New York Times

Creating a Bailout Army of Retail Investors

I’m actually OK with this one.  If the taxpayers are going to be on the hook for the losses, they should get a crack at the upside, too (hopefully there will be an upside). And if that opportunity comes in the form of retail funds created by quality organizations like the Pimco‘s and the BlackRock‘s…so…

About F&%$in' Time: Homebuilders Merging

Watching the homebuilders stubbornly try to go it alone over the last few years has been highly frustrating, like an adult chaperon at the 6th grade dance watching the boys stand on one side of the gym and the girls on the other.  When you have a group of companies facing this type of nosedive…

Sucks to be Cerberus

Oopsies! Steven Feinberg:  Oh my gosh, honey, are you awake? Mrs. Feinberg:  Yes, what is it, Dear?  You sounded like you were having a nightmare… Steven Feinberg:  Yeah, it was weird…I dreamt that my private equity firm owned both GMAC and Chrysler!  It was horrible! Mrs. Feinberg:  Well…umm…ok, go back to sleep, hon.  Everything will…

Goodbye Rick Wagoner…and Maybe GM

In the New York Times, Micheline Maynard wrote a pretty balanced account of how Rick Wagoner became CEO of General Motors (GM) to start with and why many of the problems facing the company were already in place before he took control about a decade ago. The article raises more questions than it actually answers….

Deadbeat Biker Gangs and Retired Dentists

It will come as no surprise to you to read that people who bought Harley-Davidson (HOG) motorcycles with sub prime loans have started to default on their payments.  What?  Yep, the crisis has finally gotten ugly for the biker set. From the New York Times: In a pattern similar to that of the housing bust, Harley…

The Career Politician Who Sucks at Politics

I’ve really only heard Christopher Dodd‘s name peripherally over the years.  The Career Democratic Senator from Connecticut’s name has been popping up more and more now that his constituents are starting to learn about how much he loves rogue financial corporations. From the New York Times: Across Connecticut, anger is erupting against Mr. Dodd, the…

David Friehling: Madoff Henchman #1

So, they got the accountant yesterday.  His name is David Friehling and he inherited an accounting business in New City from his father-in-law which he proceeded to turn into a gristmill for the Madoff fraud, falsifying SEC filings and auditing statements for $186,000 in fees a year. Nice guy, wonder what’ll happen to him in…

AIG to Taxpayers: F@$% You

Attention AIG Executives: THE NATIONAL BACKLASH IS COMING.  CASH THOSE BONUS CHECKS AT YOUR OWN PERIL. _____________________________________________________ The below is an actual first paragraph of an article in the NY Times business section this morning.  Seriously, its actually real. The American International Group, which has received more than $170 billion in taxpayer bailout money from…

Get-Tarp Hero: Take This TARP and Shove It

More banks giving the money back.  Fabulous.  I dont care that their reasons are selfish, the point is that there are winners and losers again and someone out there still has some fight left in them. From the New York Times: Financial institutions that are getting government bailout funds have been told to put off…

NYT: CNBC is on a War Footing

Fairly objective article in the New York Times describing how CNBC can actually make hay while the sun is not shining: “this is CNBC’s equivalent of a war. Just as the first cable news channel, CNN, rose to prominence during the gulf war in 1991, and another one, the Fox News Channel, became a ratings…