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Recession Briefing 2.11
What you need to know today to survive and thrive in the recession.
In A Toy Store Near You: Wall Street Victim Play Set (Cityfile)
“These poor people represent the emotions many of us went through as we watched our investments plummet to unimaginable lows and then plummet some more,” reads McPhee’s product description.
Some Banks Want to Return Government Money
(NY Times)
Goldman and Morgan Stanley would rather pay back billions in bailout money than let the feds have more say in their business.
Market: No Likey Bank Rescue Plan (WSJ)
The stock market dropped 5 percent in response to Treasury Secretary Tim Geitner’s speech on Tuesday.
Minus the Bonus (AP)
The bill working its way through Congress would require companies to repay taxpayers for big executive bonuses. Duh.
These Banks Don’t Need Your Help (CNNMoney)
Bright spots in the financial sector: banks that haven’t taken TARP funds, and are thriving anyway.
No, No, Keep the Raise… (AP)
Members of Congress are giving up their automatic salary hikes for next year.
Mom, I Joined the Army–Because I Couldn’t Find a Job (CNNMoney)
The Department of Defense says all branches of the armed forces met or exceeded their recruiting goals for January, despite the two ongoing wars.
Trying to Be Green Machines (NY Times)
Modular home companies are touting their green creds, hoping to stand out in a grim market.
How to Save the Economy (NY Magazine)
Every Citigroup director should have to go out and spend ALL of their $225,000 in annual compensation from the company.
Class-Less Snobs (NY Post)
Plans for Greenwich Village High School, a high-profile and very pricey new private school in New York, have been shelved—along with the $35,000 annual tuition.
The New Baby Bust (Daily Beast)
A Daily Beast poll says people are postponing kids because of the economy.
Shocker: Diamond Sales are Down (FT)
Diamond giant De Beers does not expect sparkle in the market soon, and is planning to cut production drastically.
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