Robert Reich: Higher corporate profits no longer lead to higher employment. We’re witnessing a great decoupling of company profits from jobs.
Jim Fuller: Take it from a guy who spent decades reporting for magazines and major newspapers on both government agencies and businesses of all sizes, up to and including giant international corporations: You seldom will encounter a government bureaucracy as inefficient and hidebound as that of a typical giant corporation, nor will you ever run into a government bureaucrat so out of touch with the world most of us live in as anyone who lives within the top four or five layers of corporate leadership.
Let’s be clear: Wall Street today is up to the same tricks it was playing before its near-death experience: Derivatives, derivatives of derivatives, fancy-dance trading schemes, high-risk bets. “Our model really never changed, we’ve said very consistently that our business model remained the same,” says Goldman Sach’s chief financial officer.