Day March 15, 2008

Why Bear Stearns failed

Naked Capitalism details the multiple reasons for the collapse, the precipitating event being rumors of financial problems at Bear caused massive withdrawals of cash by hedge funds and other institutions. Did others deliberately push Bear and that Carlyle hedge fund…

Spitzer’s call girl could make $5 million

Hustler has offered $1 million, as has a movie studio. Her music, which was already on the net, has been downloaded 300,000 times, garnering $200,000+ in sales. My favorite, a possible “Client Number 9” perfume deal. I’m guessing the other…

Beluga skysail complete 12,000 mile maiden voyage

“We can once again actually ‘sail’ with cargo ships, thus opening a new chapter in the history of commercial shipping.” The innovative Skysail on a cargo ship provided 20% of the propulsion, thus saving fuel and cutting emissions. It’s funded…