes me sick when I recall sitting through meeting after meeting of the Evansville Redevelopment Commission where multiple agenda items were passed each time concerning American General’s Incentive Package.

    All the taxpayer funded buying of buildings and land for their expansion, the demolition and site preparation, and all the tax incentives have been wasted.

    We will never be told just how much money has been wasted on this project. American General is just another victim of a handful of greedy bastards on Wall Street who had enough financial clout to get the Congress of The United States to repeal the Glass Steagall Act and replace it with one of their own design called The Financial Services Modernization Act of 1999, the same year they repealed Glass Steagall.

    James R. Cook, in his novel Full Faith & Credit, copyright 1999, must be a savant in order to have written so accurate a description in chapter 21 of what was coming.

    Byron Dorgan also saw it coming:

    http://youtu.be/w2nZbo8SKbg

    and yet today many of the same people who caused the current depression are in the same investment houses and taxpayer dollars have kept them their!

    I know the public has an inherent desire to get along with people, but really folks, these bastards are using you as a doormat and it is past time that they be given the boot!

    __

  2. American General was used by wall street to guarantee the housing market crash. They wrote the insurance for sub prime mortgage and took the bath while CITI, J P Morgan, Stanley all walked away with the money from AIG and Tax Payers. When are we going to ask for our pound of flesh. They already got theirs.

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