Why the Bailout Failed and Ideas for Fixing Wall Street and its IT
Congress's failure to pass the Treasury's proposed $700 billion financial bailout package today came as no surprise to Anil Kumar, global head - financial services group at IT services giant Satyam. "They didn't do a good job of summarizing the plan," Kumar says. "They've got to redefine the plan to be more consumer-oriented, rather than solely based on removing toxic assets from banks' balance sheets." He adds, "Unless the housing problems are
Why are we still waiting for the $700 billion bailout?
As debate over the $700 billion bailout continues, Larry Tabb, CEO of TABB Group, comments on the need for "bipartisan, unambiguous and morally steadfast leadership ... not a group of folks fiddling around while Rome burns"
Tools To Help Older Clients Weather the Economic Storm
At least two older people I know live entirely off the income they get from ultra-conservative investments such as Treasury bills. With long-term Treasury notes paying 2-4%, they're watching their monthly incomes plummet. To pay their bills, they have to periodically sell off some of their principal, a scary thing they hesitate to do, knowing they'll have even less to live off of.
The End Of An Era
The news today that Goldman Sachs and Morgan Stanley are going to be converted to highly regulated commercial banks with strict capital ratio requirements marks the end of Wall Street's ultra profitable hayday. It will be welcomed by the American people, who are done bailing out once highrolling firms with tax dollars. "You flew too close to the sun, now your wings are melting, too bad for you," was a friend's reaction to this
Neuberger Berman signs three year contract with Broadridge.
Job Opportunities Amidst the Crisis
For those of you looking for jobs right now, we'd like to share with you articles we've come across about companies that want to pick up Wall Street's best and brightest dislocated IT talent.