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28 Apr 2010 11:21

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Politics: Pundits try to put the Goldman Sachs saga into words, struggle

  • Can this be easily explained? No, but these pundits are gonna try. Here’s a five-minute long video of TV news types trying to explain what some say is easy to explain but others say is really hard. Either way, it’s hilarious to watch them play with metaphors. source
Posted by Ernie Smith • 0 Comments • Permalink

23 Apr 2010 13:35

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U.S.: SEC officials too busy watching porn to prevent financial crisis

  • 31 Securities and Exchange Commission officials were nailed watching porn in the last two and a half years
  • 17 of those idiot workers were senior staffers who made between $100,000 to $222,000 per year source
Posted by Ernie Smith • 0 Comments • Permalink

19 Apr 2010 10:24

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World: Iceland to Europe: We swear, we don’t mean to cause drama

  • It seems we’re getting pretty good at exporting our disasters. I think people might get funny ideas about Iceland. … We’re not to blame for an eruption.
  • Icelandic political commentator Egill Helgason • Regarding the country nicked by multiple crises in the last couple of years – crises that have hit Europe as hard as the tiny island. The country, however, has reason to feel a bit of relief about the volcano. Despite its continent-grounding air drama, the country itself isn’t affected by it too much. Flights are even getting out of the capital, no problem. Maybe we should hate Iceland. source
Posted by Ernie Smith • 0 Comments • Permalink

19 Apr 2010 10:09

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Biz: Financial crisis-gobsmacked Citi actually has a solid quarter

  • $4.4
    billion     the size of Citi’s profit this quarter, their best period since 2007
  • $100
    billion     the amount the company has lost during the financial crisis
  • 7.7
    billion     the number of shares the government owns due to bailouts source
Posted by Ernie Smith • 0 Comments • Permalink

16 Apr 2010 11:18

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Biz: Goldman Sachs’ stocks look like a waterfall this morning

Posted by Ernie Smith • 0 Comments • Permalink

16 Apr 2010 11:09

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Biz: Why Goldman Sachs is feeling the SEC’s wrath this morning

  • one Goldman Sachs
    reportedly offered a
    mortgage to its
    customers, then bet
    against it on Wall Street.
  • two It managed to
    profit handily, staying relatively unscathed during the worst of the financial crisis.
  • three The SEC sued them
    this morning, making
    some fairly damning
    claims after noticing
    funny stuff. source
Posted by Ernie Smith • 0 Comments • Permalink

14 Mar 2010 21:46

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Biz: Two thresholds for Chris Dodd’s new bank-regulation plan

  • $10
    billion     the amount of assets a bank would have to have to be sanctioned for a consumer-rules violation
  • $50
    billion     the amount of assets a company would have to have to fall under the U.S.’s regulatory watch source
Posted by Ernie Smith • 0 Comments • Permalink
 

01 Mar 2010 11:10

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Politics: Warren Buffett: Health care like a “tapeworm” on economy

  • If it was a choice today between Plan A, which is what we’ve got, or Plan B, which is the Senate bill, I would vote for the Senate bill. But I would much rather see a Plan C that really attacks costs, and I think that’s what the American public wants to see.
  • Super-investor and overall smart guy Warren Buffett • Regarding the current state of health care, which he says is damaging the possibility of a clean economic recovery. “It’s like a tapeworm eating at our economic body,” he said. That’s like the coolest quote ever. He also called the 2008 financial crisis an “economic Pearl Harbor,” but said that we will eventually win the war. We economically like the way this guy talks. source
Posted by Ernie Smith • 0 Comments • Permalink

11 Jan 2010 21:32

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Biz: Obama’s thinking of charging Wall Street service fees. Hm.

  • That’s one way to get our money back from the banks. A year after being handed one of the worst financial crises to ever hit the U.S., Obama’s considering his options for making something back on that $700 billion investment that George W. Bush made back in the day. The one that’s standing out? Charging fees to companies like AIG and Bank of America. The nature of that fee hasn’t been decided yet, but we bet taxpayers might enjoy the just desserts. source
Posted by Ernie Smith • 0 Comments • Permalink

11 Jan 2010 09:56

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Biz: Higher salaries, fewer bonuses: Banks change up the mix a little

  • 65% of banks increased basic salaries for workers in the wake of the financial crisis
  • 88% cut back on bonuses – which had been vilified more than anything else source
Posted by Ernie Smith • 0 Comments • Permalink
 
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