Month September 2008

Collateral damage from Lehman bankruptcy

100 hedge funds accounts frozen They were using Lehman as their primary broker. Now the accounts have been frozen as administrators sort out the wreckage. Money market fund breaks the buck The Reserve Primary Fund money market fund was forced…

Fed takes over AIG

I don’t think they had any choice. The Board determined that, in current circumstances, a disorderly failure of AIG could add to already significant levels of financial market fragility and lead to substantially higher borrowing costs, reduced household wealth and…

No-sewer office building

C. K. Choi Building at the University of British Columbia has no sewer hookups. Instead, uses composting toilets and waterless urinals and uses a mere 132 gallons of water per day and produces compost rather than sewage.