Solving New York State’s Fiscal Crisis

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 Wall Street Draft: How to Revive Interest in a Financial Career among Students

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 [...]

The “Best Men” for the job

There’s been quite a lot written about executive compensation now that Obama has made it clear the banks accepting government money will only be allowed to pay $500k in cash to their chiefs (it’s a bit more complicated than that, but whatever).
The push back is that companies can’t get the best people for those prices. [...]

The U.S. economy is not OK

It’s difficult for me to convince friends that the U.S. economic outlook is bleak bleak bleak and we are going into a recession.
Partially, this is because my friends and I all live in and around Manhattan where everything is sunny and wonderful (uh, except for all the bankers getting laid off). Most of the [...]