Reading Time: < 1 minute AIG bonus. 90% tax. Clawback (that’s new word for me). Goldman Sachs. The bank rescue (aka toxic assets) plan Tim Geithner (WSJ op ed March 23) My Plan for Bad Bank Assets; NY Times article; WSJ article. Paul Krugman (the recent Nobel Economics winner) comments (one, two) Meet the press, Face the Nation and ABC
Reading Time: < 1 minute (Update 31March09) Wells Fargo is saying they may cut foreign staff (source: marketWatch). (Original) I was expecting Coca Cola’s proposed Huiyuan Juice acquistion go through, but obviously things did not turn out as I expected. While the free trade people in the US are upset by this, they should remember in 2005, the US congress
Reading Time: < 1 minute From Charlie Rose, March 17. A conversation about AIG with Hank Greenberg former chairman and CEO of AIG, Carol Loomis Senior editor-at-large of “Fortune”, Gretchen Morgenson of “The New York Times” and Meredith Whitney.
Reading Time: < 1 minute It appears CBS 60 minutes have hit two runs in a row. Last Sunday they had current Fed chairman, Ben Benanke on the show. This coming Sunday, they will have President Obama. Also, Mr. Obama is going to appear at Jay Leno’s Tonight show this Thursday 3/19. Those two shows (I mean 60 minutes vs.
Reading Time: < 1 minute google finance (NYSE:BGP) cash flow, note the numbers in bold In Millions of USD 52 weeks ending 2008-02-02 52 weeks ending 2007-02-03 52 weeks ending 2006-01-28 52 weeks ending 2005-01-23 Issuance (Retirement) of Stock, Net 7.60 -122.70 -238.30 -132.50 Issuance (Retirement) of Debt, Net 43.40 303.30 -1.40 6.80 I has been a Borders customer for
Reading Time: < 1 minute (Update 04-30-2020) The below CBS 60 minutes link are no longer valid. But I found a CNBC video from Harry on GE (another ponzi scheme, I agree). (Original 03-12-2009, note the market low on 03-05-2009) Harry Markopolos blew the whistle on Madoff long time ago. But sadly SEC did not listen. Here is the CBS
Reading Time: < 1 minute Cramer Stewart saga goes on. Madoff will go to jail, for life. He deserves it. Just thinking how many people (esp. the older people) lives turned upside down because of his ponzi scheme. How many clothes-less emperors still out there? Lesson for ordinary investors Refer to John Bogle, 6 lessons for investors. Get self educated:
Reading Time: < 1 minute A bunch of politicians (accounting newbies) questioning accountants C-span video here. All right, more finger pointing. Now people (oh, I mean Wall Street and their friends at Washington) are blaming mark to market (wiki), for the financial crisis. This is almost same as blaming starbucks for one’s coffee addiction problem. Coffee, if consumed modestly, is
Reading Time: < 1 minute Alan Greenspan, the former Fed chairman wrote an article The Fed Didn’t Cause the Housing Bubble on WSJ to defend himself. He was saying his low fed rate from 2003 to 2005 is NOT the cause for the housing bubble, and current financial crisis. Interesting stuff. I remember Oct. Anderson Cooper (CNN) did a series
Reading Time: < 1 minute (Update 06-13-2020) The links below no longer work. This is one nature of the internet: nothing lasts forever. Here is a new article Tang Wei Zhen. (Original) Tang Wei Zhen 唐炜臻 (company) claimed to be Chinese Buffett (as shown in the following 11’24” video, link here). But apparently he is Chinese mini-Madoff. Chinese story here
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