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September 15, 2011
cost
So, this morning's headline news included the UBS trader that cost his company $2 billion and may have cost his CEO his job. Ouch. Buttonwood's response.
As for the bankers, they remind me of the post-1815 Bourbon monarchs who had "learned nothing and forgotten nothing". They still see themselves as masters of the universe rather than as servants of the taxpayer as a result of their previous mistakes. Of course, the crisis wasn't all the fault of the banks but there were still plenty of errors of judgment that cast extreme doubt on whether they deserve their high salaries. Investment bankers claim to be in favour of free markets so let them prove it by cutting themselves off from the public purse.
Ouch. Here, the issue is with management and the high-risk, selfish behavior they advocate and those individuals who play their games.
Open your eyes and smell the stink.
More information in the census report. The change in median income after a recession has been greatest for the last year than any other period since 1967 (-2.3%).
Onto tech, yesterday on Yahoo, you would have found an article about coolest tech toys of 2011 on its front page. Among them, you would have found the Galaxy 7.7. I looked up this product since I'm shopping for a tablet and did not want a HP product. I was impressed with the Super AMOELED screen since I discovered recently that the Amazon tablet will go with a regular LCD screen. Then, there were rumors that Galaxy 7.7 might not be sold in the US which has now been clarified. From the first reviews, Galaxy 7.7 is a good blend between the tablet and phone. When did introducing a technology in the US become an afterthought? I want to be an early adopter of good products that won't break my budget!
Posted by azileretsis at September 15, 2011 11:40 AM
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