While you’re reading this post, I will be in Las Vegas, arguably the physical gambling capital of the free world. Meanwhile, the United States is about to get spanked by the EU for its intolerance to internet gambling (insert Anurag Dikshit joke here). SAI reports that Barney Frank is about to take up the cause [...]
Entries from February 22nd, 2009
What Do President Obama, You and I Have In Common?
February 21st, 2009 · 4 Comments · all ur bankz
Answer: None of us want to own Citigroup. Or, so he says, at least: [T]alk of nationalization of Citigroup Inc., and Bank of America Corp., prompted investors to continue to balk, worried that the government would have to take control and wipe out shareholders in the process. Citigroup fell 20 percent, while Bank of America [...]
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2009′s “If It Doesn’t Fit, You Must Acquit”
February 20th, 2009 · 8 Comments · fail
What happens when you bundle, repackage, fold, spindle and mutilate mortgages over and over again? Inevitably, the purported noteholders sometimes lose the paper trail needed to prove they actually own the note. In other words – “Foreclose THIS!” Good article from Chicago Law Bulletin (thx JB). This is my first experiment with Scribd – the [...]
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How Saab Got Its Groove Back
February 20th, 2009 · 9 Comments · win
GM broke things off with Saab this morning, saying, “It’s not you, it’s me. Seriously, it’s me. It’s me like you would not believe.” Saab immediately showed its gratitude by filing for Sweden’s version of Chapter 11, which is a lot like ours except with more lutefisk and it includes free Greatest Hits CDs from [...]
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Ken Lewis, You Got Served
February 20th, 2009 · 10 Comments · all ur bankz
If you’re Ken Lewis, you’ve gotta think, when you hear a knock on the door, it’s probably pranksters dropping off a lit bag of poo or something, and you don’t answer. Today, though, it wasn’t flaming crap, it was a little blue bundle of papers: Bank of America Corp.’s (BAC) Chairman and Chief Executive Officer [...]
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