Unless you've been spending all your time on the RBC chat, you've heard of Bernard Madoff
. One number should remind you - $50 Billion.
Here's a letter (PDF) submitted to the SEC
on November 7, 2005 by Harry Markopolos (who once worked for a rival of Madoff). Markopolos knew something was fishy with Madoff but the SEC completely dropped the ball
. Reminds me of Alan Greenspan's recent testimony before Congress when he conceded, “Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity, myself included, are in a state of shocked disbelief.”
Our tax dollars hardly at work.
Here in New York, Gov. Patterson's plan is to close the $13.7 Billion budget gap is to tax pretty much everything that moves - and doesn't move. His idea includes $7.2 billion of spending cuts and $4.1 billion from new or increased taxes and fees. Notice anything missing? How about efficiency? Ever wonder why improvement in government language never involves reengineering?
I shudder to think how the traditional thinking companies are going to recruit talent here in New York State. Mandates of no telecommuting will just cause high potential but budget conscious people to look elsewhere for companies who can help their employees save money. No business casual will require people to buy more expensive business clothes (don't forget that the taxes will go up on these items).
Without cost sharing programs, real salaries will decline putting more pressure on more people.
Recruiters, speak to those in charge and find ways to open their eyes...