MF Global CEO (and former Goldman Sachs CEO, and former New Jersey CEO) Jon Corzine resigned this morning, which is what you do when your company goes bankrupt. Oh, MF Global went bankrupt earlier this week. We hope you’re getting your breaking financial news from sites that update every day. Anyway, MF Global found itself [...]
Entries Tagged as 'sovereign wealth'
O Hai Dubai! Fail Never Takes A Holiday
November 26th, 2009 · 1 Comment · fail, sovereign wealth
While we in America prepare to stuff our faces, the rest of the world is giving Dubai the stinkeye (and the dollar is continuing to die in a fire, so yeah, even though our markets are closed we’re losing plenty of wealth today, too): Dubai World, the government investment company burdened by $59 billion of [...]
Tags:
At Least Someone Still Has Good Credit
June 23rd, 2009 · No Comments · sovereign wealth
Surprisingly, the US still gets a AAA sovereign rating from Moody’s despite being in debt for more money than exists and needing to borrow more as time goes on, until things get right many years from now. What’s more, the rating isn’t expected to change for another year and a half. Wish I could get [...]
Tags:
Yakov Smirnoff Joke Goes Here
March 5th, 2009 · 1 Comment · sovereign wealth
Fannie Mae and Freddie Mac bonds are no longer good enough for Russia’s National Wealth Fund, which did not actually single out those two agencies but instead banned investment in any foreign government agency’s bonds. The nation’s Reserve Fund has also been cut off from such bonds. Only through hard work and sacrifice will our [...]
Tags:
Barclays: Slick Deal Or A Way To Veil The Fail?
October 31st, 2008 · No Comments · all ur bankz, bailout, sovereign wealth
What Barclays has pulled out of a hat most recently is capital, namely up to £7.3 billion dollars from Qatar and Abu Dhabi that gives the two countries’ sovereign wealth funds a bevy of warrants, short-term convertibles and some reserve-capital instruments with a whopping 14% coupon, and – assuming all is excercised – over 30% [...]
Tags:
