left right politics showbiz tech invest good life gossip fun hot
Mother Jones Hot Air Huffpo Variety Engadget Seeking Alpha Lifehacker TheSuperficial Daily Beast reddit
Daily Kos Michelle Malkin Politico Billboard Boing Boing TheBigPicture Luxist TMZ.com Fark BuzzFeed
ThinkProgress RightWingNews First Read CNN Showbiz Gizmodo FT Alphaville Joystiq Perez Hilton 4chan memorandum
Crooks+Liars Power Line CNN ticker E! Online Techcrunch Josh Brown Kotaku gamer Bastardly Post Secret Techmeme
TalkngPtsMemo Ameri..Thinker Swampland TV Guide Ars Technica 24/7 Wall St. TreeHugger Egotastic hascheezburgr Drudge
The Raw Story NewsBusters The Caucus Ent. News Mashable bloggingstocks Consumerist PinkIsTheNew dooce digg
Wonkette Wizbang fishbowlDC HlywdWiretap Google blog DealBook lifehack.org CelebrityBaby Someth'nAwful trends
Atrios Taki Magazine WashWhisprs DeadlnHllywd Read/Write Jeff Matthews 43folders GoFugYourself Neatorama PSFK
Firedoglake Big Hollywood The Fix MSN Ent. OReilly Radar PhilsStockWorld Autoblog Page Six Cool Hunter BBC
Young Turks IMAO Capital Gains Rot'nTomatoes GigaOM Daily Rec'ng Deadspin BestWeekEver stereogum Timespop
Americablog AceOfSpades Open Secrets Cinematical ProBlogger Zero Hedge DownloadSqd Dlisted CuteOverload media eye
Politicususa Redstate WikiLeaks law Cool Tools Bespoke MediaZone PopSugar Dilbert blog TVNewser
CounterPunch Jawa Report econ law.alltop Scobleizer BtwTheHedges Deviant ArtHollyw'dTuna gapingvoid BuzzMachine
TalkLeft Patterico EconLog Volokh Consp. Apple Blog Minyanville Gothamist x17online DailyGrail MediaGazer
Feministing Townhall.com Freakonomics Legal Insurrec.. Valleywag Fast Money Curbed DailyBlabber Prof. Hex Steve Rubel
PolitAnimal OutsideBeltwy CrookedTimbr Conglomerate mozillaZine RealClearMkts FabSugar Gawker OvrheardinNY MediaBlgNRO
Truthdig Moonbattery MarginalRevo SportsLawBlog Smashing W$J Mktbeat Gridskipper Radar Last.fm Threat Level
Alternet RealClearPoli crime W$J Law BlogTechdirt AbnormalRtrns Material Defamer kottke.org Seth's blog
Media Matters Instapundit CrimeblogsBalkinizationMAKE RandomRoger Sartorialist Jossip PumpkinChuckin mediamatters
The Nation Hugh Hewitt All Crime Credit Slips SrchEngLand Stock Advisors Drink'nMadeEasy Just Jared Maps Mania Newshounds
Maddow Blog PJ Media Smoking Gun FindLaw VentureBeat Slope of Hope Mark Cuban Celebitchy CollegeHumor FAIR

Wednesday, February 4, 2009

Great Recession Roundup — February 4, 2009

Item of Interest:

NYTimes.com:
U.S. Plans $500,000 Cap on Executive Pay in Bailouts -- In 2007, Vikram Pandit of Citigroup, left, made $3.1 million; Kenneth D. Lewis of Bank of America, center, received over $20 million; and Rick Wagoner of General Motors made $14.4 million...

discussion:
David Zaring / Conglomerate : Executive Compensation Gets Crushed
Portfolio.com / Economics Roundtable: Why Capping Pay is Likely to Work
Tim / The Mess That Greenspan Made: Wednesday morning links
Tyler Cowen / Marginal Revolution: Odd terms
Silicon Valley Blogger / The Digerati Life: To Get A Stimulus Check, A Company Needs To Cap Executive Pay

related:
David Cho / Washingtonpost.com:
Bailout Includes Executive Pay Limits for Some Firms — The Obama administration outlined plans today to tighten restrictions on executive compensation for future recipients of federal aid under the government's financial rescue program, but the vast majority of firms would be able to opt out of most of the limits...
----
Edmund / NYTimes:
Obama Calls for ‘Common Sense’ on Executive Pay — President Obama unveiled a salary cap of $500,000 for top executives at companies that receive the largest amounts of bailout money.
discussion:
Tom Peters / The Tom Peters: Alas, Yes.But a Definite "Yes."
Money.aol.com:
Obama Details Plan to Cap Executive Pay — 80% of the US National Debt has been created under 3 Presidents Reagan, Bush Sr and Jr as well increased the size of Gov. Clinton left Bush Jr a 256 Bil Surplus and he sharank Gov as well reformed Welfare to get the deadbeats off the system

Joseph Lazzaro / BloggingStocks: Bailed out bank executives, if smart, will accept Obama's $500k cap
----
Rasmussen Reports:
Support for Stimulus Package Falls to 37% — Support for the economic recovery plan working its way through Congress has fallen again this week. For the first time, a plurality of voters nationwide oppose the $800-billion-plus plan. — The latest Rasmussen Reports national telephone survey found …

related:
Byron York / The Corner: Republican Momentum — On Capitol Hill, you can feel …
Rasmussen Reports: 50% Say Stimulus Plan Likely to Make Things Worse
----
Washington Post:
Senate Lacks Votes to Pass Stimulus -- Senate Democratic leaders conceded yesterday that they do not have the votes to pass the stimulus bill as currently written and said that to gain bipartisan support, they will seek to cut provisions that would not provide an immediate boost to the economy...
David Leonhardt / Economix:
Do Tax Rebates Work?
David Leonhardt / New York Times:
Time to Steer ‘Forceful Course’ for Stimulus
----
George Soros / Wall Street Journal:
We Can Do Better Than a Bad Bank -- The Obama administration should come out of the gate with a comprehensive economic program that has two pillars in addition to a fiscal stimulus package. One would prevent housing prices from overshooting on the downside by making mortgages cheaper and more available and reducing foreclosures to a minimum; the other would enable banks to resume lending by adequately recapitalizing them. It would take several months to implement the program and a further period before it impacts the economy. But in the meantime, people could see that there is a way out, and that would help mitigate the severity of the downturn...
related:
Daniel Gros, Financial Times: There's Nothing Scary About a Big Bad Bank
James Keller, RealClearMarkets: Don't We Have Enough Bad Banks?
Naked Capitalism: The Bad Bank Proposal: Even Worse than You Thought
----
The Bernie Madoff Ponzi Scheme

ABClocal.go.com
List of Madoff clients released -- The names of several thousand clients who lost money investing with Bernard Madoff have been released in a court filing that reads like a Who's Who: former Los Angeles Dodgers pitcher Sandy Koufax, actor Kevin Bacon and even Madoff's defense lawyer.

The names, including those of Madoff's relatives, numerous celebrities, dead people and charitable institutions, are listed on a 162-page document filed late Wednesday in U.S. Bankruptcy Court in Manhattan.

PDF: See the full list here.

DealBook:
$946 Million Recovered So Far From Madoff Firm — About 2 cents on the dollar. That's what has been recovered so far for people who invested with the disgraced financier Bernard L. Madoff. The trustee overseeing the liquidation of Mr. Madoff's investment firm said in Federal Bankruptcy Court on Wednesday that a total of about $946 million had been recovered so far. That may seem...
related:
Market Movers: 10 Questions to Ask Your Fund-of-Funds Manager
FT.com:
SEC 'illiteracy' to blame for Madoff affair — The losses linked to Bernard Madoff may be closer to $15bn-$25bn rather than the $50bn the New York broker allegedly told US investigators, according to former money manager Harry Markopolos
discussion:
Brad DeLong / Grasping Reality with Both Hands: Harry Markopolos Speaks
----

Calculated Risk

MishTalk - Mike Shedlock

Paul Krugman - NY Times

The Big Picture - Barry Ritholtz

naked capitalism - Yves Smith

Pragmatic Capitalism

Washington's Blog

Safe Haven

Paper Economy

The Daily Reckoning - Australia