Wall Street Firms Will Revert to Pre-Crisis Model, Cohen Says
“The system will look more like what preceded the current environment than many people seem to believe,” [said H. Rodgin Cohen, chairman of law firm Sullivan & Cromwell LLP], said yesterday at a panel discussion on the future of Wall Street sponsored by Bloomberg News in New York. “I am far from convinced there was something inherently wrong with the system.”
Rush Limbaugh, as Minnesota's new but unseated Senator famously titled a book, is a big, fat liar. What's more, his new $400-million contract is crippling his employer. Since his employer is the same Clear Channel that tried to destroy the Dixie Chicks and has effectively eliminated liberal voices from AM radio, that should be good news, no? Read more about Clear Channel: Hemorrhaging Cash to Keep the National Fanny Cyst On Air
Nice little vignette from McClatchy's Fort Worth Star Telegram:
Dorrie O'Brien was booked months ago to speak to the North Tarrant Republican Club. She riled local Muslims last month when she delivered a speech to a Republican club in Hurst in which she said most or all American Muslims support terrorism.
After hearing that O'Brien was going to give a similar presentation to another Republican club, [County] Medical Examiner Nizam Peerwani requested time to deliver a rebuttal, North Tarrant Republican Club president Paul Enlow said.
When is some smart lawyer for bondholders going to notice how differently Obama's treating the banksters and Big Auto?
Information arbitrage fires what could be a warning shot (I don't know the players here well enough to be sure): Read more about When is some smart lawyer for bondholders going to notice how differently Obama's treating the banksters and Big Auto?
About 10 U.S. stress test banks to need more capital Reuters. Of course, the increase from 6 to 10 was leaked after the market closed and bank stocks had rallied massively, despite warnings by S&P of further downgrades
Yes, and whichever insiders knew about the leakMR SUBLIMINAL Goldman Sachs could take a quick profit on the rally.
It really couldn't be clearer who's running the show and why, could it? Read more about Does the media manipulation on the bailouts remind anyone else of Iraq?
I will harp again on this point. We must not let George W. Bush, Condoleezza Rice, Donald Rumsfeld, Richard Cheney, Libby, Yoo, Bybee, Rove, Hughes, and the cabal with which they infested Washington, D.C. for eight years walk away scot free. We must not. Why?
Because these sorry excuses for homo sapiens made this happen: Read more about You can't get enough rope.
Some small-business owners, however, support a public plan. David Borris, owner of Hel’s Kitchen Catering in Northbrook, Ill., told the House Ways and Means Committee April 22 that small businesses “already have enough bad choices – high-deductible, low-benefit plans that are barely worth the paper they’re written on.”
Texas Tech University may be paying speakers' fees to Karl Rove and Karen Hughes for the commencement addresses this Friday and Saturday. I don't know, and I don't know how much those fees would be (I hope they'd be nonexistent, but we are talking about Texas Tech here). Now, if we happened to have any INTERPOL agents or Spanish police in Lubbock that day ...
But it looks like WT (aka West Texas A&M) isn't overpaying:
This will not cost WT too much cash.
They're basically paying for Roves trip from Austin to Canyon.
The next day he'll be speaking in Lubbock at the Texas Tech School of Law.
After they helped to throw the 2000 and the 2004 elections to Bush by suppressing the news -- and I'm not even going to mention how Judy Miller helped kill hundreds of thousands of Iraqis and Americans -- you'd think Izvestia's management would be ashamed enough to do the decent thing and off themselves -- or at least get out of the newspaper business so others could do the job they have so Read more about The world's greatest newspaper (not!) turns to open union-busting and looting
What is the relation between information asymmetry and rents?
This story about pension funds makes me ask that question.
When it comes to disclosure, she said, she saw a continuation of the attitude that she found during her audit: Senior managers believe it is up to investors to ask rather than the duty of the agency to disclose.
[an attempt at something resembling liveblogging]
7:59 pm [central time]:
There's only i person from my zip code. Gee, I wonder who that could be.
Ok, I'm tired of the Move On song already.... Read more about Listening to Dr Dean...
See hipparchia's post for details. I just submitted my question. My link speed/reliability won't allow me to listen, so if anyone wants to report, that would be great. Read more about Reminder - MoveOn's Howard Dean healthcare briefing tonight at 9:00 ET