Saturday, August 21, 2010

Hospital cleaners are worth more to society than bankers, a study suggests.

The research, carried out by think tank the New Economics Foundation, says hospital cleaners create £10 of value for every £1 they are paid.

It claims bankers are a drain on the country because of the damage they caused to the global economy.

They reportedly destroy £7 of value for every £1 they earn. Meanwhile, senior advertising executives are said to "create stress".

Full story.

Monday, August 02, 2010

"No one would listen" by Harry Markopolos . . . a book worth listening to

Harry Markopolos is the guy who blew the whistle on the Madoff fraud.

Five times.

And the SEC didn't lift a finger.

In fact, this is one of the more scary books I've read. It is pretty amazing to follow Mr. Markopolos' struggle to get SEC's attention, and it confirms anything bad you ever thought about people in a government agency.

I followed the Madoff story in the press, but reading the details in this book was like following a real life thriller. Sad part is it was real life.

The one feeling when done with the book was outrage. Outrage that the SEC was so completely inept and outrage that not a single person who suspected the Madoff fraud did a thing. Because apparently, quite a few people on Wall Street had concluded the same things as Mr. Markopolos.

Anyway, if you read one book this year, you should consider this one.

It will open your eyes to the true reality of how the world works. And it aint pretty.