Challenge To Wallstreet::Grasping Reality with Both Hands: Needed for AIG and the TARP: Silicon Valley Compensation Schemes

Punitive taxes on compensation that takes the form of long-term restricted equity stakes is a dangerous and destructive move. If the compensation bill that emerges from the conference committee does not allow TARP-receiving companies to offer such SVCSs, then Obama should veto it.
And if the traders of Wall Street then quit en masse? If they say that they are going to “Go Galt” if they don’t get their traders’ options to take the money upfront after assuring us shareholders that they have made us a lot of money, that their positions and strategies are sound, and that they have prudently managed the risks? Well, then that tells us something about what they really think the true value of their work product has been.
via Grasping Reality with Both Hands: Needed for AIG and the TARP: Silicon Valley Compensation Schemes.

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-rePost: Darwin-Op-Ed Contributor – The Origin of Darwin – NYTimes.com

This reads like a great eulogy

MY fellow primates, 200 years ago today, Charles Darwin was born. Please join me in wishing him happy birthday!
Unlike many members of the human species, Darwin makes an easy hero. His achievements were prodigious; his science, meticulous. His work transformed our understanding of the planet and of ourselves.
At the same time, he was a humane, gentle, decent man, a loving husband and father, and a loyal friend. Judging by his letters, he was also sometimes quite funny. He was, in other words, one of those rare beings, as likeable as he was impressive.
Op-Ed Contributor – The Origin of Darwin – NYTimes.com.

Best Sentence Today-rePost-Goverment A Precondition To A Free Market-Stumbling and Mumbling: Nationalization and free markets

But the question isn’t: would this system be ideal? Perfection is unobtainable. It is: would this system be better than a heavily but imperfectly regulated industry? Could it be that state ownership, far from being the enemy of private enterprise, might in this case be a precondition for it?
Stumbling and Mumbling: Nationalization and free markets.

truly important–The Wheel of Time at Paulo Coelho’s Blog

What moves you, if you are happy with who you are , I f you are truly happy even in the down times. If you ask yourself if you are happy and you say yes. That is what is important!

The most difficult thing in this world is to adopt the posture of a warrior. Being sad and complaining is no use, nor is claiming someone does us wrong. No one is doing anything to anyone, and much less to a warrior.
The Wheel of Time at Paulo Coelho’s Blog.

We Would All Be Better If…

We cared more of substance than fluff. The fields doesn’t matter, recognition doesn’t  matter. I don’t like sounding like a Randite but it is very true. We give value to something we must choose the right things to value.
from the new yorker here

Ball wanted to keep his visit a secret—the names of Fields Medal recipients are announced officially at the awards ceremony—and the conference center where he met with Perelman was deserted. For ten hours over two days, he tried to persuade Perelman to agree to accept the prize. Perelman, a slender, balding man with a curly beard, bushy eyebrows, and blue-green eyes, listened politely. He had not spoken English for three years, but he fluently parried Ball’s entreaties, at one point taking Ball on a long walk—one of Perelman’s favorite activities. As he summed up the conversation two weeks later: “He proposed to me three alternatives: accept and come; accept and don’t come, and we will send you the medal later; third, I don’t accept the prize. From the very beginning, I told him I have chosen the third one.” The Fields Medal held no interest for him, Perelman explained. “It was completely irrelevant for me,” he said. “Everybody understood that if the proof is correct then no other recognition is needed.”

Selling Ourselves Short

from NYT here:

When he was a Harvard undergraduate, Mr. Gates lamented that so many of his fellow students pursued a “narrow track for success” instead of being willing to “take big risks to do big things,” recalled Michael Katz, a Harvard contemporary
I used to be a victim of this mindset. It was as if I didn’t have the right to “Dream Big” or to dream in general. It was in the way that people seemed to interact with you whenever you are in dream mode. The trying to take you seriously look, coupled with doses of Is this Guy Serious and is this Guy Crazy look. I’ve read the signs well enough that I generally show my dreamer side once and look for the reaction of the people I’m talking with and calibrate from their.
One of the things I love with where I am working right now is the fact that the people I hang with in the office are receptive to my dreams, they don’t encourage it overtly but they allow me my space. This is the reason why I am at their asses most of the time telling them to maximize their potential and stop wasting their time feeling inadequate.
Another place where I find people who allow themselves to dream is at out technology cooperative (aic). The hivecc as we fondly call our hq may be interpreted as a place where bold minds and daring hearts commune. It is a diverse community whose common denominator is that alone we may reach amazing heights but together we may dream of much bigger things.
Well the bottom line is never sell yourself short! You are allowed to dream , and if you are already dreaming why dream small when you can dream big. Limit your interactions with people who continually dismiss your dreams, foster an environment where you are allowed to make mistakes and to try. Find people you trust who can tell you when you are somewhat going the wrong ways, People who would act somewhat as a North Star.

Best Sentence Read Today!

Part of me always hated taking any exam, that’s why this kind of hits home for me.  More on this later!

The U.S. system may be too lax when it comes to rigor and memorization, but it is very good at developing the critical faculties of the mind. It is surely this quality that goes some way in explaining why the United States produces so many entrepreneurs, inventors, and risk takers. Tharman Shanmugaratnam, until recently Singapore’s minister of education, explains the difference between his country’s system and that of the United States: “We both have meritocracies,” Shanmugaratnam says. “Yours is a talent meritocracy, ours is an exam meritocracy. We know how to train people to take exams. You know how to use people’s talents to the fullest. Both are important, but there are some parts of the intellect that we are not able to test well — like creativity, curiosity, a sense of adventure, ambition. Most of all, America has a culture of learning that challenges conventional wisdom, even if it means challenging authority.” This is one reason that Singaporean officials recently visited U.S. schools to learn how to create a system that nurtures and rewards ingenuity, quick thinking, and problem solving. “Just by watching, you can see students are more engaged, instead of being spoon-fed all day,” one Singaporean visitor told The Washington Post. While the United States marvels at Asia’s test-taking skills, Asian governments come to the United States to figure out how to get their children to think.

Fareed Zakaria