We’d like to take this moment to congratulate RBS on posting the largest loss in UK history, thus becoming the first bank to sign up to the British government’s asset protection plan. As FTAlphaville says, this little bundle of joy is their very own AIG: Thursday’s statement from the stricken bank reveals that the government [...]
Entries from February 26th, 2009
I Did Not Have A Plan C
February 25th, 2009 · 4 Comments · fail, subprime
If the worst happens and I lose my house, I have long believed I can always go live in a cave. As long as I have a couch and a giant TV, I think I can live anywhere and be happy enough, and caves are free. But what do you do when your cave is [...]
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CitiFAIL
February 25th, 2009 · 3 Comments · fail
Not that I really have any business haranguing anyone over website downtime, but I’ve received emails over the last couple days related to Citi’s outages on their consumer and business banking websites. It’s been down, I think, about an hour as of this post. Perhaps DDoS is part of the banking “stress test.” (Widely repeated [...]
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Seems Like A Bad Idea
February 25th, 2009 · 7 Comments · all ur bankz, bailout, fail
First, my apologies for inflicting man-titties on you before many of you have had your morning coffee or eightball, however you get going first thing in the morning. There’s a reason for it, I swear. Those of you who watch House, M.D. may be familiar with the scenario of putting an already sick patient on [...]
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Does Merrill Lynch Ever Have Karaoke Night?
February 24th, 2009 · 5 Comments · all ur bankz
…’cause John Thain apparently loves to sing: Former Merrill Lynch chief executive John Thain told [Andrew Cuomo's] investigators that Bank of America CEO Ken Lewis was aware Merrill employees would be awarded billions of dollars in bonuses before BoA’s takeover of Merrill became effective January 1, according to sources familiar with the investigation. Andrew Cuomo [...]
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