Fast News Digest

Proposing a New Pay Scale for CEOs

2010-02-08T11:40:00.000-08:00

Goldman Sachs CEO Paid $9 Million BonusConsidering the skyrocketing pay on Wall Street, here is an idea for a new pay scale for Chief Executive Officers, especially CEOs of banks.Take the average full-time hourly worker's annual salary, S, multiplied by one hundred, and factoring in the national unemployment rate, U:CEO = 100 x S x (100% - U)For example, if the average pay, S, is $50,000, and the

$9 Million Paycut?

2010-02-06T18:47:00.000-08:00

Excerpts and [Commentary][In a masterful stroke of public relations, the Wall Street banker barons have skillfully orchestrated what appears to be a humbling pay cut in response to public outrage. News was first "leaked" that Goldman Sachs CEO Lloyd Blankfein was about to receive $100 million in bonus. After public outrage became exhausted, we are told that CEO Blankfein "took a bullet" for the

A Lesson in Good Politics

2010-01-31T02:55:00.000-08:00

White HouseExcerpts and [Commentary][In the unprecedented visit to House Republican Conference, President Obama extended an olive branch, and mentioned in his remarks numerous times, to work together, to join together, to find solutions, to put the American people first, to put aside personal political ambition, and to put aside the past, echoing his State of the Union address, to push forward

Obama: State of Union 2010

2010-01-28T17:33:00.000-08:00

White HouseExcerpts and [Commentary][In a remarkable address to the Congress, President Obama rose to the occasion and delivered the State of the Union in a style that is unprecedented in its tone and construction. In a short yet substantial speech, he made clear not only the chaotic state when he accepted the office, but also the action he took in the last year, and the current state of affairs.

Programmed Trading is NOT Innovation

2010-01-28T14:31:00.000-08:00

Huffington Post - Dan Froomkin is Washington Bureau Chief of the Huffington Post, and also Deputy Editor of NiemanWatchdog.org, where this post first appeared.Excerpts and CommentaryA series of articles appeared on the Nieman Watchdog Web site that collectively present the idea that this current crisis was not cyclical in nature, but instead is an expression of structural problems. From their

Why Nothing Can Replace Innovation

2010-01-23T21:16:00.000-08:00

Huffington PostCommentaryAfter retiring from Microsoft, and devoting his energy to steering the Bill and Melinda Gates Foundation, trusted with Warren Buffet's fortune as well, Bill Gates applied his understanding of technology to the problem of human impact on global climate change.In his blog on Huffington Post, Bill Gates made clear the scope and magnitude of what confronts humanity in the

Insightful Observations from the Grandmaster

2010-01-23T20:57:00.000-08:00

Huffington PostCommentaryTwenty five years ago in 1985, Garry Kasporov proved to the world that human intellect still triumphed over computing prowess by defeating simultaneously a diverse collection of computer programs running on a number of different hardware platform. Eleven years later, the result was not as definitive, and it was a one-on-one match against a supercomputer specially designed

Time for Change

2010-01-18T10:33:00.000-08:00

New York TimesCommentaryPaul Krugman's succinct analysis of President Obama's first year states clearly both the problems and the solutions. While trying to steer a bipartisan middle course, trusting the banks to act responsibly during the financial bailout, and trusting his economic advisers that the stimulus program is sufficient, President Obama failed to put a stamp on his Administration, to

Obama Nobel Peace Prize Lecture

2009-12-14T06:38:00.000-08:00

White HouseCommentaryThe Obama Nobel Peace Prize lecture is arguably one of his most profound speeches. It encompasses the greatest scope of human endeavor and touches on the deepest philosophical thought. It calls forth visions from past great illuminaries who carried the torch of peace on our collective journey to a better future, and elucidates a roadmap to achieve a lasting just peace. It

"a country with a bright future"

2009-12-03T19:15:00.000-08:00

China DailyCommentaryIn the words of an Afghan student in China, "The young people of Afghanistan want a country with a bright future. To have a country with a good name among other countries, not one that is infamous." "I want to further my education so that my children can be educated, too.""Our country is hurt. And like the country, our people are hurt, too. Not just physically but mentally

Obama Address at West Point

2009-12-01T17:43:00.000-08:00

White HouseCommentaryA test for truly great leadership is not popularity nor authority, but a leader's vision that divines the most complex and muddy situation and delivers to his people a message that is clear and simple and inspirational. President Obama achieved that at West Point when he stated the result of his deliberation over America's commitment for Afghanistan.He made clear the reason

Why Global Cooling is a stupid idea

2009-11-30T19:28:00.000-08:00

GlobalResearch.caCommentaryIt is incredible that seemingly intelligent people can argue that Global Warming is a myth using truly irrational arguments. Here is an example of someone who claims to have "scientific" evidence that contradicts Al Gore and hundreds of scientists with painstakingly collected data, because he observes that North America will be in the coldest winter in recent memory,

Let's pray for an Afghan Marshal Plan

2009-11-30T18:26:00.000-08:00

">Michael MooreCommentaryWith all due respect to Mr. Moore, I find the simplistic dichotomy of war and peace a misguided view of the world today. Afghanistan will not be peaceful when American troops leave, unless a strong democratic government with strong civic institutions have been cultivated from without. The decades of war and corruption have turned the country into a hotbed for warlords,

Not all big banks are the same

2009-11-21T13:52:00.000-08:00

Washington PostCommentaryJPMorganChase CEO Jamie Dimon wrote in the Washington Post that "too big to fail" should be eliminated from our vocabulary. Yet, in the same article, he argues that in todays competitive global financial markets, America also needs to have big banks that can compete against other big institutions from around the world. And speaking as the CEO of one of the largest banks

Something is wrong in Washington

2009-11-10T22:26:00.000-08:00

Huffington PostCommentaryWhile thousands of people die every year from lack of health care, while half-dozen veterans die everyday from lack of health care, while more soldiers die on home soil from lack of health care than in Afghanistan from enemy fire, Congress continues to debate the fine points of public option, of abortion, listening to the call of people like Sarah Palin who continues to

What went wrong for eight years?

2009-10-22T10:45:00.000-07:00

CommentaryFinally! Someone with the courage and military esteem that cannot be ignored has spoken what had been on the minds of millions. Clarity and Accountability. That's what President Obama promised.ExcerptsToday, National Security Network Senior Adviser Gen. Paul Eaton (Ret.), who served more than 30 years in the United States Army and from 2003-2004 oversaw the training of the Iraqi

Michael Moore on Capitalism

2009-10-04T09:16:00.000-07:00

Michael MooreCommentaryMichael Moore posted a poignant blog today, which is a cogent pithy analysis of American Capitalism's dilemma: a society where the self-proclaimed religious behave without compassion and the self-proclaimed atheists proselytizing for less religion. Meanwhile, the poor gets poorer, while the rich and powerful gets more rich and powerful, with less regulation and fewer

Youth Unemployment at Record Level

2009-09-05T20:08:00.000-07:00

New York TimesCommentaryYouth unemployment is just a problem for youths. It is a problem for society in general because the problem affects the number of students being able to afford college, and becoming more employable and more productive. America's future productivity depends on a well-educated workforce. When businesses have record profits, it is only right for them to invest in the future

Stagflation, anyone?

2009-09-05T06:49:00.000-07:00

BloombergCommentaryThe US economy has reached a critical point where it can potentially fall into the same stagflation that plagued the seventies, when employment figures were low, businesses profited, Wall Street was bullish, and inflation ran rampant. If business executives continue to be rewarded by the company bottom line, instead of taking the long view at company AND employee wellness, the

An American Hero

2009-08-30T22:56:00.000-07:00

New York TimesCommentaryThe American public has long placed its trust in professionals, but has learned to be skeptical even cynical towards lawyers, big corporations, and banks. It is clear now, that there is a good reason for that. These high-income big-wigs simply don't care about the little guy. When it comes to mortgages, they treat people like pieces of paper, and their level of care is

About Returns on Investment

2009-08-30T22:38:00.000-07:00

Huffington PostCommentaryIt's about time the banks start paying back to taxpayers what they received from the bailout last year. Considering the magnitude of the money involved, the single digit return on investment is low, by any measure, especially considering the magnitude of bonuses some of these bank executives hand out to themselves.Given the record profit after a miraculous resuscitation

Back to basics financially

2009-08-30T07:37:00.000-07:00

TimeCommentaryThe profit motive has driven financial institutions for the past couple decades, leading directly to the abyss we fortunately avoided last year. If the past should not be repeated, the profit motive must be moderated with a new paradigm - the service motive. Banks exist to serve the needs of people, not the people for the banks. Bank service charges have risen almost as much as

About time! Green Stimulus.

2009-08-24T22:00:00.000-07:00

Business WeekCommentaryIt's better late than never. China's rebate to consumers who purchased refrigerators boosted the economy, not only the manufacturers but also the retailers. The rebates were significant, up to 30% of the purchase price. Perhaps more money should be put into these rebate programs, and less for bank bailouts that don't increasing loan lending to consumers, that go to Wall

Who's the Stimulus Czar?

2009-08-23T21:19:00.000-07:00

CommentaryAfter months, there is more stimulus money yet left to spend, than money already spent or in the process of funding the recovery. Who's in charge? What's the hold-up? If billions, indeed trillions can be spent bailing out banks, surely more can be done for businesses, small business, and consumers.Excerpts$ 77 billion - Spent$123 billion - In process$381 billion - Left to spend$212

Super Rich the world over

2009-08-23T20:29:00.000-07:00

China DailyCommentaryWhere ever they are anywhere in the world, the Super Rich are the same. They have a responsibility to lead by example, not by the material possessions they own. The same self-indulgent materialism that plagues the Super Rich in western countries will only lead China into a dead-end future of consumption, social decay, political corruption, and economic instability.The only