Read this article, and then ask yourselves whether Everyone is exactly that dumb, that they cannot get the gist of the Geithner Plan. No Bonuses? Well, there is a Way around that! The U.S. Treasury guarantees the assets, and the Investors must understand the system and come up with the Cash. Bank Executives understand the system, and probably have a good Credit rating with the Bank. Being associated with an Institution that has had previous experience with Credit Default Swaps of $10 billion+—well, large Investment Banks. Banks get to loan major Cash to their Executives assured of repayment by the Treasury, and their Executives make Billions off the Deal. The Banks will be polite, and only buy other Banks’ assets, so there is no hint of collusion. It is a fairly good replacement for the huge Bonus system so badly criticized. Check the requirements for qualification for the Treasury guarantee. And People say that Bankers are not Game Players!
Does One create technical Tests, or does One try to test overall performance? The Answer is that One does both, but in the manner that Education has always used; basing the majority of Questions on general skills, but with periodic interjection of detailed Questions which should be able to be answered by a properly-trained individual. Examiners then compare the success of the two series of Questions, asking themselves if the Tested can quickly absorb the information necessary to perform the Job in Question. Examiners who cannot perform this relatively simple Task may have been poorly chosen for their own positions, and an Employer might consider future Hiring (Translation: find Someone who can do the Job in the Positions required). I once suggested that a Employer fire himself, and hire a good Personnel Director; some people take things so personally!
One might ask what is the Content behind this article. It is an obvious failure to understand Fed worries that their Stimulus packages were going to destabilize the U.S. Dollar, and they wanted a rapid means to insert Cash flow into foreign markets. Fast advances in Dollar prices for American Products would leave foreign markets short for American purchases in Dollars. This is a quick way for the Fed to buy foreign Currency to splash Dollars across foreign markets; foreign buyers would not have to sell in American markets to raise Dollar Cash. I find it disheartening that the Fed would show this indication that it expects the Dollar to rapidly inflate. I will inform Gentle Ben that I find his Keynesian policies less acceptable all the Time. lgl
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