Guess who’s back, in an increasingly big way! Your favorite and mine, Maurice Greenberg, has been building up the next insurance conglomerate to be too big to fail while we’re all distracted watching his last project, AIG, fail. Even as he has been lambasting the government for its handling of A.I.G. after its near collapse, [...]
Entries from October 27th, 2009
The Banks Will Profit, Resistance Is Futile
October 27th, 2009 · 2 Comments · all ur bankz
Long rumored, now coming into practice: credit card annual fees for some customers who aren’t generating enough revenue for $BAC and $C: Earlier this month Bank of America started notifying [some customers] that they will be charged a new annual fee of $29 to $99. “There is a big segment of their population that they will [...]
Tags:
All Washed Up, Madoff Associate Edition
October 26th, 2009 · 1 Comment · madoff
Perhaps the only relief from the specter of association with Bernie Madoff is the sweet release of death. Reporting, as solemnly as is possible around here, the death of Bernie Madoff’s associate Jeffry Picower, of the kind of natural causes that could take down any garden-variety fatcat: A man accused of making more than $7 [...]
Tags:
Likely Won’t Help The Newspaper Industry
October 21st, 2009 · 5 Comments · fail
Brace yourselves, everyone. It would appear that credit rating agencies might have been a little bit more than negligent up through last year. Oh noes! A McClatchy Newspapers investigation has found that Moody’s punished executives who questioned why the company was risking its reputation by putting its profits ahead of providing trustworthy ratings for investment [...]
Tags:
Deflation And Some Sunday Links
October 18th, 2009 · 1 Comment · links
- A real WTF move: the state of Colorado, whose minimum wage is tethered to inflation, will be LOWERING, not raising, said minimum standard. Apparently, the cost of whatever is in their market basket has actually gone down. The difference we’re talking about is small (from $7.28, it will be going down 3 cents to [...]
Tags:
