Thursday, September 25, 2008

Two boardroom tricks, which would be second nature to a Goldman CEO

1. If something is about to fail, propose an impossible solution. When others prevent the impossible solution from happening, escape blame, because you tried to fix it, and others wouldn't let you.

2. When others refuse to accept your impossible solution, accept the worst aspects of their solution. Explain that they are making a big mistake by sabotaging your solution, and that you expect their solution to fail, but that you are being driven to accept it by their lack of cooperation and trust When their solution fails, you will end up looking better.

What does it mean to accept a pay cap for all beneficiaries of the Paulson bailout? Bush and Paulson claim that the entire economy will be the beneficiary of the bailout -- so are we finally going to get a sane income tax, with everybody's income maxing out at 400K?

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