Unemployment — not if you caused the crisis!
So if you lost your firm billions of dollars, laid off tens of thousands and indirectly caused millions to lose their jobs and drove the unemployment rate to 10.3% well, the good news is it didn’t cost you your job! 92% of management in TARP funds recipients still have their jobs!
From A Fair Deal for Taxpayer Investments:
The executive leadership of the financial sector remain largely unchanged—92 percent of the management and directors of the top 17 recipients of TARP funds are still in office.
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Will Greece Get a Bailout?
February 10, 2010 - 10:44 pm
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From Matthew Yglesias » Will Greece Get a Bailout?:
If the Greece moral hazard play winds up not working, then investors will start demanding higher interest payments from Ireland. And if they go down, you could have the equivalent of a bank runs start to endanger medium-sized countries like Spain and Italy. At that point, everyone’s [...]
What’s a Bailed-Out Banker Really Worth?
January 3, 2010 - 9:17 pm
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Fascinating article on what’s happened with the bankers bailout. One intriguing quote compares executive compensation to the average employee::
Over the last 50 years, the ratio of top pay to average pay at public companies has multiplied roughly 11 times (24:1 to 275:1). That’s more pay in one workday for the chief executive than his [...]
Global warming a political winner?
December 2, 2009 - 3:59 am
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I was arguing with someone about global warming and one of his claims was that global warming is a political winner for the democratic party. I don’t think so. As a measure, here is a poll from CNN just before the election showing what people think is important. Environment and/or global warming? [...]
Unemployment rate
November 18, 2009 - 8:07 pm
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Pick your favorite, worst recession and compare with how we are doing now. There are even predictions that unemployment may reach 12%. Unemployment is always a relative thing but this chart looks at employment as a percentage of the total work force. From Brad DeLong:
Gold bugs unite!
November 5, 2009 - 1:19 am
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Here’s one of those info-graphics to get all the gold bugs in a dizzy:
Taxes on the top 1%
July 17, 2009 - 8:01 pm
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From Conor Clarke is this chart plotting the effective federal tax rate of the upper 1%.
First off, never trust a chart that doesn’t start at 0 but anyway. What’s interesting is that this is the effective rate being paid (not the marginal rate). Here’s some related information that shows how income has grown for the [...]
Unemployment post-recession
July 15, 2009 - 7:56 pm
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This graph has been making the rounds (I got it from Barry Ritholtz’s). It shows the percentage change in unemployment (Y-axis) and the months since the official start of the recession. What’s particularly dramatic about this is employment continues to worsen and over a much longer period of time than past recessions. E.g. this [...]
‘Cash for Clunkers’ Passes House
June 10, 2009 - 8:38 pm
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So the cash for clunkers is getting closer. It passed in the House:
In addition to having stricter fuel economy requirements, the Senate bill contains three major differences. The first is the maximum fuel economy of the trade-in vehicles, which is 17 miles a gallon. The second is there are three voucher amounts ($2,500 to [...]
That new car smell
May 19, 2009 - 9:12 pm
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I’m closely keeping track of that cash-for-clunkers program. It sounds like the Senate is close to approving a plan that provides a $3,500 subsidy for trading in an old gas guzzler for a more efficient car!
The U.S. House of Representatives has passed a plan and the Senate is likely to do the same this [...]
Closer to a new car?
May 6, 2009 - 9:49 pm
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It’s one step closer to happening! Getting a new car based on a trade in might actually happen. It hasn’t passed the House yet (much less the Senate) but the leadership of both parties agree on doing it. From House Reaches a Deal on ‘Cash for Clunkers’ Program:
Under the House plan, a car trade-in [...]