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AIG chief resigns

May 21, 2009
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AIG Chairman and CEO Edward Liddy announced his resignation today, the New York Times reports.
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Citi = The Prob

February 23, 2009
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Citi = The Prob

The financial weirdness continues this week with a plan–or proposal, maybe–hatched Sunday night to give the U.S. taxpayers a 40 percent stake in CitiGroup, the biggest (and arguably most insolvent) of the nation’s large banking institutions. As I’ve tried to explain, Citi is to financial prudence what a 1950s movie monster is to culture:...
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TARP-pay Diem!

February 2, 2009
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The New York Times finally caught on today, publishing this pretty good story about the perils of bailing out Level 3 assets held by profligate banks. To recap our saga: Back in September, Treasury Secretary Henry Paulson rolled out the Troubled Assets Relief Program, fondly known as TARP, and told congress that the $700...
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RIP Tanta

December 2, 2008
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A brilliant, kind, patient, and acerbic wit died Sunday after a nearly three-year bout with ovarian cancer. Doris Dungey, 47, was a Marlboro-based mortgage banker who began blogging under the name Tanta in 2006, and explained in detail what was about to take place in the financial world. Although her true identity was known...
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Why are Taxpayers Paying Paulson’s Goldman Sachs Cronies Secret Billions?

November 4, 2008
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The Columbia Journalism Review’s Dean Starkman posted an analysis today on why we should be outraged. He points out that the AIG bailout money ($123 billion, give or take) is going straight to counterparties -including Goldman Sachs-and not even stopping at AIG long enough for a cup of coffee. But who are all these...
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