It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
This week we had a plea to forgive 3rd world debt by the G-20 countries meeting in Pittsburgh.
So, in honor of that perspective, this weeks video is the 1991 documentary, Life and Debt. It's a story of IMF policies at that time, the globalization agenda and use of IMF debt to achieve that end...at the expense of Jamaica and the people.
Volcker calls for the separation of banking from commerce and also calls for reforms in executive pay. He also calls for regulation of hedge funds and private equity firms. Volcker also implies that by saving the Zombie banks, the U.S. in fact has encouraged even worse risk taking and highlights these very questions so often written about on this site:
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
This is almost silly but considering the move today by the Federal Reserve to limit executive pay, the below video, in the tacky genre of Lifestyles of the Rich and Famous might jar some reality on executive compensation.
It's not enough to run a financial institution into the ground, but when a nation tries to limit executive pay, bankers scurry like rats to the Cayman Islands:
A group of 45 bankers at Barclays yesterday bypassed potential curbs on pay and bonuses by jumping ship to set up a Cayman Islands company and manage $12.3 billion of Barclays’ most toxic debt. They will be paid at least $400 million over ten years (see Commentary, facing page).
In an exotic piece of financial engineering, the bank will lend $12.6 billion to Protium, a newly created Cayman Islands-registered hedge fund, to buy the toxic assets.
Sponsored by Record Setting Productivity Numbers - Obviously all caused by technological advances, such as many unemployed people making funny videos and posting them on youtube.
Good Morning! Rise and Shine! Get that Cup O' Joe...
break out the O.J....hang out with the pooch...time to check out the Funnies!
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
Remember all of that talk on shovel ready projects and infrastructure from the Stimulus? Remember it is estimated that only 3-5% is actually spent on infrastructure? Remember that our unemployment rate is 9.7% with no end in sight? Remember how these types of jobs, if given to Americans are above minimum wage and require skills? (See Probpublica, Eye on Stimulus for more details in addition to EP search)
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
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