The Money Trust
Washington Post columnist Steven Pearlstein suggests that Wall Street's bonuses ($24 billion this year) result from something other than a high marginal productivity of labor.
Update:
Pearlstein chatted with readers about his column.
Meanwhile, over at the NY Times, Henry Blodget argues that the folks at Goldman Sachs deserve every penny. [The very same Blodget was fined and banned from the securities industry for his behavior as a Merrill Lynch stock analyst during the internet bubble... He's made a comeback as a commentator, further evidence that F. Scott Fizgerald was completely wrong when he said "there are no second acts in American lives"]
Update:
Pearlstein chatted with readers about his column.
Meanwhile, over at the NY Times, Henry Blodget argues that the folks at Goldman Sachs deserve every penny. [The very same Blodget was fined and banned from the securities industry for his behavior as a Merrill Lynch stock analyst during the internet bubble... He's made a comeback as a commentator, further evidence that F. Scott Fizgerald was completely wrong when he said "there are no second acts in American lives"]
posted by Bill C at 6:58 AM
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