Word: needing
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Over the past decade, though, reality took a detour from Philippon's theory. Corporate America's need for outside financing fell, but the financial sector refused to shrink; it pumped out ever riskier products until the system nearly collapsed. Why the refusal? Maybe the pay was too good. Philippon and the University of Virginia's Ariell Reshef have found that, starting in the mid-1980s, financial-sector paychecks began to outstrip those for jobs in other sectors demanding similar skills and education levels. Since the late 1990s, Philippon and Reshef estimate, 30% to 50% of financial-sector pay has amounted...
...suspect that Barack Obama works at projecting that aura of postpartisan open-mindedness because he understands its political value. There's the chance his opponents will have a good idea; there's the certainty that independent voters will give him points for listening. And there's the need for inoculation against the charge that he is all sizzle, no steak, a need he admitted when he mocked himself at last year's Al Smith dinner. "If I had to name my greatest strength, I guess it would be my humility," he said. "Greatest weakness, it's possible that...
Humility and modesty need not be weakness or servility; they can be marks of strength, the courage to confront a challenge knowing that the outcome is in doubt. Ronald Reagan, for all his cold-warrior confidence, projected a personal modesty that served his political agenda well. I still don't know what President Obama's core principles are, but the fact that he even pays lip service to humility as one of them could give him the upper hand in the war for the souls of independents - a group that's larger now than at any time in the past...
...countries with vibrant financial sectors grow faster than those of countries without them. So banks and financial markets do enable prosperity. But as we emerge (we hope) from a deep economic downturn brought on by a banking and financial crisis, that's not enough of an answer. We need to know whether the financial sector's profits, and its paychecks, can leave the rest of us worse off. In other words, are bankers worth...
...smaller, less-well-remunerated financial industry than the one we've had. Exactly how much smaller? "I've done what I could, but it's not like I've found the right formula, that finance should be 6.65% of GDP," jokes Philippon. As for Blankfein and Griffiths, they clearly need to come up with a better formula for defending their paychecks...