I’ve been reading the 21-page Policy Statement on Financial Market Developments of the Hank-Paulson-led President’s Working Group on Financial Markets. It’s got a lot of acronyms in it. It’s also five years late and a few trillion dollars short, but that’s almost always the case with financial regulation. We’re very good at designing rules to [...]
Commenter smedley and Swamplander Karen Tumulty have asked me to take a look at President Bush’s speech yesterday to the U.S. Hispanic Chamber of Commerce, especially his comments about tax cuts. Here they are: I remember meeting with some right after the attacks and we were wondering whether or not our economy could withstand a [...]
Yesterday afternoon the news was that Blackstone’s Steve Schwarzman got $5 billion in compensation last year. But now AP is running the following correction: In an earlier version of this story, the Associated Press erroneously reported that Blackstone co-founder Stephen Schwarzman’s total compensation for 2007 was $5.13 billion. Schwarzman’s compensation for 2007 was $350.7 million. [...]
