Karen Tumulty points me toward some depressing comments from President Bush this morning: I was in the Roosevelt Room and Chairman Bernanke and Secretary Paulson, after a month of every weekend where they’re calling, saying, we got to do this for AIG, or this for Fannie and Freddie, came in and said, the financial markets [...]
It really is a thing of beauty (via Bloomberg): Credit Suisse Group AG’s investment bank has found a new way to reduce the risk of losses from about $5 billion of its most illiquid loans and bonds: using them to pay employees’ year-end bonuses. The bank will use leveraged loans and commercial mortgage- backed debt, [...]
1. Build a time machine. 2. Go back to January 1, 2008, and buy shares of Emergent BioSolutions. It might ring a little odd, what with markets down about 40% for the year, but there actually are stocks that have had a very good 2008. I wrote a piece for Time.com about some of them. [...]
I, like lots of other people, have been reading through the pile of documents about Bernard Madoff’s Ponzi scheme that Harry Markopolos submitted to the SEC in November 2005. The WSJ describes them as “ranging from in-depth mathematical calculations that purported to show the Madoff investment strategy couldn’t work, to little more than rumor or [...]
