Rethinking Salary Constructs, Federal Pay Continues To Skyrocket (CHART)

In 2008 the average federal worker earned twice that of his private-industry counterpart in wages and benefits: $120,000 per year versus $60,000.

Check out the difference in slope of the two lines.  Yowza.  Federal pay and benefits are up 58% since 2000 compared to just 28% in the private sector.

Of course, when you consider the massive productivity advantage government workers enjoy over their private counterparts, it all makes sense.  WTF?

Well, it's all the Democrats fault undoubtedly.  Wait, looks like it was Bush.

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Soros: Dollar Is Done, World Needs A New Reserve Currency

Video: George Soros With The Financial Times Broadcast October 23

• "China must be part of the New World Order."

• "The dollar's decline should be orderly."

Take a few minutes to read the transcript inside.  This is an excellent interview. 

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Mid-Day Links (Bear Stearns Edition, October 26, 2009)

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Because It's Important To Know What Your Enemies Are Thinking

There is a particular cacophonous distaste when Christina Romer's voice waddles through my speakers.  The Chair of the White House CEA "cringes at the thought" of ending the stimulus early, and swears that the White House is "not cool with trillion-dollar deficits," though she offers no alternative, besides the vague illusion of savings from healthcare reform.

Why?  Because they have NO deficit-reduction plan, people.  None.  Geithner, Summers, Romer & Obama are praying, salivating for massive debt-induced growth.  They have no other hope. 

Meanwhile, tic-tock, just don't look at the debt clock.

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Dr. Warren Is Still Waiting For Geithner To Answer THE Question

• ROMANO: I was reading a transcript of a hearing that you conducted with Secretary Geithner.  And you had a very good question, which was why is it that the banking institutions and the automobile companies were treated differently, that the criteria for receiving the funds was very different.  The banking industry didn't really have to meet much, and the automobile industry did.  If I recall right, you asked the question three times.  And I'm not sure he ever answered it (go to the 2:55 mark of this link).

• WARREN (all quotes below are hers): If he answered it, I didn't catch it.

• Obviously, it bothered me.  That's why I kept asking it.  There is such a difference.  I mean, just take a deep breath for a second on this.  We said with the auto companies you have to have an entirely new business plan.  You have to go through bankruptcy.  You have to wipe out your shareholders.  Your debt holders have to take a hit.  Your labor has to take a reduction.  Your management team is at risk for being fired; some of them got fired.

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Bird And Fortune On The Financial Crisis: "You Have To Understand What Bankers Actually Do" (Comedy)

If you've never heard of British comedy team, Bird and Fortune, you can start here.  It's Friday afternoon, so enjoy some laughs.

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Updated Financial Comedy Collection

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The Next Big Bailout? Look No Further Than The New FHA

One year after rescuing Fannie and Freddie (to the tune of $200 billion, and still growing), what has the government learned about irresponsible mortgage lending.

Absolutely nothing.

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It Takes a Pillage: Behind the Bonuses, Bailouts, And Backroom Deals From Washington To Wall Street

Meet The Hazzards

Paulson's Revealing Phone Records

Goldman Sachs Strikes Gold Again

How You Finance Goldman's Profits

The Big Bank Bailout Payback Bamboozle

Nomi Prins, former Goldman exec, now journalist turncoat.

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Do Not Upset The ROCK Obama (SNL Comedy)

We have both clips inside: the AIG March performance and the sketch from last week's show.

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FDIC's Bair Wants Broad Authority To Ban All Future Bailouts

The FDIC's head honcha, and lone voice of reason among bank regulators in Washington, Sheila Bair has been extremely busy.  And it's good news for taxpayers across the board.  We have the details (3 articles) from the just-concluded Reuters Financial Summit plus new video.

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Video: Barofsky, "We're In A Far More Dangerous Place Than Before"

Special Inspector General of TARP Neil Barofsky has been making some noise lately.  He appeared on the nationally-broadcast CBS Early Show this morning; he was before the House Oversight Committee last week blaming Geithner for the AIG bonus rip-off, and this afternoon the quarterly TARP progress report was released. 

A few weeks ago, he sat down with Lagan Sebert and Christine Spolar of the Huffington Post Investigative Fund.  You might remember their outstanding work from this video.  Barofsky is candid and revealing in this 5-minute clip.  One of his best interviews to date.

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Links -- The Kashkari Edition (October 20, 2009)

Tonight's links are an experiment in formatting gone wrong.  They are in honor of former TARP chief Neel Kashkari, who came out of hiding earlier today to blow some more smoke up your..

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Neel Kashkari On The Crisis: "It Would Have Been So Much Worse"

Kashkari hasn't missed a beat.  He might be chopping wood and reading Thoreau in the mountains near Tahoe, but his Wall Street bailout sales pitch hasn't lost any shine.  The fear-mongering is never far from the surface.  More vague allusion to super-galactic devastation and destruction that was avoided through righteous and swift Treasury action. 

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The GS 3Q $3.4 Billion Profit Miracle: "Goldman Sachs Is Getting Rich On The Back Of The American Taxpayer."

Endeavor not to miss this one.  One of Ratigan's best ever.

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