Why You Should Work for a Hedge Fund

jacuzzi

Just because I lost a big chunk of my total retirement savings over the last year doesn’t mean I should be upset that 25 hedge-fund managers reaped a total of $11.6 billion during the same interval, according to Institutional Investor’s Alpha Magazine — including $2.5 billion for James Simons of Renaissance Technologies and $2 billion […]

AIG Bonuses: Don’t Hate the Player, Hate the Game

jasmyne cannick

I watched this week as the nation’s furor turned towards employees of insurance giant American International Group (A.I.G.) and the $200 million-plus in retention bonus payments recently doled out to executives. Executives, who, as we already know, are largely to blame for their role in A.I.G.’s financial crisis that led to the country’s economic meltdown […]

AIG and the Undeserving Rich

dry-bones

Charles Blow, the “moderate” who seems to write a lot of words but never takes a clear stand on anything, recently lamented on the op-ed page of the New York Times about what a small matter the $165 million in bonuses really were compared to the $170 billion AIG received in government welfare. Sheryl Gay […]

The Rich Countries’ Faltering “United Front”

crisis8

By now we’ve heard “The worst economic crisis since the 1930s” – or words to that effect – so many times it’s become like a mantra. But as the days roll on it begins to appear that it might just be an understatement and that not only does the economic situation appear more like the […]

Unreliable Immigration Data Is Out of Date and Context

andrea_nill

Newspaper and television are running a narrow story quoting out-of-date and out-of-context data prepared by the immigration restrictionist group, the Center for Immigration Studies (CIS), who is alleging that 300,000 “illegal immigrants” will benefit from jobs created by the recently-approved economic stimulus plan. Unfortunately, these stories provide no counter-analysis from other research groups or experts […]

R-E-S-P-E-C-T

murdock

Recently, Rupert Murdoch, chairman of the New York Post, personally apologized for a recent cartoon by Sean Delonas, nicknamed by some “the Picasso of Prejudice”. The cartoon, which depicted a chimpanzee being shot by the police after mauling a woman, captioned “They’ll have to find someone else to write the next stimulus bill”. Shown here […]

Neo-Confederacy Erupts with Governors’ Rejection of Stimulus Money

southerngovernors

Southern Republican Governors Haley Barbour of Mississippi, Bobby Jindal of Louisiana, Rick Perry of Texas, and Mark Sanford of South Carolina are making noises about “refusing” federal dollars from President Barack Obama’s economic stimulus package. They are posturing in a way reminiscent of an earlier generation of Southern governors who stood for “states’ rights,” which […]

Madoff, Stanford, Ponzi and the Media

questionable ethics

Few had heard the name Bernard (Bernie) Madoff, as recently as two months ago. An equally small group was familiar with the term “Ponzi Scheme” when the Madoff scandal broke. And now there is the Sir R. Allen Stanford scandal. Now, in this era of keen observance to rules of fiscal prudence where the public […]

Republicans: Spare Me Your Newfound “Fiscal Responsibility”

recession-republicans

At his press conference on Monday, President Barack Obama had to remind Mara Liasson of Fox News and NPR that it was the Republicans who doubled the national debt over the past eight years and it’s a little strange to be hearing lectures from them now about how to be fiscally responsible. That interchange was […]

Obama, Pelosi Must Rescue Damaged Stimulus Package

pelosi-obama

Senators Ben Nelson (D-NE) and Susan Collins (R-ME) have produced a Senate stimulus bill that kills jobs, eliminates affordable housing, guts education and gives billions in new tax breaks for the rich. Their hypocrisy is shameful. As New York Times columnist Paul Krugman put it, the Senate measure will “lead to substantially lower employment and […]

Senate Republicans and the Stimulus: Playing Politics When the Economy Burns

reichtable

Friday’s job report is likely to be awful. January’s job losses could easily top half a million. We’re deep into the most vicious of economic cycles: Consumers are slashing their spending because they’re perilously in debt and worried about keeping their jobs. But as a result, businesses are facing shrinking sales of goods and services, […]

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