Marley and me rapidshare

Our most senior government officials determined that the United States must allow Goldman to keep its risky portfolio of assets, while offering it essentially unfettered access to cheap credit from the Federal Reserve.

In rescuing a crippled investment bank, the Treasury created the world's largest government-backed hedge fund. In the face of these developments, Andrew Haldane, head of financial stability at the Bank of England, has become blunt about the way our banking system interacts with and rips off taxpayers.

In a recent paper that represents the straightest talk heard from the official sector in a long while, Haldane puts it this way: The government may say "never again" to bailouts, but when faced with the choice to either "rescue big banks or allow the world economy to collapse," it will reasonably choose the route of rescue.

But, knowing this, the people running our biggest banks have an incentive to take more risk -- if things go well, bank executives get the upside, and if there's a problem, the taxpayer will pick up the check. If a financial sector boss wants greater assurance of a bailout, he or she should make bigger and potentially more dangerous bets -- so the government simply cannot afford to let that bank fail. This, Haldane argues, is our "doom loop" -- big banks know they can get away with the same behavior and more again, and we are doomed to repeat the same boom-bust-bailout cycle.

A long time ago, President Andrew Jackson's private secretary, Nicholas Trist, described the Second Bank of the United States, the last financial institution to seriously challenge the power of the president, thus: "Independently of its misdeeds, the mere power, -- the bare existence of such a power -- is a thing irreconcilable with the nature and spirit of our institutions.

Whose taxes do you think will be raised to reflect the costs of repeated financial shenanigans? The financial sector will become even richer and more powerful.

If you didn't like where inequality in the United States was already heading, wait until you see the effects of this recession. The most significant result of the financial crisis is the emergence of six large banks that are undoubtedly too big to fail and therefore enjoy a strengthened government guarantee; Goldman, JPMorgan, Citigroup, Bank of America, Wells Fargo and Morgan Stanley are the beneficiaries of the doom loop.

The most significant non-result is the fact that no comprehensive legislation has yet been passed to reform the financial sector. Without really serious reform, we have every reason to start counting down to the next financial crisis, and to the next fleet of Mercedes lining up before the New York Fed.

It's an entertaining book, brisk book Sorkin skillfully captures the raucous enthusiasm and riotous greed that fueled this rational irrationality. A deeply researched account of the financial meltdown. Other blow-by-blow accounts are in the works. It is hard to imagine them being this riveting. Posted by ngnm at AM 25 comments:. Labels: andrew ross sorkin , e-book , rapidshare ebook , too big to fail.

Collins introduces a five stage model to answer these questions, where steps one and two address the roots of corporate failure and steps three through five managements' response. Collins' analysis of management response to decline--denial of risk, grasping for salvation, and capitulation to irrelevance or death--accurately describe how leaders respond to deterioration in their business.

This analysis here is solid, the writing clear, and the tempo brisk. Collins does a particularly good job of describing dysfunctional leadership behaviors of companies is in decline. Collins' analysis of why companies get into trouble in the first place is much less compelling. Companies fail, according to Collins, when success breeds managerial hubris, which leads to overreach and ultimately failure.

Like many of Collins' findings, this makes intuitive sense. Unfortunately in this case, his core argument runs counter to research on hundreds of companies, conducted over decades by dozens of scholars.

There are two major flaws in Collins argument. First, he claims that companies get into trouble because they overreach and expand beyond their core. This is consistent with data showing that diversified companies trade at a discount to focused rivals. Recent research published in the Journal of Financial Economics and the Journal of Finance has established that the companies often diversify to escape decline in their core business.

Overreach is a symptom--not a cause--of decline and thus cannot explain its roots. Second, Collins ignores a rich body of research that finds decline sets in not because companies stray from their core, but because they stick too close to it. Clay Christensen's research on disruptive technology, for example, demonstrates that companies stumble when they stay too close to their established customers and fail to serve emerging segments.

The competency trap literature finds that companies get locked in by what they do well and struggle to adapt when circumstances change. Hubris and overreach, of course, play a role in corporate decline, but a well-established body of research suggests that they are rarely the root causes. Posted by ngnm at PM 4 comments:. Labels: e-book , How the mighty fall , Jim Collins , rapidshare ebook.

Marley and Me: Theatrical Trailer. Clip Video Photos Top cast Edit. Owen Wilson John as John. Jennifer Aniston Jenny as Jenny. Eric Dane Sebastian as Sebastian. Kathleen Turner Ms. Kornblut as Ms. Haley Bennett Lisa as Lisa. Ann Dowd Dr. Platt as Dr. Clarke Peters Editor as Editor.

Haley Hudson Debby as Debby. Tom Irwin Dr. Sherman as Dr. Alec Mapa Jorge as Jorge. David Frankel. More like this. Marley taught me about living each day with unbridled exuberance and joy, about seizing the moment and following your heart. He taught me to appreciate the simple things- a walk in the woods, a fresh snowfall, a nap in a shaft of winter sunlight. Like any relationship, this one has its costs.

They were costs we came to accept and balance against the joy and amusement and protection and companionship he gave us. There was no question that before the night was through one of these puppies would be ours. He was the undisciplined, recalcitrant, nonconformist, politically incorrect free spirit I had always wanted to be, had I been brave enough, and I took vicarious joy in his unbridled verve.

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