Since it’s not like we need the money or anything, the US is set to forgive $30m in debt by Indonesia, in exchange for hugging some monkeys or some crap like that. No, it’s part of the Tropical Forest Conservation Act. Under the Tropical Forest Conservation Act of 1998, developing nations with a significant tropical forest, [...]
Entries from June 30th, 2009
AIG: This One, You Might Have Heard It Before
June 29th, 2009 · 1 Comment · fail
AIG warns of a “material adverse effect,” again: AIG, the insurer bailed out by the U.S., said that valuation declines on credit-default swaps sold to European banks could have a “material adverse effect” on the company’s results. The risk of losses on the derivatives may last “longer than anticipated,” the New York-based insurer said late [...]
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Bernie Madoff Gets 150 Years
June 29th, 2009 · 3 Comments · madoff
From everywhere: Bernie Madoff’s sentencing was held today, and he’s been given what sounds like a whopping 150 years in prison, which, if he were to serve the full term, would leave him in jail up to the ripe old age of 221, in the year 2159. This sentence might make you feel better for [...]
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In Ur Congress, Tradin Ur Bank Stocks
June 29th, 2009 · No Comments · all ur bankz
Reader Robert S. sends me a link to the Cleveland Plain Dealer this morning, where they’ve parsed the trading records of the US House Financial Services Committee to find out that yes… these guys have been trading bank stocks at the same time they’re voting on bailouts. Some examples: Anticipating bargains or profits or just [...]
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I Guess Weighing In On Mark Sanford Is Unavoidable
June 28th, 2009 · No Comments · fail
So some state governor had an affair. Who cares? It was the kind of story Jason and I discussed off the grid when he first went missing, but there wasn’t anything to make it worth posting here. Other than, well, the obvious joke of “So THAT’S why he wanted to reject the federal stimulus for [...]
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