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…
Bailout
Top 10 New Auto Models From Detroit Next Year
So with each passing day, the U.S. automakers seem to be closer and closer to a “gentle, targeted bankruptcy”, whatever the f@#% that means. Here’s a sneak peek at the 2010 models coming out of Detroit to a dealership near you:
Fun With Math: How Much Has the Bailout Cost?
I recently used this data in a client presentation to illustrate, and give context to, the cost of the 2008 bailout versus other large expenditures in US history. The numbers themselves come from Bianco Research LLC and only factor in expenditures as of mid-December, the dollar amounts have only grown since then. Marshall Plan 115.3 billion…
One Year Later: The Fall of Bear Stearns
It was a day many on The Street will never forget and in many ways, we probably shouldn’t. The events of March 17th 2008 will forever be a reminder to me that no one is too big, wealthy, established or smart to fail. The night before, on March 16th, a Sunday, the details about…
This Just In: Cuomo Wants AIG Names by 4PM
Headlines from Reuters: March 16 (Reuters) – New York Attorney General Andrew Cuomo issued a letter to American International Group Inc AIG Chief Executive Edward Liddy: * Cuomo threatens to subpoena American International Group Inc AIG over bonuses * Cuomo says has requested list of individuals who are to receive payments under retention plan, as…
Rage Against the Bonus Machine
Now we are being told that our officials are unable to curb $400 million in bonus payments to AIG because the payments are “contractually obligated” to be made. There’s a great scene in the movie Major League where Corbin Bernsen‘s character Roger Dorn complains to the GM of the team about his contract and what he’s…
Cuomo to Thain: I Know What You Did Last Christmas
Aww Yeah! Forget about that Jon Stewart vs. James Cramer noise…who cares? The real action is taking place in the New York State Attorney General’s Circle of Death between Andrew Cuomo aka Spitzer 2.0 and Merrill Lynch aka the Hamburglar of Wall Street. From DealBook (NYT) The office of Attorney General Andrew M. Cuomo filed…
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…
Ritholtz: Get Long Torches and Pitchforks
Barry Ritholtz of The Big Picture makes the case for Bank Nationalization, this time in a fantastic interview on Yahoo!’s Tech Ticker. Must-see whether you agree or not. Ritholtz on TechTicker
Don't Blame the Repeal of Glass-Steagall…Blame Risk Management
Over on Breakingviews, Hugo Dixon is taking issue with those who believe bringing back some version of the Glass-Steagall Act would prevent the financial collapse we’re now fighting through every day. Why would anybody run a casino and a utility under the same roof? That is the supposedly killer argument of those who want to…
