Astonishing – seriously, astonishing – email from a guy at AIGFP to ZeroHedge claiming that a significant chunk of bank profitability in 1Q is simply AIG dumping money on its counterparties. They have gone beyond holding themselves hostage; they are actively trying to rob their majority shareholder (also known as the taxpayer) for the benefit [...]
Archive for March 30th, 2009
Scam, Now With Smoke
Posted in Corruption, Meltdown on March 30, 2009 | Leave a Comment »
Rare Optimism
Posted in Industrial Policy on March 30, 2009 | 6 Comments »
I guess the Administration just has a blind spot in the financial sector; elsewhere in the world they are able to recognize reality and make the best of a bad situation. With the auto companies, for example, they are able to admit that the current business models and plans simply do not work, and they [...]
