I don’t feel like talking about health care reform other than to say that Jim Cramer says this will lead us into double-dip recession and he’s generally a contrarian indicator. So I’ll talk about the Fed and AIG instead. Hey, look, up in the sky! Bad assets! Not the first time something insured by AIG [...]
Entries from March 22nd, 2010
For Citi Execs, Bandit Masks Are De Rigeur
March 21st, 2010 · No Comments · bandit
To Treasury, letting the boys at $C hide behind the bandit mask is not just a privilege, but a right: The U.S. Treasury Department refused to disclose names of Citigroup Inc. executives who haggled over bailout terms in late 2008 after the bank said they might be harassed like the American International Group Inc. workers [...]
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Greenspan: I Like Big Bubbles And I Cannot Lie
March 19th, 2010 · No Comments · greenspan
Okay, it’s the closest he’s come to admitting he did it: The Crisis, by Alan Greenspan. It sounds like an airport novel. But the 66-page paper is the closest we’ve ever gotten to a mea culpa from the former Fed chief, who chaired the US central bank in the midst of a growing housing bubble. [...]
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Warren Buffett Rocks Out
March 18th, 2010 · 2 Comments · links
In case anyone needs an afternoon laugh (h/t RJ): The Buffett cameo – I won’t spoil it for you, but LOL. Backstory: “Geico puts together a video each year to play at the company’s annual employees meeting, which was held in February. Geico employees star in the video and film it, and Buffett has taken [...]
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Achtung, Currency Spies!
March 18th, 2010 · No Comments · madoff
After several submarine missions proved the Baltic Sea to be barren of vampire squid, Germany is ready to search for speculators in other arenas, namely the currency market: Germany’s Finance Minister Wolfgang Schaeuble told the Bundestag on March 16 that the country may have to consider ordering “intelligence agencies to set up surveillance of who [...]
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