Here’s a move for everyone to practice. Take your dominant hand, open it, and hold it at arm’s length with the palm side facing towards you. Bring it, rapidly, towards your forehead as if you were trying to smash a fly there. Ready? Now do it for real, because AIG is suing the government (you [...]
Entries from March 25th, 2009
BREAKING NEWS: Frank Brosens Realizes Running The TARP Would Suck
March 24th, 2009 · 1 Comment · breaking news
Leading contender for Top O’ The Tarp, hedgie and Democratic donor Frank Brosens has declared he can think of many things he would rather be doing, which probably includes running his hedge fund, going for long walks in the park and doing anything other than running the TARP. (His pedigree also included GoldenSlacks, so sadness [...]
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First You Get The Money, Then You Get The Power…
March 24th, 2009 · 3 Comments · Timmay
Since we’ve determined that an 80% government stake – nationalization de facto – isn’t the same as nationalization de jure, Geithner thinks it’s high time we go ahead and accept the fact that non-banks should be candidates for nationalization, too. Who best to handle such a daunting task? Him, of course: Geithner made it clear [...]
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Why Recovering Millions Costs You Billions (Trillions?)
March 24th, 2009 · 4 Comments · bailout, Timmay
All that agitating about $180ish million worth of AIG bonuses appears to have cost a whole hell of a lot more than that, if you take a look at the public-private asset plan unveiled yesterday (“public-private” in that the public bears the losses, the private concerns stand to make the gains): Managers of some major [...]
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TARP 3, 4, What Are We Up To Now?
March 23rd, 2009 · 15 Comments · fail, Timmay
Since the details of Geithner’s cunning new plan began leaking out over the weekend, I have spent nearly every waking moment reading it, researching it, considering it, arguing about it with alyx and writing up a detailed opinion on its effectiveness and likelihood of succeeding. It’s long, so it’s going behind a “More” cut.
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