AIG's $60 Billion Loss, Buffett's Mea Culpa

Death is Pretty Final I’m Collecting Vinyl I’m Gonna DJ at the End of the World! – R.E.M. And the Deflation Olympics marches on with a more vicious news cycle this morning than usual. First up, the best-run insurance company on earth, AIG, announces yet another staggering loss for the fourth quarter, this time in…

Keep Your Filthy Hands Off My Clients' Money, D.C.

Oh Boy.  Talk about adding insult to injury.  The same Washington D.C. that brought us the TARP fund and all the lackadaisical oversight that came with it now has a new way of raising the money to pay for it. It seems there is an academic named Dean Baker, who would like to add a…

The Quesadilla That Changed My Mind About The Bailout

I kid you not, readers, he literally uttered the word “Citigroup” and his quesadilla was packed in a bag with plastic utensils and napkins, and he was out the door. No one asked him for ID or made a note anywhere of what he was eating that day. He just said “Citigroup” and bounced. I was on line to pay behind him with my own chicken quesadilla and a bottle of Diet Pepsi…cost to me as a non-Citigroup employee: $9.85 plus tax.