New York Times

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…

Retraining Investment Bankers in New York City

According to a story in the New York Times, Mayor Michael Bloomberg plans to stem the loss of talent and jobs from the ailing financial sector by retraining investment bankers, similar to what Detroit has done with it’s laid-off auto workers.  With an expected 65,000 total jobs to be lost on Wall Street, will Bloomberg’s…

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…