What’s up with this
Goldman Sachs and the SEC are discussing a settlement? I thought the consensus was that Goldman Sachs did nothing wrong and was being targeted for political prosecution. Discussing a settlement sure doesn’t make it seem that way. It might be cost effective in the short run, but it seems to me the long term damage to their reputation would offset that.
The Miami Herald notes that Crist is leading in the FL Senate race but doubts that will hold through November. I wouldn’t get too confident too quick. Right now the economy is improving, jobs are being added, and confidence is improving. That all helps Obama and Obama disciples. Yes, we may be on the verge of a Greece like financial meltdown, but most people don’t believe that, and even if they do that is at least 6 months down the road, and the Republicans are not doing a good job of explaining why our debt load is much too high. Again that helps the Obamaites.
Maybe this has something to do with why Goldman Sachs and the SEC are in settlement talks –
Has Congress suddenly grown a collective spine? Between the SEC case, the recent hearings held by the Senate Permanent Subcommittee on Investigations, and the current turmoil in the euro zone (exacerbated, some say, by derivatives deals), even Republicans can read the writing on the wall now: the public wants action against Wall Street. Will there be—mirabile dictu!—an actual bipartisan vote in favor of financial reform?
I’ve told you my solution before, update Shakespeare’s “First kill all the lawyers” to “First kill all the MBAs, then kill all the lawyers”. If someone is both and MBA and a lawyer I am not sure we could come up with something excruciating enough.
61 Percentage of U.S. firms that say innovation is a top priority, down from 63percent in 2008.
That’s vs. 92% for Chinese firms, and 79% for Indian firms. I am convinced that it is the quarter to quarter attitude of American business, driven into managers heads at business school, that is responsible for this. Innovation costs money at that affects stock price, so it’s bad. Work at an engineering firm run by engineers and R&D is always a top priority. Work at a firm run by MBAs and Lawyers and “shareholder value” (that’s code for lining their pockets) is value number one. The stupid thing is that by not investing in innovation the managers destroy share holder value down the road because the firm gets overtaken by others.