No big surprises in Vanity Fair’s treatment of Bill Clinton… Writer Todd Purdham gets the skinny on the ex-Prez who in turn is excoriated by Clinton … In it, details of a jet set lifestyle of big bucks and babes… Whatever. Point is: through his free market approach to Third World development – the so-called “Clinton Doctrine” – Clinton added 200 million people to the ranks of absolute poverty around the world… Jet away, dude: you can run but you can’t hide…
Over at Citibank, under the tutelage of ex-Clinton Treasury Secretary Robert Rubin, a strident supporter of that same Clinton Doctrine, all is not well … Citibank CEO Vikram Pandit watches as his hedge fund – Old Lane Partners – is disbanded … Less than a year since Pandit sold Old Lane to his new employer and took $165 million for himself in the deal, Citigroup is scrambling. With assets in excess of $2 trillion, help is nowhere to be found. The banking giant still needs to raise capital to cover its losses and couldn’t be persuaded to cough up capital needed to keep Old Lane going… Citi’s stock is down in the 60% range…
Compare and contrast: McCain and Obama are headed in different directions. In McCain’s America: Middle class earners making between $66,354 and $111,645 per year take home pay will increase .7% (that;s $777 on $111,000); earners in the top 1% , those making more than $2.8 million Will see their income increase by 4.4%. Under Obama,, middle class earnings would rise 2.4% and top earners’ after-tax income would DECREASE by 11.5%. Therein lies the difference. By the way, each [WHAT?] ends up in the 18% range for tax revenue/share of GDP…
The Urban Policy Center reports that black men have the same employment prospects as white men with prison records….
A recent audit of NJ’s state-funded low-income health programs reveals some employees earn as much as $295,000 annually on those rolls.
Clarification: Sheriff John Green is truly a great man. Thank you, Helen, for your note on the good sheriff.
This is good can citibank make it? Will they need a tax payer bailout? Are they the next Bear Stearns? Why was Bear allowed to fail?
By ThingsComeUndone on June 13th, 2008 at 2:44 pm