Group Think, Duct Tape and Slam Dunks
Citi
Propping Up a House of Cards
February 28, 2009 Talking Business By JOE NOCERA THE NEW YORK TIMES Next week, perhaps as early as Monday, the American International Group is going to report the largest quarterly loss in history. Rumors suggest it will be around $60 billion, which will affirm, yet again, A.I.G.’s sorry status as the most crippled of all […]
MoreGovernment Bailout Hits $8.5 trillion
Kathleen Pender The San Francisco Chronicle November 26, 2008 The federal government committed an additional $800 billion to two new loan programs on Tuesday, bringing its cumulative commitment to financial rescue initiatives to a staggering $8.5 trillion, according to Bloomberg News. That sum represents almost 60 percent of the nation’s estimated gross domestic product. Given […]
MoreWall Street Bonuses Are Same As 2004
January 29, 2009 What Red Ink? Wall Street Paid Hefty Bonuses By BEN WHITE By almost any measure, 2008 was a complete disaster for Wall Street — except, that is, when the bonuses arrived. Despite crippling losses, multibillion-dollar bailouts and the passing of some of the most prominent names in the business, employees at financial […]
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