Month October 2008

The next round of bank writeoffs cometh

Slicing and dicing mortgages into bizarre investment products into CDOs, then buying and selling bogus insurance on them in the form of Credit Default Swaps apparently wasn’t enough… Nope, they had to go and create synthetic CDOs, in which the…

The fat lady is clearing her throat

Not that it’s over. Not by a long shot. But still… Obama opens biggest lead over McCain. Fumble-tongued McCain agrees western Pennsylvania is racist. Palin children traveled on state expenses. She charged state for children’s travel and amended expense reports.

Financial and economic news

Wal-mart: Scenes from the economic front lines. They report that shoppers are using less credit and spikes of purchases occur around pay periods, including purchases of baby formula. Fed offers $540bn to prop up money funds. This makes me a…