Ties To Failed Bank Previously Dogged Obama’s Likely Commerce Choice
President Obama’s likely pick for Commerce Secretary is billionaire Penny Pritzker, but she has ties to the financial crisis. Does it matter anymore?
President Obama’s likely pick for Commerce Secretary is billionaire Penny Pritzker, but she has ties to the financial crisis. Does it matter anymore?
This is a really good metaphor for banks these days.
An epic Irishman has a few thoughts about the financial crisis and Michael Flatley. The language is quite salty, so NSFW ahoy. Watch Video ›
Denver’s budgetary woes were made worse by a complex transaction that went sour in the financial crisis.
Many economists build careers on only a few decades’ worth of data. Kenneth Rogoff and Carmen Reinhart researched eight centuries of financial crises for “This Time Is Different.”
In cutting spending to rein in deficits, governments are betting that the private sector can make up for lost stimulus spending—and the markets are skeptical.
A 20-hour negotiation culminated Friday in agreements on the two most contentious portions of the bill: derivatives and the so-called Volcker Rule.
Sure, there were no eggs thrown or smoke bombs detonated, but this is about as entertaining as C-SPAN ever gets. Watch Video ›
Right-wing blogs and news sites are talking about about “financial crisis.” We’re tracking the latest headlines on this topic and update this page with links as they come in. Read More ›
Neil Young’s latest music video addresses the financial crisis head-on. That is exactly how I read my WSJ everyday. Uncanny. Watch Video ›
Artist Jota Castro perfectly captures the moment with an installation utilizing rolled dollar bills. And it has nothing to do with drugs. View Image ›
Kurland, former No. 2 at mortgage company Countrywide, is now raking in the dough by buying up failed mortgages. His story kind of boggles the mind. Read More ›
You’ll never guess. Gerry Pasciucco (formerly of Morgan Stanley) currently heads AIG’s disgraced Financial Products division (yup, the one that caused all that trouble). I can’t decide whether this is humorously ironic or frighteningly deluded. View Image ›
“Buddy, we’re with AIG.” Yeah, no cause for concern. Watch Video ›
Those smug bastards over at Time magazine have drawn up a list of the ten major newspapers most likely to go under or go digital very soon. Topping the list is the Philadelphia Daily News, which nobody reads anyway (I’m from Philly), but some non-second-rate papers included on the list are the Chicago Sun-Times and the Boston Globe, which is reportedly losing $1 million each week.
Celebrate the financial crisis and the fat-cats who are getting away with it with a shiny new “kleptocracy” T-shirt. If you can afford it. View Image ›
Circuit City is going out of business and EVERYTHING MUST GO. Looks like you can get a great deal on basic neurosurgery! View Image ›
The short and simple story of the credit crisis. This is the thesis work of Jonathan Jarvis, a student at the Art Center College of Design in Pasadena, California, and reminds me of that great This American Life episode from last fall. It’s kinda fun to watch. Watch Video ›
Curious how bad it really is? As the “green line of doom” shows us, pretty freakin’ bad. View Image ›
“The Cruise persona, like a junk bond, was never meant to reach maturity.” This article is actually more interested in how the market explains Tom Cruise’s dwindling career, but how great do feel about your portfolio when you think about it in terms of War of the Worlds?
The Times takes a look at WaMu’s no-loan-too-insanely-implausible culture. They once approved a loan for a borrower who claimed to be making a six-figure income as a mariachi singer. Oh, and the WaMu employee who approved the loan had drug paraphernalia just sitting out on his desk, because the place was just that crazy.
The Wall Street Journal has a great story on how the global financial crisis caused Iceland’s entire economy to collapse. Poor Bjork!
An illustration of the difference in price (adjusted for inflation) between government spending on the bailout and …other huge stuff. In other words, we’re doomed. View Image ›
A philosophical comparison between Oprah’s massive weight gain and America’s financial crisis. If Oprah represents the credit crunch, does that make Steadman George W. Bush? (Because, you see, both are nowhere to be found.)
Calvin’s lemonade stand turns out to be an excellent metaphor for our current economic predicament. View Image ›
The dreamy CEO of Merrill Lynch has been forced out by Bank of America. He kind of had it coming after that $10 million bonus debacle, but he will always be the “Cutest Villain of the Financial Crisis” in my heart. Read More ›
Ayn Rand’s Objectivist tract gets updated for our current financial predicament. It’s also more readable than Ayn herself.
Six U.S. governors and a group of chief executives on Thursday urged the Bush administration in a letter to aid the embattled auto industry, while the White House rebuffed a request for direct support of a merger between GM and Chrysler.
Wall Street bankers are expected to receive pay deals, including bonuses, worth more than $70 billion this year. That’s 10% of the massive emergency government bailout. We are so disappointed in you, Neel.
Honda is offering low financing rates on Civics to encourage people to buy cars despite the grim economic outlook. This would be a great time to buy a car, if you could afford it.