AYN RAND CENTER FOR INDIVIDUAL RIGHTS
555 12th Street NW, Suite 620 N, Washington, DC 20004
October 9, 2008
Capitalism Without Guilt: The Moral Case for Freedom
Who: Yaron Brook, executive director of the Ayn Rand Center for Individual Rights
What: A talk defending the profit motive and presenting the moral case for laissez-faire capitalism. A Q&A will follow.
Where: National Press Club, 529 14th Street NW, Washington, D.C.
When: Wednesday, October 22, 2008, at 6:30 PM
The public and media are invited. Admission is FREE.
The result of his reactive behavior? Here's what MS disclosed on this front in their 10Q this week: "Subsequent to August 31, 2008, the company’s prime brokerage business experienced significant outflows as clients withdrew some of their cash balances and reallocated positions. These outflows will negatively impact prime brokerage’s operating results in Q4 of fiscal 2008."
- Our price target for MS moved down a penny from Thursday. We're now at $9.02/share.
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Investors, including Warren Buffett, and clients alike must watch what GS and MS do, not what they say. Never mind this ridiculous notion that it’s the evil doer short sellers at fault. That is both alarmist and un-American. Bear, Lehman, Merrill, Morgan, and Goldman all said they didn't need capital, remember? Earlier this week, Lehman’s Dick Fuld appeared in front of the American people. He still couldn’t find it within him to take on 100% of the accountability for Lehman’s demise. If you guys are going to get paid to wear the ‘C’ on your jerseys, let’s get real.
Research Edge is built on 3 core principles: Transparency, Accountability, and Trust. I am issuing an open challenge to the CEO's of these two companies, Goldman Sachs and Morgan Stanley, to come to New Haven, CT, and have a Yale student organized town hall meeting on those three items and how they see them fitting into their current business model. CNBC can televise it, instead of wasting people’s money and time with “Fast Money”. We can start at 6PM, promptly.
Times are changing. Americans are tired of hearing about a Japanese bank taking a stake in Morgan Stanley. How many press releases were issued this week on that front? Too many.
I am sure Americans would appreciate these highly paid CEO's to take a stake in American principles. Crisis creates opportunity, here’s yours guys. Give us a call at , and we’ll set up the debate.
(chart courtesy of StockCharts.com)
"I am very disappointed to have been required to sell substantially all of my shares of Chesapeake," McClendon said... "These involuntary and unexpected sales were precipitated by the extraordinary circumstances of the worldwide financial crisis."
Research Edge LLC
- Chesapeake Energy CEO Aubrey McClendon sells bulk of his stock to meet margin calls
OKLAHOMA CITY (AP) -- Aubrey K. McClendon, chief executive of Chesapeake Energy Corp., has sold the bulk of his stock in the company over the past three days in order to meet margin loan calls, the company said Friday.
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