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Fuzzy AIG math

October 28, 2009

A bit of out-of-context math from a recent Bloomberg article on AIG: The Federal Reserve Bank of New York, the regional Fed office with special responsibility for Wall Street, opened an $85 billion credit line for New York-based AIG. That bought it 77.9 percent of AIG and effective control of the insurer. The government’s commitment to […]

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More Zero Hedge nonsense

October 26, 2009

Via Naked Capitalism: I just came across a post on Zero Hedge called “An Overview Of The Fed’s Intervention In Equity Markets Via The Primary Dealer Credit Facility.” Now, that’s a mouthful. As far as I can discern, the post’s purpose is to expose alleged equities market manipulation by the Federal Reserve. However, I found […]

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David Brooks entertains/terrifies

June 16, 2009

David Brooks has an op-ed tracking the hypothetical lifecycle of Obama's healthcare plan which I found entertaining because I was sure he was being sarcastic. How could I not, with choice bits like this: You are daunted by the challenges in front of you until you remember that by some great act of fortune, you […]

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JPM, AXP ask taxpayers for money to pay back taxpayers

June 1, 2009

Almost like a Ponzi scheme, but not quite: JP Morgan and American Express plan to issue common stock in order to pay back their TARP funds. Essentially, the two firms are going to sell parts of themselves to taxpayers in order to increase their cash, which will then be used to buy back, yes, parts […]

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