Thursday, June 16, 2011

Bank CEO Pay Goes Way Up, Greek Bonds are Good as Loan Collateral (Really!), and

Short Takes on the Current News from the Financial Times

The Financial Times may well be the best reporting of national and international business, finance and economic events.  Here are a few important items.

CEO pay was up 36% last year to $9.7 million.  These are banks in the U. S. and U.K. that exist today because of taxpayer bailouts.  Hey, no need to thank us, we were happy to do it.

Greek banks may need about $29 billion from Europe to keep solvent if Greek bonds were no longer being accepted as collateral at the European Central Bank.  The $29 billion is not the news, the news is that Greek sovereign debt is accepted by the ECB as collateral.  Are Groucho, Harpo and Chico running the ECB?

China is warning other countries not to become involved in its escalating territorial dispute with Vietnam over the South China Sea.  Not to worry China, U. S. has been there, done that.

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