tag:blogger.com,1999:blog-4900303239154048192.post9152345114342389304..comments2024-03-06T06:34:42.881-05:00Comments on EconoSpeak: Political Economy and FinancializationUnknownnoreply@blogger.comBlogger7125tag:blogger.com,1999:blog-4900303239154048192.post-28961441949666454042012-08-26T22:29:31.421-04:002012-08-26T22:29:31.421-04:00From a political-economic viewpoint, both Clinton ...From a political-economic viewpoint, both Clinton and Obama worked from the same assumption, that change could be obtained by shedding off large sections of the world of business from support for private health insurance services, medication and services. <a href="http://howtoretireplan.com" rel="nofollow">happy retirement</a>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-60402152544577937522011-09-10T15:24:16.878-04:002011-09-10T15:24:16.878-04:00"why the CEO’s of nonfinancial firms, for ins..."why the CEO’s of nonfinancial firms, for instance, are not beating the drums for deconcentration and tight regulation"<br /><br />Well, for one, those financial sector CEOs get paid a lot of money. And when other CEOs get paid a lot money, it's easy to make the case to your board that you should get paid a lot of money, too. Especially when your board consists of CEOs that get paid a lot of money.The Oriole Wayhttps://www.blogger.com/profile/16483309131692836436noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-9875128318166113952011-09-10T14:24:11.204-04:002011-09-10T14:24:11.204-04:00"why the CEO’s of nonfinancial firms, for ins..."why the CEO’s of nonfinancial firms, for instance, are not beating the drums for deconcentration and tight regulation"<br /><br />A lot of the large "non-financial" corporations are in fact large financial firms. GE FInance; GM's GMAC/Ally bank; Ford Motor Credit; Target; UnitedHealth; Harley Davidson; Walmart very nearly decided to follow their example a few years ago.buermannhttps://www.blogger.com/profile/14876839557540319179noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-77618409453639412712011-09-10T10:00:48.733-04:002011-09-10T10:00:48.733-04:00It is a coincidence that, in this view, personal w...<i>It is a coincidence that, in this view, personal wealth maximization coincides with good public policy.</i> Peter Dorman<br /><br />Oh, the irony!<br /><br />Or -- "It is difficult to get a man to understand something, when his salary depends upon his not understanding it." --Upton SinclairAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-80021615017395334552011-09-10T08:40:06.521-04:002011-09-10T08:40:06.521-04:00This comment has been removed by the author.bobreplyhttps://www.blogger.com/profile/05659758271800073115noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-80692969128078806972011-09-10T08:37:23.939-04:002011-09-10T08:37:23.939-04:00A couple of comments.
First, I don't mean to ...A couple of comments.<br /><br />First, I don't mean to pick at your analogy - but GE is not a good example. It's GE Healthcare Division made roughly $2 billion in profits on revenue of about $15 billion. Clearly the company has a stake in promoting expensive medical technology that keeps health care costs high. <br /><br />Second, I don't think your argument goes far enough. We have a top level management class in the US that is singularly concerned with increasing their personal wealth - at the expense of the environment, the US economy (they are, after "citizens of the world") and even shareholders. This is why the link between CEO pay and company performance is as weak as it is. It is also why companies are pouring cash into politicians that protect - above all else - the personal tax benefits of the ultra wealthy. <br /><br />Company managers routinely use shareholder money to help ensure that their heirs pay no estate taxes. How does that help the average schmo owning GE in her IRA or 401K portfolio?Bob Sharakhttps://www.blogger.com/profile/11777008612480753658noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-73706197144416331812011-09-10T00:36:35.176-04:002011-09-10T00:36:35.176-04:00Fiscal adjustment, that is the issue now. At leas...Fiscal adjustment, that is the issue now. At least that is what the IMF thinks:<br /><br />http://youtu.be/j9lJbDjxDqMAlice Cookhttps://www.blogger.com/profile/05753570123987780947noreply@blogger.com