This is the gang that is going to save the world economy?

World leaders watching Champions League final on Saturday at Camp David
World leaders watching Champions League final on Saturday at Camp David, White House photo Pete D’Souza

This is the gang that is going to save the world? From the Guardian:

It is understood that [British P.M. David] Cameron [arms lifted, above] regarded the quality of the discussion as one of the best he had heard from European leaders for more than a year, even if it produced little tangible in the short term.

About Bruce Wolman

Bruce Wolman is a citizen journalist who has lived in Norway and the Washington area.
Posted in US Politics

{ 9 comments... read them below or add one }

  1. let me guess..they are watching the soccer championship…

    edit, now i see the photo caption..it’s so obvious

  2. pabelmont says:

    Football (soccer) is not the right game for these folks. The right “game” (not yet to be named in MSM) is

    >>> public corruption to capital v. the common good.
    >>> a/k/a the “racism” of BIG-CAPITAL against people everywhere

    The people who live in the EU are beginning to see that government subservience to the demands of the (generally unfettered) banks, and especially the demand for “austerity” — which the USA sees more and more of, despite its largesse to BIG-ARMS and BIG-WAR and BIG-BANKS and BIG-ZION — is unacceptable as well as counter-productive of anything other than short-term enrichment of the various BIGS.

    I look for a turn-around in EU and, sadly much later, in USA. Will these bozos wave their arms in the air and shout (or hold their heads in pain) if and when the banks are brought down (or downward) and the people’s needs are at long last considered?

  3. American says:

    Speaking of little tangible. I have been amazed at the ‘social media’ as the next big WS thing because there is no underlying value there unless you can sell it, as in charge enough for it. Market Hype does not produce long term profit.

    Facebook – Upside down

    On May 18, the Nasdaq IPO of Facebook made headlines around the world. The IPO price of its share was $38; yet, at the trade opening time it was traded at $42.43, it jumped to $43, and then dropped to the starting point of $38. The underwriters supported the stock at this level and caused it to rally back to $41.50. However, by the end of the day, the stock was barely above $38. At this price, Facebook’s market capitalization is around $81 billion. It was the third-highest IPO-day valuation in history, behind only the $19.7 billion raised by Visa in March 2008 and the $18.1 billion raised by General Motors in November 2010. More than 80 million shares changed hands in the first 30 seconds of trading. By the end of the day, around 567 million shares had changed hands. This set a new volume record for IPOs; the previous one was held by General Motors. These numbers are very impressive; however, there are clear hints that we have seen a very clumsy operation by Mark Zuckerberg; it seems he isn’t exactly what he claims to be.

    One way of understanding Facebook IPO is as an hysterical success, after all, Facebook barely makes any profits from its customers. Yet, most traders do not react directly to economic data; they speak about “support levels” and “expectations.” A company featuring bad economic data may still see its stock rise if there is a positive sentiment attached to it. Other way of analyzing Facebook’s IPO, is as a colossal failure. The underwriters were forced to support the stock during the trade, and at the end of the day it was barely over its base level. This creates a bad aura around this share that many expected to become the next Superman of Nasdaq. Business Insider posted a poll asking readers where they thought the $38 stock would be by the end of Friday. In the morning of the IPO day, 15% said under $35. The biggest cluster of respondents said somewhere between $40 and 55. 10% predicted the stock would reach over $90 a share. Facebook, ended the day at its starting price, below $40. Most investors will analyze this as disappointing, and would probably shun this new white-elephant. The company doesn’t sell enough, and the market sentiment towards it is not good. ‘

    Facebook breaks its IPO price, falls sharply in morning trading

    Washington Post‎ – by Hayley Tsukayama‎ – 25 minutes ago

    The Facebook debut was one of the most highly anticipated IPOs of the year, but it failed to wow investors on Friday, closing just 32 cents …

    Why Wall Street’s Usually Well-Oiled Machine Failed To Deliver Bonanza to Facebook’s First-Call Big Institutional …

    Forbes‎ – 1 hour ago
    Nasdaq trips Facebook, so what will investors say?

    CBS News‎ – 1 hour ago
    The Failure of Facebook’s IPO – Forbes

    http://www.forbes.com/sites/timworstall/…/the-failure-of-facebooks-ipo/
    1 day ago – It might sound a little strange claiming that a company which has just launched a huge IPO has in some way failed. Yet looking around at the…

    If anyone here bought this dog, sell it and cut your lose now.

  4. Dan Crowther says:

    Ive never seen a German emote like Merkel here in this picture……. :)

    • Citizen says:

      Merkel has been by far the most uncomfortable of the big leaders gathered together; she looks like she’s carrying the weight of the world on her shoulders, the only one there without a single hole card. Obama tried to charm her, but she stayed reserved, and even backed away from him.

  5. @Bruce

    This is the gang that is going to save the world economy?

    “Gang” is the perfect description for this collective.

  6. dbroncos says:

    The banks are paying them to watch soccer. No, wait, we’re paying them to watch soccer!