Friday, May 29, 2009
Thursday, May 28, 2009
Monday, May 25, 2009
Sunday, May 24, 2009
Saturday, May 16, 2009
Less-likely default cardholder: buy felt-pad, visit dentist, getting married, having a child.
More-likely default cardholder: buy chrome-skull, go to bar, pawnshop, marriage therapy.
"....Although Mr. Barsky has clearly gotten rich, he was surprisingly clear-eyed about the societal imbalances of hedge fund mania. The industry, he told me, “was part of this huge trend towards the celebration of wealth. Hedge fund managers overearned. It just became too easy. There has been a massive misallocation of human resources. I have so many smart guys here who were making seven figures. And I think it is a fair question to ask: what would they have been doing in 1948 — going into the foreign service? If Obama does anything, the best thing he could do is change a generation’s values.”
He continued: “I have a friend whose son is a senior at Princeton. She said all his friends want to work for Goldman Sachs.” He added, “We have an overground railroad to finance. It is not the best way for a society to be run.”..........."