![]()
- Global Selloff From Dubai Shows Signs of Winding Down
- Dubai Stock Selloff May Bring Buying Opportunity
- Tiger Woods Out of Hospital After Accident
- Dubai Fallout Is a Correction, Not Another Crisis: El-Erian
- Dubai's Debt Woes Signal New Era for Creditors
- Get Paid Six Figures to Wear a T-Shirt?
- The World's Biggest Debtor Nations
- Five Tips for Buying a Foreclosed Home
- Slideshow: Fantasy Christmas Gifts 2009
- U.S. Stocks Fall on Dubai Worries
- Black Friday at Best Buy
- Strategists on Dubai: Avoid 'Rash Moves' Now
- Longer Lines, Fuller Carts This Black Friday
- Dubai Stock Market Fear Has 'Legs': Dennis Gartman
- Obama's Emission Reduction Pledge Paints Future for Autos
- Is Super Bowl Halftime Act Too Old?
- Surprising Options Trades in TiVo Shares
- EA Sports Hopes to Pump Up Sales Through Pop-Up Locations
MOST SHARED
- Tiger Woods Out of Hospital After Accident
- 8 Retailers that Gain During the Holidays
- Get Paid Six Figures to Wear a T-Shirt?
- Dubai Spooks Investors But May Bring Buying Opportunity
- The Good Entrepreneur Winner
- Finding the Holiday's Best Buys
- Global Selloff From Dubai Woes Shows Signs of Winding Down
- Dubai Fallout Is a Correction, Not Another Crisis: El-Erian
- Longer Lines, Fuller Carts This Black Friday
- Banks Play Down Dubai Exposure, Investors Still Wary
Oil companies are fixing the price of oil and should suffer penalties, according to developer Donald Trump.
![]() |
Donald Trump |
Speaking on CNBC this morning, the real estate magnate said taking punitive measures against companies reaping big profits in a capitalist society is against his nature, but the energy situation is unique.
"I consider myself to be a great capitalist, but I think the oil companies have been ripping off this country and the world for a long time," Trump said. "I can see doing something against the oil companies. They're making numbers--nobody's ever seen numbers like this. They and OPEC and lots of people together are having a lot of fun."
Trump also said the US economy is at depression levels in terms of real estate, but he nevertheless has used the drivedown in prices as a buying opportunity.
"Outside of Manhattan the United States is closed down," he said. "I've built up a lot of cash, and what I'm doing is going around and buying things that two or three years ago were absolutely impossible to buy."
To help the country out of its economic slump Trump recommended keeping the dollar cheap and not raising taxes, a point he made in a discussion about the difference between presidential candidates Barack Obama, the Democratic nominee, and Republican John McCain. Obama generally favors raising taxes on top earners and large companies, which McCain opposes.
"Raising taxes at this very critical juncture would be a very bad thing for the economy," Trump said.
He also commented on tight monetary policy by banks, which have been hesitant to loan money even though the Federal Reserve has dropped interest rates dramatically over the past nine months.
"The banks are virtually out of business," he said. "The banks are not loaning money, and no matter how strong you are, no matter how strong your cash position, it doesn't make any difference. It's very, very hard if not impossible to get any money."
- These four sectors will be the next to lead the market.
- Zhu Zhu Pets are this year's must-have toy, fetching $40 or more on eBay.
- From the why-didn’t-I-think-of-that file, we present Jason Sadler, a man whose job is wearing T-shirts.
- It may be the most unusual guide to business you'll read.
- Shopping for a gadget hound? The choices can be baffling. Here are a few that should be a hit.
- "The Who" will be the halftime act for Super Bowl XLIV on Feb. 7 in Miami. Is the NFL behind the times?












