January 15, 2010
I wholeheartedly apologize for my absence in the last few months. I’ve gotten numerous e-mails, posts, etc. which I ignored for the most part. Unfortunately, creative juices (and writing something intelligible and not credit/acquisition related) slows down to crawl when one is busy. A new year calls for a fresh start and I anticipate picking up where I fell off the cliff. I may skip a few stories and steps here and there to try and get to where the current place and time.
The bonus backlash (aka populist outrage) has been in full swing during the past few weeks. It is perpetually fueled by reports and articles in the New York Times, Bloomberg, CNBC, etc. I even heard Howard Stern commenting on it the other day. To top it all off, the mafioso families of Wall Street were dragged to DC for another round of berating and accusations in front of Congress. I can safely say that Jamie Dimon is my new hero with his piercing blue eyes, wind swept silver locks, and steely demeanor. Blankfein gives a good stink face but Dimon’s bored and “you’re all idiots” demeanor takes the cake.
I found this article by Steven Pearlstein (chief business/economy writer for the Washington Post) pretty straightforward and enlightening. Also pretty gutsy for a paper based out of DC. The article pretty much states the obvious in a very simplistic manner so as to spell it out for the Main Streeters.