Word: short-term
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There are also some who see the credit as disruptive to market cycles. Sales and pricing ultimately have to be set organically, not by short-term government subsidies, says Bose George, an analyst at Keefe, Bruyette & Woods. "Pricing has to be determined by how much money people have to spend and the interest rates they have to borrow to buy the home," he says. "The tax credit - while it could help in the short-term - is not meaningful in the longer-term." Says Widner: "It postpones the inevitable reconciliation...
...look, Google gave them $900 million in an ad deal for something they only paid $580 million for. How can that be bad?" And the answer to that is: Given that Fox Interactive Media group, of which MySpace is a part, actually lost money this year even after the short-term Google ad-deal windfall, $580 million doesn't seem like such a bargain. (See the top 10 financial-crisis buzzwords...
...emphasis on long-term compensation. But a number of pay consultants say Feinberg might have gone too far in curbing year-end bonuses. "It is fair to say that some of the pay schemes promoted bad behavior and led to excessive risk, but you still need some sort of short-term incentive," says top-pay consultant Don Delves. "People do stuff for money, and they tend to be more motivated by money they can get in the next year [than by] money they may not see for three or five years...
...devastating for savers, especially for retirees who use interest income to supplement Social Security. If you had $500,000 stashed away - not a bad nest egg - you could earn a no-risk $20,000 to $25,000 annually (before taxes) two years ago buying bank CDs or short-term Treasury securities. Now you earn less than $5,000 in an average one-year CD, about $2,000 in a one-year Treasury. This offers retirees unpleasant choices: reduce their standard of living, eat into their principal or take greater risks to restore the lost income. (Watch TIME's video "Uninsured...
People who grab every penny they can, using taxpayer money, aren't true capitalists. True capitalists are long-term greedy, to use Goldman's favorite slogan, trying to maximize their take over the long run. The short-term greedy aren't capitalists, they're pigs. And as they say on Wall Street, pigs get slaughtered...