Word: underated
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In the end, the problem isn't really pay; it's competence. The CEOs didn't understand the fine print. These firms collapsed out of ignorance fueled by avarice - a particularly toxic combination. Under the circumstances, Feinberg is doing the best he can. But what he's doing is more...
So when the likes of Goldman Sachs or JPMorgan Chase, which were well capitalized and well run, say they didn't really need TARP money in the first place, that's more or less accurate. However, that doesn't mean that Goldman, JPMorgan and every other bank in the country...
That's harshly arbitrary, as is the fact that UAW jobs have been saved, at least for now, thanks to $60 billion of government money flowing into GM and Chrysler. Meanwhile, other companies have been allowed to croak. I can see how on macroeconomic grounds, it makes sense. Letting GM...
Critics, take note: Tightly crafted prose and lofty moral sentiments may have their place, but what really matters at the end of the day is the number of times a text mentions camels. “The first thing a falsifier, a tourist, an Arab nationalist would do is have...
Under the Uniform Management of Institutional Funds Act, which was drafted in 1972 and previously governed endowment payouts, institutions were only allowed to spend income from an endowed fund if its current value–including accrued interest–exceeded the original value.