It’s Bank Failure Friday again
The FDIC seized three banks today, including Downey Savings and Loan of Newport Beach CA, which had truly awe-inspiring amounts of toxic waste on the books.
Politics in the Zeros
"A republic, if you can keep it." Vegas, taxes.
Politics in the Zeros
"A republic, if you can keep it." Vegas, taxes.
Month November 2008
Dealbreaker on the future for Citigroup
But wait, could a rescuer be coming? Somali pirates in discussions to acquire Citigroup (C) The pirates will finance part of the purchase by selling new Pirate Ransom Backed Securities. The PRBS’s are backed by the cash flows from future…
Cara is happy Obama got elected
CaraScissoria has five new greeting cards celebrating Obama being elected.
The ill-considered problem of a GM bankruptcy
If GM does a Chapter 11, they would need, as companies in bankruptcy often do, debtor-in-possession financing to get them through the reorg. Such debt is low risk because it comes before all other debt, but given how much GM…
The case for Resilient Community
Some years ago I visited two villages near Gampaha, Sri Lanka. Both were small and poor. Both were inhabited by members of Rodhi caste, the Sinhalese version of untouchables. But there, all similarity ended. In the first, families of five…