Items of Interest:
Jeff Matthews is Not Making This Up:
New-New Gettysburg Address -- Four or five years ago our Investment Bankers helped bring forth on this continent, and around the world, a new banking system, conceived in Leverage, and dedicated to the proposition that all persons working for Investment Banks can create enormous Wealth for themselves with almost no Risk except to Taxpayers.
Now we the Investment Bankers of Goldman Sachs are engaged in a great Scam, testing whether that Nation of Bankers can get paid without Tipping Off the Taxpayers to that Scam.
We have come to cash our checks...
Goldman Offers Loans to Stretched Employees -- Goldman Sachs got its bailout. Now some of its bankers, those aristocrats of Wall Street, apparently need a bit of a bailout too...
The Real AIG Scandal--It's Not the Bonuses -- It's not the bonuses. It's that AIG's counterparties are getting paid back in full.
Everybody is rushing to condemn AIG's bonuses, but this simple scandal is obscuring the real disgrace at the insurance giant: Why are AIG's counterparties getting paid back in full, to the tune of tens of billions of taxpayer dollars?....
And who were AIG's trading partners? No shock here: Goldman, Bank of America, Merrill Lynch, UBS, JPMorgan Chase, Morgan Stanley, Deutsche Bank, Barclays, and on it goes. So now we know for sure what we already surmised: The AIG bailout has been a way to hide an enormous second round of cash to the same group that had received TARP money already...
- The Full Story Still To Come
- An Investigation Is Necessary
- The Real AIG Outrage
- We Should Have Saved Lehman
- Why AIG Wasn't Allowed to Fail
Anger Over AIG: You Ain't Seen Nothing' Yet - From AIG to John Thain, the current public anger is just the latest expression of two centuries of periodic outrage—and Obama still has a chance to tame it...
- AIG Bonuses: A. Sorkin Vs. J. Carney - Kirk Shinkle, U.S. News & WR
- One Argument for the AIG Bonuses - Andrew Ross Sorkin, New York Times
- AIG Madness Needs a Stop From Geithner - Roger Lowenstein, Bloomberg
- AIG Is Blamed For Government Failure - Terence Corcoran, National Post
Rich Edson / FOXBusiness.com:
discussion:John / Power Line: FIT ONLY FOR SATIRE? — It's hard to know whether to laugh or cry over the AIG story.Tomoeh Murakami Tse / Washington Post: Cuomo: 73 AIG Executives Got $1 Million Bonuses or MoreTom Maguire / JustOneMinute: The Race To Stupid - Tax The AIG BonusesDavid M. Herszenhorn / New York Times: Outcry Builds in Washington for Recovery of A.I.G. BonusesScott Ott / ScrappleFace: Obama, Dodd Outraged at AIG Campaign CashJeff Poor / NewsBusters.org: Lefty Radio Host Ed Schultz on AIG Bonuses: 'The Obama Administration …Sister Toldjah: The outrage over the AIG “outrage”The Lonely Conservative: Bailouts, Bonuses, Bureaucrats and Blunders - UpdatedMichele Bachmann / Townhall.com: Who's Looking Out For You? — It turns out that Chris Dodd …Rachel Oswald / The Raw Story: Senate bill targets AIG bonusesMichelle Malkin: Chris Dodd: For AIG bonuses before he was against themJennifer Rubin / Commentary: Re: About Those AIG BonusesDoug Mataconis / The Liberty Papers: Angry About The AIG Bonuses ? Blame WashingtonMichael van der Galien / PoliGazette: Obama et al knew about bonuses for AIG
Ben Armbruster / Think Progress: Perino Defends AIG Bonuses: They Are 'Middle Class People …Ignatius Reilly / Right Pundits: The Luck o' the Dodd: St. Patrick's Day Chris Dodd AdJoanna Ossinger / FOXBusiness.com: Some Details About AIG's Bonuses Are Revealed
Dan / Riehl World View: Greenwald's Half-Truth On AIG BonusesChris Bowers / Open Left: White House Official Throws Chris Dodd Under Bus To Protect Geithner and Summers
Lose $165 Million, Gain an Issue
Helen Kennedy / NY Daily News: More special treatment for AIG: 100% tax rate for bonusesJoe Weisenthal / Clusterstock: Republicans Say AIG Is All Chris Dodd's FaultRichard Fernandez / Pajamas Media: Who me? — The question of how an amendment crept …Rory Cooper / The Foundry: The Government Can't Sell CarsLex / Neptunus Lex: Outrage of the Day — Everyone - and I mean everyone …Faiz Shakir / Think Progress: Grassley clarifies his call for AIG execs to commit suicide …
discussion:Richard Cowan / Reuters: Sen. Schumer threatens huge tax on AIG bonusesLaurie Kellman / Associated Press: Livid Democrats demand AIG return bailout bonusesLee Fang / Think Progress: Republicans Who Opposed Wall Street Salary Caps Last Month …Room for Debate: When Bonus Contracts Can Be BrokenNoam Scheiber / The New Republic: The Notorious AIG Bonuses: More Ugly DetailsKate Phillips / The Caucus: Bonuses, Bailouts and BlameCaro / Corrente: Politics and Media Headlines 3/17/09Zachary Roth / TPMMuckraker: Seventy-Three AIG-ers Got More Than $1 Million Each In BonusesBarry Ritholtz / The Big Picture: AIG Retention Bonuses Paid to FORMER EmployeesFester / Newshoggers.com: Pitchforks here, get your pitchforks — By Fester: — Via the New York Times:Richmond Times-Dispatch: Obama: ‘How do they justify this outrage?’Phillip Anderson / the albany project: Cuomo Describes AIG's Epic Retention FAILSteve Benen / Washington Monthly: CUOMO PULLS BACK THE CURTAIN A LITTLE MORE.... What do you know …
discussion:William A. Jacobson / Le·gal In·sur·rec· tion: The Wheels Are Falling Off The Obama AdministrationWashington Post: Congress Looking at New Taxes on AIG BonusesMartha Zoller / Pajamas Media: AIG, UAW, TARP: The Taxpayer Drowns in Alphabet SoupDan Collins / pw: The Congresscritters and AIGBruce McQuain / QandO: The Phony Cacophony - Congress, The President and AIGHughS / Wizbang: More About Those AIG Bonuses — Congress and President Obama …JammieWearingFool: Democrat Climate of Hate Leads to Death Threats Against AIGElana Schor / TPMDC: Dem Rep. Miller Interview: No ‘Change I Can Notice’ At Obama's TreasuryGaius / Blue Crab Boulevard: Deflection — Jim VandeHei at The Politico points …
Krooney / TIME.com: The Hard Part and the Easy Part
Gibbs Peppered With Questions About AIG and Geithner
discussion:The Huffington Post:
Elana Schor / TPMDC: House Republicans To Force Geithner's Hand on AIG Negotiations
Cuomo Reveals AIG Details: 73 Employees Got Multi-Million-Dollar Bonuses
Joe Gandelman / The Moderate Voice: Cuomo's Revelations Mean New Credibility Problems For AIGZP Heller / Open Left: Time to Take Back the Economy — The details of AIG's bonuses …
Stop Saving Now! -- As consumers hibernate and investors hoard cash, the economy is withering. This new age of thrift is understandable. But for a recovery to take hold, Americans will need to start taking risks again...
Something less tangible is also absent: the spirit of caffeinated, heedless risk taking. For a generation, risk has been the adrenaline of the nation's economy, the substance that made us all—from the denizens of midtown Manhattan to the residents of Manhattan, Kans.—run a little faster and stay up a little later...
Surprise! Housing Starts Up 22 Percent – After dropping almost 17 percent in January, housing starts surged 22 percent in February to a seasonally-adjusted annual rate of 583,000 — although still 47.3 percent below the revised February 2008 rate — due in large part to the 82 percent increase in the construction of apartment buildings, the Commerce Department said Tuesday...
Citi Losing Economist to Treasury – Citigroup Inc.'s chief economist is leaving the company for a job at the Treasury Department, according to an internal Citigroup memo.
Lewis Alexander, who has been at Citigroup since 1999 and before that worked at the Federal Reserve, will head to the Treasury "to work on domestic financial issues," said the Citigroup memo, which was sent Tuesday...
JammieWearingFool: Rewarding Incompetence: Citigroup's Chief Economist Gets Treasury Gig
- Please, Get A Grip On Your Fears - Ken Fisher, Forbes
- It's Time To Declare a War on Greed - Albert Bozzo, CNBC
- New Bank Powers Concern Wall St. - Mara Der Hovanesian, BusinessWeek
- Getting Lehman Wrong a Second Time - Dean Baker, The Guardian
- Macroegonomics: How To Overcome It - Virginia Postrel, The Atlantic
- Why We Need Not Fear a Bigger Stimulus - J. Bradford DeLong, VoxEU
- China Sees Path to Growth in Downturn - Keith Bradsher, New York Times
- Patrick Pichette: The Axman Cometh to Google - Adam Lashinsky, Fortune
- A Return of That '70s Horror Show - Stephen Moore, The American Spectator
- Blame MBA Programs For the Crisis? - Bradford Plumer, The New Republic
- A Good Week for U.S. Stock Markets - Brian Wesbury & Robert Stein, Forbes
- Suspending Mark-to-Market Is a Bad Idea - David Weidner, MarketWatch
- The Market's Rally Is Misguided Optimism - Jon Markman, MSN Money
- Congress Is the Real Systemic Risk - Peter Wallison, Wall Street Journal
- When Newspapers Fold - Andrew Edgecliffe-Johnson, Financial Times
- Madoff's Apology Makes Things Worse - Joe Queenan, Los Angeles Times
- China Offers the U.S. a Market Lesson - Editorial, Investor's Business Daily
- Stewart Shouldn't Blame Jim Cramer - Richard Cohen, Washington Post
- Is Ruth Madoff a Smarter Investor Than Her Husband? - John Gapper, FT
- Why Houses Now Are Like Stocks in 2002 - Felix Salmon, Market Movers
- U.S. Injecting Billions Into Foreign Central Banks - Ryan Grim, HuffPo
- Funds: Telling Winners From Losers - Russel Kinnel, Yahoo Finance
- Accounting: A Narrative Art? - David Katz, CFO Magazine