Paul B. Farrell analyzes David Stockman's "Four Deformations of the Apocalypse"
Stockman was one of Ronald Reagan's big dogs. He wrote a piece for the New York times describing how the GOP's financial tactics have lead to the inevitable failure of the US economy.
Washington Mutual collapsed in September 2008 with about $307 billion in assets, and was acquired by JPMorgan for $1.9 billion in a deal brokered by the Federal Deposit Insurance Corp., or FDIC. Seattle-based WaMu has said that price was much too low...
Lawyers said that lawsuit accuses JPMorgan of disclosing confidential information "to government regulators, rating agencies, media, and investors in an effort to harm WMI by driving down WMI's credit rating and stock price."
The lawyers allege JPMorgan used that information to convince regulators to seize the bank and sell off its assets so it could buy WaMu's assets at fire-sale prices.
In recent weeks many banks have repaid money lent to them by the TARP program. Did they suddenly make billions in profits to pay off the governemnt loans? Of course not. They are simply issuing more stock. All in an attempt to avoid regulations aimed at capping absurd Executive pay packages. Read on...
Washington launched its biggest offensive yet against runaway Wall Street pay practices Thursday, taking aim at everyone from senior executives to high-flying traders of complex securities.
The Federal Reserve proposed a sweeping review of pay policies at 28 of the nation's largest banks as part of an effort to make sure employees are not tempted to make the kinds of bets that could put their company at risk of going under.
"The Federal Reserve is working to ensure that compensation packages appropriately tie rewards to longer-term performance and do not create undue risk for the firm or the financial system," Fed Chairman Ben Bernanke said in a statement.
The nation's central bank said it also planned to review compensation practices at the thousands of regional lenders that make up the bulk of the U.S. banking industry as part of its standard review process.
Separately, the Obama administration's "pay czar," Kenneth Feinberg, is expected to unveil sweeping pay cuts for 175 top executives at the seven biggest bailed-out companies.
Feinberg is expected to demand that Citigroup (C, Fortune 500), AIG (AIG, Fortune 500), Bank of America (BAC, Fortune 500), Chrysler, General Motors, GMAC and Chrysler Financial slash compensation packages for its top 25 most highly-compensated employees 50%, on average, a senior administration official told CNN.
The lion's share of those cuts are expected to come from annual salaries, which are expected to fall 90%, on average, the official said.
Thursday's activity, which first started to surface just a day earlier, perhaps represent the most sweeping push against Wall Street pay practices.
Certain shareholder groups and other social activists have long campaigned for banks and other financial firms to do more to align executive pay with a company's performance, but those efforts have made little headway.
In an article provided to yahoo hotjobs by wetfeet.com, Sara Goldsmith quotes CEO and founder of ExecuNet, Dave Opton as saying, "I don't have time to take the damn things apart." in reference to resumes submitted in "pretty plastic folders".
Rather than recognize an opportunity to possibly match prospective employee with a company that needs someone with attention to presentation, he simply throws the resume away. Its a good thing Mr. Opton gets paid when other people get hired, cause I'd certainly not hire him to do anything.
This is an issue that drives me nuts when I see resume tips posted in little blogs around the web. The only tip that was really useful in Miss Goldsmith's bit was provided by Jeremy Eskenazi from Idealab! He suggests not putting your age in your resume as it is illegal to factor in age when considering employment.
Sure, there are things you can do to improve your resume, but in the end, your resume is a depiction of you. A lot can be said about the kind of person you are based on how you present and/or what you put in your resume. This isn't just important in getting a job, its important in getting the right job. If a recruiter throws your resume away because of some detail that they didn't like about it without first considering if any company they represent could benefit from this nuance, then they are inept at their job. This is yet another example of the greedy bottom line mentality crapping all over the potential for quality.
Do the best you can with your resume, but don't take out anything that would keep you from getting the job because the potential employer might not like it. If you do, you might very well end up at a job you don't want working for people like ol' lazy Dave.
Credit card companies are lowering customer credit lines...sometimes to below their current balance. One customer says HSBC did it and then charged him an over the limit fee.
Paul B. Farrell analyzes David Stockman's "Four Deformations of the Apocalypse" 
