Write-Offs: 04.29.08

Posted by Bess Levin, Apr 29, 2008, 5:37pm

$$$ Citi knocks another one out of the park. [WSJ]

$$$ Pilgrimage, Part VII: “You Don’t Want to Let Him Down” [JeffMatthews]

$$$ V [WallStrip]

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Comments

Posted by BamBam, Apr 29, 2008 6:55PM

It sounds as though Citigroup dumped their bad paper on a bunch of unsuspecting mom & pop investors. I'm sure the lawyers estimated the losses from lawsuits beforehand.

But, how does His Majesty Bob Rubin continue to avoid criticism for Citi's sleazy behavior? And isn't this yet another black eye for Mrs. Clean?

Posted by guest, Apr 29, 2008 7:45PM

I so want to drop loads all over her.

Posted by StupidEquityGuy, Apr 29, 2008 10:00PM

Things are quickly changing in Europe...

http://www.guardian.co.uk/world/2008/apr/29/italy1

Cries of 'Duce! Duce!' salute Rome's new mayor

Silvio Berlusconi, who won a general election earlier this month, welcomed the latest evidence of Italy's leap to the right by declaring: "We are the new Falange".

The original Falange — the word means "phalanx" — was the Spanish fascist party, founded in the 1930s, which supplied Francisco Franco's dictatorship with its ideological underpinning.

Posted by StupidEquityGuy, Apr 29, 2008 10:36PM

New FED Mandate being discussed. It includes...

Fed could even use its proposed “macro-prudential” authority to order banks, hedge funds and other entities to curtail strategies that put financial stability at risk.

http://www.ft.com/cms/s/0/51d699e4-1623-11dd-880a-0000779fd2ac.html

Posted by guest, Apr 30, 2008 12:01AM

The fact that Berlusconi was re-elected at all is a scandal. It's quite horrible that he was greeted with cries of "Duce!" I can't believe he identified his party as the "new Falange."

I also saw recently in the WSJ that Italy was releasing many major felons due to lack of prison facilities, including some Cosa Notra figures that prosecutors had spent years tracking down.

The corruption of their system is difficult to fathom.

Posted by american bandersnatch, Apr 30, 2008 6:22AM

Slow news day? The Jeff Matthews link is just a reposting of a year old entry.

Posted by guest, Apr 30, 2008 8:10AM

hey stup--If you're the player you pretend to be, you'd know that players adjust their own behavior to new regs, rather than creating posts about societal consequences of gov't regs. Go get me some coffee.

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