Gleaned from the twittersphere: FT.com / Comment / Opinion – Ten principles for a Black Swan-proof world. Man some good common sense in here. Business plans a waste of time. Sounds like your typical entrepreneur would be far better off […]
Dave Chen pointed me towards The Big Takeover, a great telling of the AIG story. People are pissed off about this financial crisis, and about this bailout, but they’re not pissed off enough. The reality is that the worldwide economic […]
Who is getting the bank bailout money – CNNMoney.com. Wow, $10.5Trillion so far. $35,000 from each US citizen’s pocket. To pay for years of poor decision making, greedy decision making. F%^k.
Buying Risky Assets | The Big Picture. — cogent picture explaining the program.
Ben was so right | The Big Picture. The backlash against AIG bonus backlash is in full swing. I for one am glad though that the bonus issue has exploded. While the dollars involved are not material to our country, […]
“The latest admission from the (defunct yet living) company is that well over $100 billion in taxpayer monies has gone to counter-parties at 100 cents on the dollar — no haircut, no penalty, no cost to those who made bad […]
“It’s time to let the sun shine in on this mess.” via Scott Loftesness: The AIG Firestorm Spreads. Hear hear.
The Big Picture | A Memo Found in the Street. Icahn is harsh too and advocates clawbacks. Gross willing to manage the assets for free so hopefully we don’t pay anyone a lot for this work. The longer this thing […]
From Marginal Revolution: Economists Speak: As economists, we want to express to Congress our great concern for the plan proposed by Treasury Secretary Paulson to deal with the financial crisis. We are well aware of the difficulty of the current […]
On the today show, the figure $900B was thrown around as the total cost of bailouts so far (Bear, Fannie and Freddie, AIG). That is about $3,000 for every citizen of the US. Congratulations! We entrusted the financial services sector […]