Goldman Sachs sent out a press release to announce it came to its senses and exercised “restraint” with its 2009 bonus pool. The so-called commercial bank “limited” its $16.2 billion bonus pool to 35.8% of revenue, down from 48% in 2008. Excuse me while I reach for my airsick bag.
This fake mea culpa should in [...]
What price, stability?
The Merrill Lynch MOVE index of Treasury Bill volatility. Click to enlarge.
The Governor is going to propose once again reducing the expenses of education and cutting medicaid spending. It seems that the engine that ran the State, Wall Street, is no longer paying what it once did. Since we long ago got rid of manufacturing in New York, we now have nothing to replace [...]
The Bureau of Labor Statistice, http://www.bls.gov/news.release/empsit.nr0.htm, stated on October 2, 2009, that since the recession began in December, 2007, 7,600,000 jobs have been lost, 4,453,000 of them since November, 2008. Today the government reported that the governments stimulus program has created approximately 30,000 new jobs. At that rate, from November, 08 to September, 09 the [...]
Over the last two decades, much has been made about Wall Street firms attracting the best young intellectual talent from our nation’s top colleges and universities. In a different era, the business, finance and economics majors were funneled into management training programs at General Electric or IBM. Engineering majors designed planes for Boeing, weapons for [...]keep looking »