It's hard to escape the bailout.
Had my parents over for dinner this weekend. We didn't talk about the weather, or even the presidential debate so much. We talked about the bailout. Incessantly. My parents, approaching retirement, don't view this as some some kind of news hound's miniseries. No, for them, every market swoon, every bank buyout affects them palpably. "You don't know what it's like" said my father, "to watch your retirement balance drop like this."
So I decided not to forward him Andrew O'Connell's blog entry about the "surprising winners in the financial crisis." O'Connell says they're, well, people like me.
O'Connell attended an excellent panel discussion at Harvard (watch it here) with some heavyweight economists and thinkers. One of them said "there's a real intergenerational transfer" of wealth happening. As O'Connell puts it: "As housing prices fall, older generations of Americans are seeing significant amounts of their wealth evaporate, but the decline presents opportunities for younger people."
Green blogger Mindy Lubber, meanwhile, connects Wall Street to sustainability, pointing out the similarity between green strategies and "the vast pitfalls of an economic system obsessed with short-term gains".
"By playing on the worst of human instincts -- greed -- we now have a global economic recession," she writes, and "failing to address global warming without tough governmental policies could have even bigger economic consequences."
All of which is cold comfort for my father.
Finally today, check out two of the latest in what's becoming a deep well of blog posts on bad bosses. John Baldoni offers advice to managers who are just realizing that they're the bad boss employees gripe about. Annie McKee, meanwhile, offers help on neutralizing a "toxic boss."
September 29, 2008; 4:53 PM ET
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