Wednesday, July 4, 2012

Investigate Microsoft!

Remember all the dustup over the $2b loss at Chase? The media had a feeding frenzy. Congress investigated with Jaime Dimon genuflecting and making the appropriate mea culpas. Congress called for more legislation and stricter enforcement of Dodd-Frank. Of course, it was much ado about nothing. The loss was in the investment bank and did not imperil the commercial bank. But hey, who cares about the facts? Now Microsoft has announced that it is booking a $6.2 billion charge for losing money on its Bing search engine and a $6.3b loss on its aQuantive acquisition. That's $12.5b or 6 times the loss at Chase. So where is the media frenzy? Where are the calls for Steve Ballmer's head? Where is the congressional call for an investigation? Instead what do we get? Silence.

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