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.
From the NY Times today we read of a new Bill to regulate the Markets.Today the House of Representatives passed legislation aimed at curbing the worst excesses of Wall Street. The bill would “…create a new consumer financial-protection agency to squelch unfair and abusive practices; and for the first time, regulate over-the-counter derivatives markets. The [...]
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 [...]keep looking »