Month November 2007

FBI says Blackwater killed 14 Iraqis without cause

Federal agents investigating the Sept. 16 episode in which Blackwater security personnel shot and killed 17 Iraqi civilians have found that at least 14 of the shootings were unjustified and violated deadly-force rules in effect for security contractors in Iraq.

Another day, another $37 billion of downgrades

Bond rating agency Fitch just downgraded $37.2 billion of toxic glop CDOs from highest rank AAA to junk, the lowest grade. This led a commenter to say Collateralized Debt Obligations should be renamed Cannonballized Debt Obligations. In related news, E-Trade…