I want to get to the impact of the current economic crisis on tech workers, but first a word on U.S. Treasury Secretary Henry Paulsen, who engineered the mammoth $700 federal bailout of Wall Street with your tax dollars. And your kids' future tax dollars, and their kids' future tax dollars. I've heard from a lot of Wall Street wise-guys that Paulsen has misread the problem, and that we, as a country, are giving the federal government way too much power that we'll never get back. Oh, and that there is no guarantee that the bailout will even work. Exhibit …

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According to the Associated Press article, "[URL="http://news.yahoo.com/s/ap/20100706/ap_on_hi_te/us_tec_technology_consolidation;_ylt=Aue.2rGwfTjg.EXFBurPtDIjtBAF;_ylu=X3oDMTMwZ2I5cjU2BGFzc2V0A2FwLzIwMTAwNzA2L3VzX3RlY190ZWNobm9sb2d5X2NvbnNvbGlkYXRpb24EY3BvcwMxBHBvcwMxBHNlYwN5bl90b3Bfc3RvcnkEc2xrA3RlY2hjdXN0b21lcg--"]Tech customers question industry's takeover spree[/URL]," large technical companies have absorbed smaller tech companies to the detriment of their customers although these tech "sponges" say they're doing it "for their customers." How can there be such a disparity between the reality of customer pain and the public face of the tech companies? But why would a customer complain about their favorite tech company getting soaked up by a larger, better funded company? In a single word: Delivery. Delivery is how efficiently customers are served by a provider. And, it's a major pain point for …

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Last week, in the middle of the worst stock market meltdown since the 1930's, U.S. Secretary Henry Paulson called on some of the banking industry's leading lights to figure a way out of this mess. Paulsen, with Lloyd Blankfein (Goldman Sachs), John Mack (Morgan Stanley), Vikram Pandit (Citigroup), Jamie Dimon (JP Morgan), and Ken Lewis (Bank of America); came up with a series of steps to fix the U.S.e conomy, both in the short- and long-term. Let's summarize what the group decided to do . . . 

 Immediate Goals:

 > International coordination and cooperation by financial regulators
 > Establish …

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The stock market seem to be stabilizing, aided by news that the Federal Reserve will buy up short-term debt in order to get companies financially interacting again. I won't get into the gruesome details, but buying up short term debt (known as commercial paper on Wall Street - a mechanism that enables companies to borrow money overnight or or over the course of a few days) is an area that the Federal Reserve rarely gets into. Of course, these are historic times and the Fed will every tool in its arsenal to reverse the sliding economy. That's what we're seeing …

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The End.