Items of Interest:
No End in Sight to Job Losses; 663,000 More Cut in March -- With 663,000 more jobs disappearing from the American economy last month, swelling the total number of jobs surrendered to the recession beyond five million, the government’s response to the downturn is being put to a strenuous test...
related:Glenn Greenwald / Salon:
Bloomberg: Unemployment Reaches 25-Year High as Services Contract
Tim Rutten / Los Angeles Times: Unemployment, and CEO Pay On the Rise
Leo Hindery & Donald Riegle / The Nation: The Job Creation Solution
Conor Clarke / The Atlantic Business Channel: Who Cares About Larry Summers' Income?
Jonathan Schwarz / A Tiny Revolution: Limited — From a recent profile of Larry Summers by Noam Scheiber in the New Republic:Jane Hamsher / Firedoglake: Bankers Demand Huge Bonuses From Taxpayers; Obama Says Yes We Can!Thoreau / Unqualified Offerings: Good for the goose is good for the SummersThe Sideshow: Eat them before they eat youAtrios / Eschaton: Beat Sweetener — I recently learned what is apparently a term …Wall Street Journal: Hedge Fund Paid Summers $5.2 Million in Past Year
Philip Weiss / Mondoweiss: Larry $ummers and the new establishment
Buck Naked Politics: Obama Administration Officials' Financial Disclosure FormsPZ Myers / Pharyngula: Putting the foxes in chargeTaegan Goddard's Political Wire: Summers Received Big Fees from TARP RecipientsBarry Ritholtz / The Big Picture: Larry Summers: Wrong Man for the JobMasaccio / Firedoglake: Summers Feeds at Hedge Fund TroughFelix Salmon: Larry Summers's millions
Summers Earned Millions in D.E. Shaw Salary, Bank Speech Fees
Tommy Christopher / Political Machine: White House Financial Disclosures Paint Scarlet $ on Larry SummersEd Morrissey / Hot Air: Friday-night doc dump: Summers took millions from hedge funds, TARP recipientsYves Smith / naked capitalism: Scientist to study plant stress BBC — Lilies Deadly to Cats, Veterinarians Warn PhysOrg.
Ross Douthat: The Coming Tax Revolt?
You say pension, I say parachute -- The final chapter of Rick Wagoner’s tenure as Chairman and CEO of General Motors Corp. neatly sums up the growing schism between working-class America and executive-class America.
The former General Motors CEO and Chairman Rick Wagoner will eventually walk away from the company he ran into the ground with an estimated $20 million to $23 million pension. According to the Associated Press, Wagoner also will “receive about $367,000 in stock awards and about $535,000 in deferred compensation.” ...
Fannie, Freddie Set to Pay $210 Million in Retention Bonuses
Seton Motley / NewsBusters.org: $210 Million in Freddie and Fannie Retention Bonuses: Will the …Ed Morrissey / Hot Air: Guess who's going to pay retention bonuses?
Greed and Stupidity — What happened to the global economy?
M Peretz / The New Republic: Our Epistemological Depression — David Brooks has an intriguing …Alan Stewart Carl / Donklephant: Greed vs. StupidityMeg White / BuzzFlash.org: Phil Gramm Owes America $2 TrillionGuinevere Nell / The Foundry: Back to the Basics — In the New York Times today …
- Do Free Markets Actually Work? - Francis Cianfrocca, The New Ledger
- Let's Give Capitalism Its Due - Carl Schramm, Wall Street Journal
- G20: A New World Order Is Fantasy - Simon Heffer, Daily Telegraph
- G20: Obama Went Along to Get Along - Jackson Diehl, Washington Post
- The G20 Protesters Do Have a Point - Camilla Cavendish, Times of London
- The Winners and Losers At the G20 - Peter Gumbel, Fortune
- G-20 Failure Could Lead To Protectionism - Mark Thoma, Guardian
- Self-Protectionism: The Politics of Trade - Ronald Cass, RealClearMarkets
- What Does the Financial Crisis Look Like? - John Lloyd, Financial Times
- Job Anxiety Sweeps the Office - Michelle Conlin, Business Week
- The Banker Who Said No - Bernard Condon & Nathan Vardi, Forbes
- A Hopeful Sign for Trade - Monica Showalter, Investor's Business Daily
- New Deal Revisionism: Theories Collide - Patricia Cohen, New York Times
- The Bailout Goes Global - Alan Abelson, Barron's
- As Crisis Loomed, Geithner Pressed But Fell Short - Washington Post
- Inside Obama's Bank CEOs Meeting - Politico
- Geithner's Vision Was Born on Buffett's Desk - Michael Hirsh, Newsweek
- Atlas Shrugged Sales Overturn Policy Calculations - Robert Tracinski,RCM
- The Radicalization of Ben Bernanke - S. Johnson & J Kwak, Washington Post
- It Really Is All Alan Greenspan's Fault - Susan Lee, Forbes
- Credibility Is Key To Policy Success - Martin Wolf, Financial Times
- MTM Relaxation Makes Market Sense - Editorial, Investor's Business Daily
- New MTM Ruling Gives More Clarity, Not Less - John Berry, Bloomberg
- China Positions Yuan for World Supremacy - Don Lee, Los Angeles Times
- China Is Caught In a Dollar Trap - Paul Krugman, New York Times
- We Move Closer to a Global Currency - Ambrose Evans-Pritchard, Telegraph
- The Reserve Clause: What Moneyball Missed - Adam Fleisher, American
- Free-Marketeers Should Welcome Some Regulation - Paul Singer, WSJ
- Does Mark-to-Market Matter That Much? - Robert Holmes, TheStreet.com
- Bankers Get Cash, Car Guys Crash & Burn - Margaret Carlson, Bloomberg
- Time For A Tax Reform - Bruce Bartlett, Forbes
- Ten Signs of Recovery and Renewal - Patricia Sellers, Fortune
- The Inequality Gap Between Rich & Poor Has Narrowed - Economist
- GE Has Lost Its Aura of Greatness - Jena McGregor, BusinessWeek