Time to get Officer Jenny to help out the SEC on the case of busting Ponzi schemers. Bernie Madoff’s swank UES digs have a new owner, and it’s the guy who brought us stuff like Pokemon and Teenage Mutant Ninja Turtles: The businessman behind Cabbage Patch dolls and his wife have snatched up Bernard Madoff’s [...]
Entries from April 8th, 2010
Terrible Flood; Locusts: It Wasn’t The Fed’s Fault
April 7th, 2010 · 2 Comments · fail, greenspan
Everyone’s favorite ancient Fed chair found himself having a neighborly chat with some government commission today, about who wasn’t to blame for the financial meltdown. Surprisingly, Greenspan is blaming literally every single person on earth except the Fed. Even Communists, in the first paragraph of his prepared statement. It was the global proliferation of securitized [...]
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Regulation Is Old News
April 6th, 2010 · No Comments · fail
The new way to handle megabanks is an even older way: good old-fashioned religious hexes. The self-ordained Rev. Billy Talen was arrested on Easter Sunday after putting a “holy hex” on JPMorgan Chase bank, which he calls the nation’s largest financier of coal-mining mountaintop removal. The former New York City mayoral candidate and his green-robed [...]
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Profitable TARP Is Profitable?
April 6th, 2010 · No Comments · bailout
Granted, this headline is deceiving like looking at your portfolio and only counting the performance of the stocks that are actually in the green is deceiving, but the banks can at least hold their heads a bit higher on this news: The US Treasury has so far made more than $10bn on banks’ repayments of [...]
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This Is Why We Can’t Have Nice Things, Or Interns
April 5th, 2010 · 3 Comments · fail
Slave labor apparently isn’t legal. Who knew? NYTimes reports that the time-honored tradition of fetching coffee without pay in order to get a big name on your resume might have to go the way of the dodo, as more firms have been exploiting the “unpaid internship” to replace paid employees with naive, eager-beaver college kids [...]
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