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April 21, 2014

Andrew Silow-Carroll: Passoverkill? Suggestions to make next year's seders even more culturally sensitive

Sara Israelsen Hartley: Seeking the Divine: An ancient connection in a new context

Christine M. Flowers: Priest's execution in Syria should be call to action

Courtnie Erickson: How to help kids accept the poor decisions of others

Lizette Borreli: A Glass Of Milk A Day Keeps Knee Arthritis At Bay

Lizette Borreli: 5 Health Conditions Your Breath Knows Before You Do

The Kosher Gourmet by Betty Rosbottom Coconut Walnut Bars' golden brown morsels are a beautifully balanced delectable delight

April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review Sept. 23, 2008 / 23 Elul 5768

Bonnie and Clyde, banking pioneers

By Wesley Pruden


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http://www.JewishWorldReview.com | Now we see what Bonnie and Clyde could have made of themselves if only they had gone to Harvard Business School. Machine guns and fast getaway cars are not nearly as efficient as computers, lawyers and imaginative accounting.


Bonnie and Clyde relieved depositors of their savings at little banks in out of the way places, dealing only in retail. The Lehman brothers and their sisters, Bear Stearns and AIG, relieved investors of their money on Wall Street and now get to relieve taxpayers of their money from coast to coast, dealing in wholesale. The brothers and sisters have given "free markets" an entirely new meaning. They're free to take the money and run, with Hank Paulson driving the getaway car.


Bonnie and Clyde had to plan their robberies carefully. If they hit a bank in Joplin and the haul was too small to pay for groceries and gasoline, they worried about where and when to eat. Too many bad choices and they were hungry and out of cash with nothing to carry. The Lehman brothers and their greedy and ultimately incompetent ilk didn't have to worry. They were too big to fail, and government enablers would always be there.


But capitalism, with its winners and losers, risks and rewards, is only for the poor. The rich - the investment bankers, the high rollers and the croupiers at the Wall Street casino - get socialism, with never a worry about getting "shaken out" by the free market. So this is what George W.'s "compassionate conservatism" was all about. Who knew?


The business reporters at Reuters sat down over the weekend and did the math, to see who will pay for the nightmare on Wall Street. They reckon the rescue will eventually cost $1,800,000,000,000, when all the various rescue measures are counted. (Trillions are no longer exotic figures; our typesetters are running out of zeroes.) This sum is equal to 13 percent of the entire U.S. Gross Domestic Product and considerably more than twice the entire economic product of both Canada and Spain. If that's not scary enough, these measures will cost every American $6,000 in increased taxes, now or later, or about $15,500 for each household. That's only the average; since some taxpayers pay more (and you know who you are) and some pay less (and you know who they are), this will require sending for Bill Clinton to feel all that pain.


We're told that this is no time to play the blame game. But why not? Since we're all stockholders now in a vast Ponzi scheme, we should have some say in who gets thrown into the street and who doesn't. The Democrats are particularly eager to avoid the blame game. They fiercely opposed legislation in 2005 that would have imposed sanity on Fannie Mae and Freddie Mac, whence came this misery. The legislation was written by three senators, including, as it happens, John McCain. The senators who blocked it were, as it happens, Barack Obama, Hillary Clinton and Chris Dodd. This unholy trio took more than a quarter of a million dollars in campaign contributions from executives and employees of Fannie and Freddie. Just a coincidence, of course.


The men and women who blew up Wall Street, counting on the rest of us to clean up the debris, will now move on to other places where life will continue to be rich. For example, the average annual salary at Goldman Sachs, which has yet to go bust, is $521,000, including secretaries. The chairman took away $38 million last year, and bonuses of $2 million, $5 million and $10 million are the norm.


The New York employees of bankrupt Lehman Brothers will share a bonus pool of $2.5 billion - the "b" is correct - for their good work in assisting in the destruction of the company. Barclays Bank PLC of London, which is buying the rubble, says the New York staff will nevertheless get their bonuses. Barclays is even negotiating with 30 top Lehman executives to hire them for jobs at Barclays paying millions of dollars a year.


Executive salaries in a private business are the legitimate concern only of the stockholders; if stockholders want to pay ridiculous salaries and bonuses instead of taking the profits as return on their investment, they're entitled. (Bonnie and Clyde would have been ashamed of such greed.) When taxpayers are abused by having to pay for a bailout, we're entitled to take charge, through our elected officials. So congratulations to all. We're all Wall Street bankers now.

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JWR contributor Wesley Pruden is editor in chief of The Washington Times. Comment by clicking here.

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