Sen. Carl Levin released some e-mails yesterday by Goldman Sachs boys showing how the firm tried to manipulate markets in the spring of 2007. The WSJ buried the story and mis-headlined it. (HT CJR) But Naked Capitalism has a better take on what seems to have happened. Wonk Warning: Naked Capitalism isn’t for beginners,...
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The settlement is interesting, though, because Goldman doesn’t get to say it did nothing wrong, and it does have to cooperate in further investigations. Reports so far suggest that’s about El Fabuloso, but I think there could be more in store.
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As AIG’s former wonderboy, Joe Cassano, tells congress that he regrets nothing and by the way, is still right, Gretchen Morgenson and Louise Story of the New York Times are telling us something we didn’t already know about the $180 billion AIG bailout. No, not that it really was meant to benefit a few...
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As expected, the bill contains no curb on too-big-to-fail institutions.
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Without a loophole to grab hold of, every entrepreneur is threatened.
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Go with the fraud and make big bux or fight & get fired, earning the right to battle for your job back in court for five or six years, with a less-than-10-percent shot at winning.
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in 2009 the FBI investigated 5,316 bank robberies, recovering approximately $8 million out of a total of $46 million that had been stolen—less than a week’s pay for Paulson.
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Props to the NT Post for today’s front page headline: “Sachs of $#!T”. The hieroglyph makes an appearance again on the jump page. For more shit, see this video. Meanwhile, buy-my-shitpile-dot-com has morphed into some kind of inexplicable hemorrhoid video compilation, with all possible spellings of that word. Better to spend some time with this...
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New York Times Opinionator blogger William D. Cohan steps in it today with this long plea for a presidential pardon for ex Goldman Sachs arbitrageur Robert Freeman, who two decades ago pleaded guilty to mail fraud, served four months in Club Fed, and paid his million dollar fine with a personal check. It was...
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On Saturday night the New York Times posted an interesting piece on Goldman Sachs’ connection to the unfolding Greek tragedy. For those who have missed it, for the past week or two capital markets have been fretting over what they cheekily call “the PIIGS”—Portugal, Italy, Ireland, Greece, and Spain. The operative concern is too...
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Here’s the government trying to hide the bad deal it made on taxpayers’ behalf. The e-mails leave no doubt: Tim Geithner gave the banks, including a foreign bank, at least $13 billion extra U.S. taxpayer dollars over and above the amount AIG execs were negotiating. Bloomberg got it first. NYT‘s Dealbook gives you the...
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The Wall Street Journal has an interesting story today explaining that AIG has gotten back several billion dollars in collateral it posted last year against losses in the credit-default swap market. But, most of the “bad” contracts, which now look not-so-bad, were “closed out” by the government bailout, meaning that AIG lost that money...
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How to Throw a Louisiana Style Crawfish Boil! Sizzlin’ Summer: Ordering 1. Figure out how many people you have attending. I usually do this by selling tickets for $25 each via Paypal. 2. Once you know how many people will be attending, you can figure out how many pounds of crawfish you need to order. The suggested a By Ben Claassen III 5/15/2013
Ice Cold Water Feature: “Ice cold water/Only one dollar,” Joshua Anderson sings through a megaphone. He looks something like a black Mr. Clean. By Baynard Woods 7/31/2012
Unnatural Selections Music: Local metalheads pick the best of Maryland Deathfest By Michael Byrne 5/25/2011
Mari Luna Bistro Free Range: A new city Mari Luna doesn’t quite live up to its suburban siblings By Mary K. Zajac 5/4/2011
Disorder in the Courts Mobtown Beat: Some courthouse races may be obscure, but they're rarely dull By Edward Ericson Jr. 9/8/2010
Bluegrass and High Tides Free Range: Yet another adroit, innovative old-fashioned/newfangled spot succeeds By Mary K. Zajac 8/11/2010