John Cassidy has an article about the social value of what Wall Street and investment banking. Lord Adair Turner, the chairman of Britain’s top financial watchdog, the Financial Services Authority, has described much of what happens on Wall Street and in other financial centers as "socially useless activity" — a comment that suggests it could [...]
Wall Street
Is the Recession Finally Over?
According to Newsweek The long-leading index—which goes back to the 1920s and doesn’t include stock prices but does include measures related to credit, housing, productivity, and profits—hits bottom and starts to climb about six months before a recession ends. The weekly leading index calls directional shifts about three to four months in advance. And the [...]
But will I respect you in the morning?
Scott is writing about the culture of evangelical clergy and how it differs from almost every other job in the world. This comment was as good as the post. guilt was more what I felt going on those "junkets". I remember skipping a breakfast buffet that was being paid by the church. we had 10min [...]
Give Thanks?
Michael Lewis on five reasons we can give thanks for the financial meltdown of the decade Our willingness to believe that we can hire some expert to tell us how to outperform markets is a big problem, with big consequences. It underpins Wall Street’s brokerage operations, for instance, and leads to a lot more people [...]
