We absolutely do see more people coming in naming either a job loss or huge financial reversals or big investments with Bernie Madoff.
Sigurd Ackerman • The medical director at New Canaan, Connecticut’s Silver Hill Hospital rehabilitation facility, on the high number of former bankers coming in with alcoholism problems. Many (well, former) bankers live in New Canaan. • source
Why it needs to die Simply put, it’s too freaking big. Any company that posts a $61.5 billion loss in income in a single quarter – they lose more money in a minute that most of us see in a year – is too freaking big. Ever throw $400 grand into a fire, then do it again 150,000 times? It’s kind of like that. source
Why it needs to die Simply put, it’s too freaking big. Any company that posts a $61.5 billion loss in income in a single quarter – they lose more money in a minute that most of us see in a year – is too freaking big. Ever throw $400 grand into a fire, then do it again 150,000 times? It’s kind of like that.
Government control In exchange for yet another $30 billion bailout, two of AIG’s largest assets – American International Assurance and its Asian operations – will be directly owned by the government and will be sold. Taxpayers, who now largely own AIG, will reap the benefits – eventually. source
Why it needs to die Simply put, it’s too freaking big. Any company that posts a $61.5 billion loss in income in a single quarter – they lose more money in a minute that most of us see in a year – is too freaking big. Ever throw $400 grand into a fire, then do it again 150,000 times? It’s kind of like that.
Government control In exchange for yet another $30 billion bailout, two of AIG’s largest assets – American International Assurance and its Asian operations – will be directly owned by the government and will be sold. Taxpayers, who now largely own AIG, will reap the benefits – eventually.
A smaller, leaner AIG Why is the government putting so much work into keeping the monster alive? Well, if they don’t, it will worsen the stock market collapse even further. But when the dust is settled, don’t expect the company – if it survives – to remain in its current form. It’s too freakin’ big. source
The good bank. After years of attempting to be a “financial supermarket,” Citi’s looking to move back to its old ways. On Jan. 22, the corporation plans to shed its current approach and slim up. They will focus primarily on corporate, investment and retail banking. The company recently agreed to merge its Smith Barney brokerage with Morgan Stanley.
The good bank. After years of attempting to be a “financial supermarket,” Citi’s looking to move back to its old ways. On Jan. 22, the corporation plans to shed its current approach and slim up. They will focus primarily on corporate, investment and retail banking. The company recently agreed to merge its Smith Barney brokerage with Morgan Stanley.
The bad bank. Nearly one-third of Citi’s assets, or $600 billion, would be separated from the rest of the company, to eventually be sold off. By segregating the bad assets, the company could find itself on stronger ground in the long run, some analysts say. Citi was one of the recipients of some federal bailout money. They got $25 billion in October and another $20 billion in November.
He muttered “Die” before he was caught. Marcus Schrenker, the daredevil amateur pilot on the run from the law for sketchy business practices, was caught last night. He was bleeding from his wrist and barely conscious. Schrenker attempted to fake his own death in a plane crash on Sunday, then sped off on a motorbike. source
What happened? Authorities say that Marcus Schrenker, a 38-year-old money manager wanted on financial fraud charges, attempted to fake his own death on Sunday by crashing the plane he was flying in Florida, while parachuting out safely in Alabama. source
What happened? Authorities say that Marcus Schrenker, a 38-year-old money manager wanted on financial fraud charges, attempted to fake his own death on Sunday by crashing the plane he was flying in Florida, while parachuting out safely in Alabama.
Cinematic getaway? Schrenker, when plotting his escape, hid a red motorbike in a shed near the point where he jumped out of the plane. The bike is gone, and his clothes were left behind. “He could be anywhere at all,” said Huntsville, Ala. Police Chief David Latimer. “Within 10 hours he could be in New Orleans, halfway to Houston, in Atlanta, anywhere.” source
What happened? Authorities say that Marcus Schrenker, a 38-year-old money manager wanted on financial fraud charges, attempted to fake his own death on Sunday by crashing the plane he was flying in Florida, while parachuting out safely in Alabama.
Cinematic getaway? Schrenker, when plotting his escape, hid a red motorbike in a shed near the point where he jumped out of the plane. The bike is gone, and his clothes were left behind. “He could be anywhere at all,” said Huntsville, Ala. Police Chief David Latimer. “Within 10 hours he could be in New Orleans, halfway to Houston, in Atlanta, anywhere.”
A high-flying lifestyle Schrenker, an investment manager who lived on the edge as an experienced pilot who was unafraid to pull off impressive stunts, saw his shady business dealings catching up with him. He faces charges in Indiana and his company recently lost a judgment in Maryland. He also faces charges for the plane crash. source