Haiku of the month

Postmark: Grand Caymans Dear SEC, I refuse To get registered

“Don't be fooled by apparently encouraging signs in some sectors of the economy. Down on the nation's shop floor we see cash-starved businesses continuing to disappear, and unless the continuing liquidity crisis is tackled this recession is going to have a very long tail indeed.”

Tyron Courtman, president of TMA (UK), a trade association for turnaround professionals, quoted in a press release

“While we're still digging ourselves out of the greatest economic crisis since the Great Depression, private equity firms are shoveling dirt back in the hole. Firm leaders still argue that the overleveraged, privatized and market-worshipping financial model they perfected – uninhibited by regulation and enforcement – is key to rescuing our nation's banks.”

Andy Stern, president of the Services Employees International Union, in an article in the Wall Street Journal on private equity interest in the banking sector

“To call this compensation is to stretch the definition of the word beyond all recognition. At the time of the IPO, Mr. Schwarzman exchanged his interest in the partnership that he'd held for decades for stock. He agreed that the stock would vest over four years so investors would be assured that he was committed to the firm.”

Blackstone Group spokesman Peter Rose, responding to a study that named firm founder Stephen Schwarzman as America's most highly compensated chief executive

“This is further evidence that the worst for the global economy is behind us and sights are now set on recovery.”

Robert Kavcic, an economic analyst at BMO Capital Markets, tells Canada.com there are reasons to be optimistic as France and Germany officially emerge from recession