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August 20, 2010 – 11:00 am |

Higher wages, not a stronger yuan, will help Chinese workers and reduce U.S. imports.

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A Selective Defense of “Too Big to Fail” [Barron's]

Submitted by Bob Pozen on March 1, 2010 – 2:43 pm
A Selective Defense of “Too Big to Fail” [Barron's]

Reviewed by Jim McTague. Here’s an idea for curbing the rapine of all those financial executives thumbing their noses at the taxpayers who rescued them from ruin: Limit their annual salaries to $300,000 to $400,000, and institute three-year performance programs that award bonuses to good stewards, but not the bad.

That’s just one of several provocative ideas found in this thorough, intelligent and straightforward book by money manager Robert Pozen, which traces the ontogeny of the financial crisis and offers remedies — most of them delectably controversial — for preventing calamities.

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