Group Think, Duct Tape and Slam Dunks
SEEKING ALPHA William Patalon III Bank of American Corp. (BAC), which is getting $15 billion from the U.S. government as part of the Treasury Department’s $250 billion “recapitalization” effort, is doubling its stake in state-owned China Construction Bank Corp., and will hold a 20% stake worth $24 billion in China’s second-largest lender when that deal […]
MoreThe 17th floor, where wealth went to vanish By Diana B. Henriques and Alex Berenson Monday, December 15, 2008 The epicenter of what may be the largest Ponzi scheme in history was the 17th floor of the Lipstick Building, an oval red-granite building rising 34 floors above Third Avenue in Midtown Manhattan. A busy stock-trading […]
MoreEconomy in Turmoil and Bailout Plans Adrift THE SAN FRANCISCO CHRONICLE Carolyn Lochhead, Chronicle Washington Bureau Sunday, December 7, 2008 Washington — Detroit automakers are in line behind governors who are in line behind banks, seeking emergency aid from Washington. Nearly $8 trillion in federal commitments is already out the door, and half of the […]
MoreTHE NEW YORK TIMES November 30, 2008 One Man’s Military-Industrial-Media Complex By DAVID BARSTOW In the spring of 2007 a tiny military contractor with a slender track record went shopping for a precious Beltway commodity. The company, Defense Solutions, sought the services of a retired general with national stature, someone who could open doors at […]
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