A lot of things have been said about the AIG bonuses worth $165 million to high-ranked employees. Here’s an interesting analysis by Alain Delaqueriere from the New York Times. There is no additional information about Mr. Delaqueriere besides his job, and I am not one who reads articles that are written by specific persons, so I am not going to talk about him at all.
First good news have come after a long time of disappointments. Bank of America, Citigroup and Chase have been profitable since the beginning of the year, and their stocks have risen by 86%, 62% and 45.6% respectively over the last four days. It looks as if Ben Bernanke was right when he said that the economic recession might end this year. Continue reading
The economic stimulus package (click on the link to see what it is about) is about to be signed into law by President Barack Obama today in Denver. Unlike the Republicans who condemn it by calling it a spending package, a europeanization of the U.S., etc., I believe in the President’s assuredness that it is going to save and create more than 3.5 million jobs over the next two years, ignite spending by businesses and consumers alike and lay a new foundation for our lasting economic growth and prosperity.