It is absurd that the families of those killed in the Beirut bombings of 1983 are still waiting for restitution.
There is a simple remedy. If the US government wishes to avoid upsetting delicate negotiations between itself and a foreign government, then it should pay the costs incurred by that government through judicial decisions.
It is unconscionable that this cost is being born by the families who lost loved ones 26 years ago.
Monday, November 23, 2009
Finance: Softer Approach, NYT 11.13.2009: B2
Mr Feineberg seems to be living in the same dream world as Wall Street Executives (Finance: Softer Approach, New York Times, November 13, 2009: B2).
He is arguing that pay cuts would make it difficult for Wall Street firms to retain talent. He seems unaware that there is an enormous pool of talent in the job market with similar skills, alumni of Bear Stearns and Lehman, who would be delighted to fill the shoes of any executive foolish enough to depart his or her current job.
We, as shareholders and owners of these companies, must keep up the pressure against excessive compensation.
Sent to New York Times
He is arguing that pay cuts would make it difficult for Wall Street firms to retain talent. He seems unaware that there is an enormous pool of talent in the job market with similar skills, alumni of Bear Stearns and Lehman, who would be delighted to fill the shoes of any executive foolish enough to depart his or her current job.
We, as shareholders and owners of these companies, must keep up the pressure against excessive compensation.
Sent to New York Times
Wednesday, November 18, 2009
Sunday, November 15, 2009
Obama Meets his Anzio
Paul Krugman (New York Times, Oct. 6, 2009) claims that progressives have lost faith in the President because of his soft treatment of Wall Street.
Alas, the betrayal is much more profound and includes his endorsement of the outrageous States Secrets privilege, the failure to bring the innocent Uighurs to the United States as refugees, and his failure to prosecute those responsible for the torture memorandums.
He might not have succeeded, but at least he could have fought for each of these.
Sent to New York Times
Alas, the betrayal is much more profound and includes his endorsement of the outrageous States Secrets privilege, the failure to bring the innocent Uighurs to the United States as refugees, and his failure to prosecute those responsible for the torture memorandums.
He might not have succeeded, but at least he could have fought for each of these.
Sent to New York Times
The Fleet is in
It seems that the Times is in the business of exploiting labor.
In the advertisement, The Fleet Is In (November 5, 2009: C1), the New York Times store boasts that each of the hand made ship models featured takes more than 100 hours to craft.
The average price of these models is about $540 which means that if all the money went to the craftsmen, they would be making under $6.00 per hour. But, if, as I was once taught, "Materials is half your business," then they are receiving under $3.00 an hour and this still leaves nothing for shipping or profit.
The Times is always extolling fair trade; does it (or the New York Times Store) practice it?
Sent to the New York Times
In the advertisement, The Fleet Is In (November 5, 2009: C1), the New York Times store boasts that each of the hand made ship models featured takes more than 100 hours to craft.
The average price of these models is about $540 which means that if all the money went to the craftsmen, they would be making under $6.00 per hour. But, if, as I was once taught, "Materials is half your business," then they are receiving under $3.00 an hour and this still leaves nothing for shipping or profit.
The Times is always extolling fair trade; does it (or the New York Times Store) practice it?
Sent to the New York Times
For University Presidents, a pay cut is in order
If I were a University President responding to the Globe's admonition (November 5, 2009:A16) to take a pay cut, I would say, "I will be the first to take a cut once those Finance Professors in the Business School take a cut. They, after all, either devised the derivatives that sank the economy, or trained the people that did. The Finance Professors need to give back in a big way."
I am waiting to see if they do.
Sent to Boston Globe
I am waiting to see if they do.
Sent to Boston Globe
Tuesday, November 3, 2009
The gaggle of economic sociopaths
I am the last person to defend the behavior of the Wall Street tycoons who brought down the economy by their actions over the past eight years, but we were ill served by the publication of Neal Gabler's rant about the “economic sociopaths” of Wall Street (Boston Globe, October 31, 2009: A11).
The diagnosis of a psychiatric condition (like those articulated in DSM-IV-R) should be done on an individual basis by a highly trained specialist. Such diagnoses should not be applied in a broad brush way to any subpopulation, even Wall Streeters deserve that amount of restraint. Though the phrase is an appealing metaphor.
Furthermore, there is in psychology an ongoing argument about whether behavior is driven by person or by situation. Situations, it is argued, call forth relevant behaviors. One could argue that over the past eight years, we ,through our government, created the situation in which this irresponsible behavior was appropriate. We cut taxes, we repealed Glass-Steagall, we neglected regulation, and we glorified winners. We got the behaviors that might have been expected.
On one point I agree with Mr Gabler. It is a great shame that President Obama appointed two men who facilitated those situational changes, Mr. Geithner and Mr. Summers, to be major figures on the team trying to undo those disastrous changes in the situation.
Sent to Boston Globe
The diagnosis of a psychiatric condition (like those articulated in DSM-IV-R) should be done on an individual basis by a highly trained specialist. Such diagnoses should not be applied in a broad brush way to any subpopulation, even Wall Streeters deserve that amount of restraint. Though the phrase is an appealing metaphor.
Furthermore, there is in psychology an ongoing argument about whether behavior is driven by person or by situation. Situations, it is argued, call forth relevant behaviors. One could argue that over the past eight years, we ,through our government, created the situation in which this irresponsible behavior was appropriate. We cut taxes, we repealed Glass-Steagall, we neglected regulation, and we glorified winners. We got the behaviors that might have been expected.
On one point I agree with Mr Gabler. It is a great shame that President Obama appointed two men who facilitated those situational changes, Mr. Geithner and Mr. Summers, to be major figures on the team trying to undo those disastrous changes in the situation.
Sent to Boston Globe
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