then why the fuck is the New York Times paying William Cohan to write about Wall Street? It's a more complicated rhetorical question than it first appears, yes?For the life of me, I can’t figure out why Wall Street bankers, traders and executives get paid so much money year after year for doing jobs that rarely require them to innovate, enlighten or put their own capital at risk, and have the nasty habit of periodically sinking our economy.
With his usual narrative flair, the New Yorker writer Malcolm Gladwell recently tried to figure out, why Americans pay their “stars” so much money. “There was a time, not so long ago, when people at the very top of their profession — the talent — did not make a lot of money,” he wrote. That’s true of Wall Street as well: in 1949, when Felix Rohatyn started at Lazard Freres & Co., in New York, he was paid $37.50 a week. This was a 15 percent better weekly salary than Ace Greenberg received that year when he started at Bear Stearns, where he would eventually rise to chief executive and chairman.Oh, he's writing in the New York Times because he can lazily quote Malcolm Fucking Gladwell, without a whiff of irony, on overrated talent being overpaid.
Excellent, an essay in the New York Times displaying the same dynamic it seeks - and proudly claims to fail - to explain.
Hey, this is the last time until the next time, but thank you very much all of you who made the migration to the new site so easy. I'm still getting a hundred or so hits a day at the old site, almost all of them junk, people googling for all the things they've always googled for, images of Lichelle Missel and peformed deople and Savid Dampselle and others, but most people who were regulars there are now regulars here. Again, many many thanks.
- More on Hedges.
- More on Hedges.
- Krugman calls Apocalypse!
- The next four years.
- The neoliberal project.
- The paradox.
- Why do Democrats hate democracy, part two.
- This election.
- Please please please please please.
- Bad news for Randal.
- The World's Shittiest Human, feebly, farts loud.
- War on black skin.
- $80B? That's a lot of roads and bridges.
- Big lie.
- Peary High School!
- Be afraid.
- McCarthy and Stevens.
- What are your five favorite Guided by Voices songs? Well, I have more than five, but one of mine is this blog's third theme song, another is Cheyenne, which I can't find a youtube of, a third is this:
a fourth is
a fifth is
a sixth is
a seventh is
an eighth is
a ninth is
a tenth is (posted for the umpteenth time)
William Carlos Williams
If when my wife is sleeping and the baby and Kathleen are sleeping and the sun is a flame-white disc in silken mists above shining trees,- if I in my north room dance naked, grotesquely before my mirror waving my shirt round my head and singing softly to myself: "I am lonely, lonely, I was born to be lonely, I am best so!" If I admire my arms, my face, my shoulders, flanks, buttocks against the yellow drawn shades,- Who shall say I am not the happy genius of my household?