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Outrageous! Half of these companies should have gone under, would have gone under if not for taxpayer bailouts.

Originally posted on The Buzz - Investment and Stock Market News:

It’s that time of year again. Most of the nation’s big banks have disclosed how much chief executives earned in 2012. While some had their compensation cut, others received hefty raises.

One caveat: Wells Fargo (WFC) CEO John Stumpf, who received $17.6 million in total compensation in 2011, is not on the list. Wells has not yet disclosed Stumpf’s 2012 compensation.

http://i2.cdn.turner.com/money/dam/assets/130222101200-lloyd-blankfein-goldman-sachs-wall-street-pay-340xa.jpgLloyd Blankfein: $21 million

The CEO of Goldman Sachs (GS), took home a pay package totaling $21 million.

On top of his base salary of $2 million, Goldman Sachs’ board granted Blankfein a nearly $19 million bonus: $13.3 million in stock and $5.6 million in cash.

In 2011, Blankfein received total compensation worth $12 million.

He wasn’t the only one who got a raise last year. The other top four executives at Goldman were paid base salary and bonuses worth a combined $71 million.

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Posted February 25, 2013 by econprofessor in Economics

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This needs to stop. Israel’s policy has isolated the U.S. globally.

Originally posted on Global Public Square:

By Ibrahim Sharqieh, Special to CNN

Editor’s note: Ibrahim Sharqieh is deputy director of the Brookings Institution’s Doha Center. The views expressed are the writer’s own.

We are now set for a third term for Israeli Premier Benjamin Netanyahu. And, although Netanyahu’s Likud-Yisrael Beiteinu coalition seems to have underperformed expectations, a plurality of the vote will allow him to once again lead Israel’s government.

But even a somewhat moderated Netanyahu government will continue to advance radical positions that put regional and global security in danger. The question, then, is how the United States can best push another right-wing administration to behave in accordance with the principles of the international security system – and its own national interests.

Over the past two Netanyahu terms, the international community, and the United States in particular, adopted an approach based on accommodation when dealing with the Netanyahu government. The hope was that…

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Posted January 31, 2013 by econprofessor in Economics

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The corruption has to stop.

Originally posted on CNN Political Ticker:

Washington (CNN) — Sen. Robert Menendez’s office issued a statement Wednesday saying he had traveled several times on a plane belonging to a Florida eye doctor who had given political donations to Menendez but that all the trips were “paid for and reported appropriately.” The office also denied allegations the New Jersey Democrat had engaged the services of prostitutes.

The statement was issued after FBI agents searched the West Palm Beach office of the ophthalmologist, Dr. Salomon Melgen. Investigators were seen carrying out boxes during the search, which began Tuesday night and continued into Wednesday. An FBI spokesman in Florida confirmed there was “law enforcement activity” at the location where the search occurred but did not mention Melgen or anyone else and did not explain what agents were investigating.

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Posted January 31, 2013 by econprofessor in Economics

Tip of the Day:…   Leave a comment

Tip of the Day: A Utility Curve shows an individual’s personal preference for two scenarios relative to one another. It represents an amount of one option that the person is willing to trade for a given amount of the other option. It’s often used to compare an individual’s preferences between two goods. Each possible point along the Utility Curve provides the individual with the same quantity of “utils” as any other point on the curve.

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This is terrible. Nobody in this day and age should be a slave of any kind, let alone in a supposedly free country like India.

Originally posted on The CNN Freedom Project: Ending Modern-Day Slavery:

Editor’s note: Davinder Kumar is an award-winning development journalist and a Chevening Human Rights Scholar. He works for children’s rights organization Plan International. On October 11, International Day of the Girl, Plan International launches its global campaign “Because I am a Girl,” dedicated to improving girls’ education. The girls’ names have been changed to protect their identities.

By Davinder Kumar, Special to CNN

Prakasam, Andhra Pradesh, India — As evening falls, the girls get restless. Huddled in a group, some go very quiet, while others become agitated. The large hall of residence fills with an atmosphere of fear and anxiety.

One of the girls breaks down as she recounts her experience at the Hyderabad brothel she was rescued from just a few days ago: For two weeks she says she was kept sedated and offered to clients in a comatose state before she was allowed a meal.


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Posted December 6, 2012 by econprofessor in Economics

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Very odd…

Originally posted on NewsFeed:

You can be forgiven for thinking that unicorns only exist in medieval fables and modern-day cartoons. North Korean scientists say you are wrong.

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Posted December 3, 2012 by econprofessor in Economics

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Originally posted on Global Public Square:

By Global Public Square staff

The most intriguing story this week might play out not in Washington, but thousands of miles away, in Beijing. Why? Well, consider this. We didn’t know who the next occupant of the White House would be (now we do), but we have a pretty good estimate of his policies. On the other hand in China, we almost certainly know the identity of the next top leader, Xi Jinping. What we have no clue about is where he wants to take China.

Starting Thursday, Beijing will pick a new generation of rulers — hundreds of new faces. Until a few weeks ago, even the date of this transition was a secret. But come November 8, a new set of leaders will take on a huge backlog of problems. How these issues are dealt with will set the tone not just for China’s 1.3 billion people…

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Posted November 6, 2012 by econprofessor in Economics


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