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Recession Briefing 12.29: Goldman Sucks

What you need to know today to survive and thrive in the recession.

Some of the more tangible expressions of populist rage at Wall Street and Washington over the financial crisis are on t-shirts and other collectibles. Angry, snarky designs came fast and furious in 2009, going after Goldman Sachs, the financial industry bailout, President Obama’s economic policies, and many more. (Business Insider)

Mohamed El-Erian, chief executive of giant bond manager Pimco, says that we shouldn’t trust the nascent economic recovery. “We’re on a sugar high,” El-Erian says. “It feels good for a while but is unsustainable.” (Associated Press)

It was a rough year for Ponzi schemes. In 2009, the recession unraveled nearly four times as many of the investment scams as fell apart in 2008. (Associated Press)

A recent survey looked at how artists are faring amid the recession. While there was plenty of downside, nearly four in 10 artists say the ability to spend more time on their art work is a positive outcome of the recession. (Music Think Tank)

A new analysis of Canada’s recent economic collapse shows it can be traced almost entirely to the United States. (Canadian Press)

The government is expanding a massive safety net to help the unemployed buy health insurance, but millions of people can’t access the aid because of the way the program was designed. (Wall Street Journal)

The Federal Reserve on Monday proposed allowing banks to park their reserves at the central bank, a move aimed at weaning the economy off extraordinary infusions of cash and curbing inflation. (New York Times)

President Barack Obama on Monday signed into law an increase in the U.S. national debt limit to $12.4 trillion, the White House said in a statement. (Reuters)

More than half (54%) of companies that froze salaries in 2009 are planning a thaw over the next few months. Meanwhile, 35% of employers that had reduced or cut 401(k) matching contributions expect to restore them in 2010. (Fortune)

After working hard to keep their doors open during the recession, many small-business owners are taking painful steps to stay afloat in 2010, which is expected to be another tough year for most. (Los Angeles Times)

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Tags: art, business, economy, News, recovery, The Unemployed Life, Wall Street