Recent Blog Posts
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Ooops
Nov 23 200912:01 am EDT -
The Era of the Renminbi Is at Hand
Nov 20 20092:55 pm EDT -
Computer Glitch Snarls Air Traffic
Nov 19 200910:29 am EDT -
Dollar Doldrums? What Dollar Doldrums?
Nov 19 20098:48 am EDT -
American Express Makes a Revolutionary Deal
Nov 18 200912:05 pm EDT -
Calpers Puts Pressure on Private Equity Funding and Fees
Nov 18 200910:27 am EDT -
Madoff Makes Millions (for Others)
Nov 18 20096:04 am EDT -
Lazard Looks Within Its Ranks for New Chief
Nov 17 20091:44 pm EDT -
A Brutal Morning for Geithner
Nov 17 20098:02 am EDT -
GM to Start Payback
Nov 16 20095:57 am EDT
What Do Bush and Castro Have In Common?
Tonight Show host Jay Leno had an acid riff on business and bailouts on his show last night. A sample:
"Little bit of history trivia. It was this week, actually yesterday, in 1961, that Fidel Castro announced ... he was a Marxist and would turn Cuba into a communist country where the government would take over all the major industries. Or as we call that today, a bailout."
"And A.I.G., you know the insurance company that's getting over $11 billion of our dollars in bailout money? Well, they announced they're giving 130 of their executives cash awards of up to $3 million. But they say, 'Oh, these are cash awards, not bonuses.' They say they are payments to guarantee that their top executives stay with the company. Oh, yeah, God forbid A.I.G. should lose any of these business geniuses. Imagine ... what kind of shape they'd be in without these people?"
"Again, these are cash awards, not bonuses. So we should send them to jail, not prison, see."
"Well, a lot of Wall Street experts are saying that there are incredible bargains right now in the stock markets. ... Oh, it's a great time to buy, yeah, like...after a huge car crash," when "there are auto parts lying all around. Same thing."






