Goldman means never saying sorry

Goldman Sachs sent out a press release to announce it came to its senses and exercised “restraint” with its 2009 bonus pool. The so-called commercial bank “limited” its $16.2 billion bonus pool to 35.8% of revenue, down from 48% in 2008. Excuse me while I reach for my airsick bag.
This fake mea culpa should in [...]

When will we stop throwing good money after bad?

Ben Bernanke wants to pour more of the public’s money into the banks. The argument is that the economy will not survive if the money isn’t spent on the very people who created the credit crisis in the first place. More money is to be spent on banks that have taken everything that [...]

Goldengrove unleaving

Paulson are you aching
Over Laissez-Faire’s unmaking?
Risk, like useless VAR, you
Can’t your job prepare for, can you?
Ah! as the task grows bolder
It will gray your baldness older
By and by, nor spare your eye
Though worlds of shattered markets lie;
And yet you will weep and know why.
Now no matter, Hank, the game:
Market’s failings are the same.
Nor trade, no [...]