Judging the Judges

John Roberts has joined Samuel Alito in piling on Obama for his criticism of the recent SC decision. Perhaps these folks have forgotten that they were nominated, while the President was elected. Judges have to serve the people- they are not above criticism. In return for having a guaranteed life-long highly paid employment with great benefits, the judges should explain their decisions and the data behind their decisions. It should not be enough to just write an opinion.

Chief justice unsettled by Obama's criticism of Supreme Court - latimes.com: "To the extent the State of the Union has degenerated into a political pep rally, I'm not sure why we are there,' Roberts said at the University of Alabama School of Law. Obama's speech in January came a week after the high court ruled 5 to 4 that corporations had a free-speech right to spend unlimited sums to elect or defeat candidates for office. The president, looking down at the six justices in attendance, sharply criticized the Supreme Court for having 'opened the floodgates for special interests' to sway elections."

When Finance leads job creation...

It is not clear if this is a positive or a bearish signal...

Job Market Stabilizes for Business Students - NYTimes.com: "With banks climbing out of the recession, more business students across the country are finding banking jobs and internships, enrolling in finance clubs and going on class trips to Wall Street, universities say.

Unemployment is plaguing millions of families, and the public may still be seething about bank bailouts and eight-figure bonuses. But business students and career advisers see a job market that is quickly stabilizing.

Aspiring bankers know their career choice comes at an awkward time. Ben Phelps, an M.B.A. student at Duke who is going to work for Bank of America Merrill Lynch after graduation, was shouted at by a stranger on Wall Street during a summer internship. He and his classmates joke that they would sooner describe themselves as “bank tellers” than “investment bankers.”

“A lot of people lost their savings, and I can understand those people being angry,” Mr. Phelps said. “But I wish sometimes that their anger wasn’t directed just at bankers.”"

Throwing scraps to people, the BofA way

FT.com / Companies / Banks - BofA to scrap overdraft fees for card users: "Bank of America has said it will eliminate overdraft fees for debit card customers in a move designed to quell consumer frustration and keep the bank a step ahead of new regulations that restrict such charges.

The $35 fee has drawn widespread criticism from consumer groups and legislators. Federal Reserve rules that take effect this summer require banks to obtain a customer’s permission before enrolling them in overdraft programmes."

The most quality-conscious consumers?

Sometime ago, a writer in FT asserted that Japanese consumers are the most demanding in the world who expect high quality in products and services.

Toyota Owners Report Problems in Japan to No Avail - NYTimes.com: "But veterans of Japan’s moribund consumer rights movement say that Mrs. Sakai, like many Japanese, is the victim of a Japanese establishment that values Japanese business over Japanese consumers, and the lack of consumer protections here.

“In Japan, there is a phrase: if something smells, put a lid on it,” said Shunkichi Takayama, a Tokyo-based lawyer who has handled complaints related to Toyota vehicles.

Toyota has recalled eight million cars outside Japan because of unexpected acceleration and other problems, but has insisted that there are no systemic problems with its cars sold in Japan. The company recalled the Prius for a brake problem earlier this year.

Critics say many companies benefit from Japan’s weak consumer protections. (The country has only one full-time automobile recall investigator, supported by 15 others on limited contracts.)"