Write-Offs: 12.01.08

Posted by Bess Levin, Dec 01, 2008, 6:20pm

$$$ Trustee alleges brokers bribed Sentinel manager [Fortune]

$$$ How Congress Will Kill Detroit [Deal Journal]

$$$ Deadline extended for rival Neuberger bids [Reuters]

$$$ Squeeze the Banker [STB]

$$$ Kudlow on the Recession [CWS]

$$$ Apply for a Federal Bailout! [VF]

1Recommend this! 18Comments

Comments

1

Posted by guest , Dec 01, 2008 6:26PM

Fuck first, we're fucked.

SPODE

2

Posted by trojan , Dec 01, 2008 7:17PM

rose bowl baby

3

Posted by Lowly Assistant , Dec 01, 2008 7:24PM

It's so cold in Detroit.

http://www.youtube.com/watch?v=aktLRiWXfqg&feature=related

4

Posted by guest , Dec 01, 2008 8:04PM

Thanks for the bailout form Bess. I'd been searching everywhere for it but it never turned up.

5

Posted by guest , Dec 01, 2008 8:13PM

Thanks LowA, I needed that.

SPODE

6

Posted by guest , Dec 01, 2008 8:31PM

Glenn Dubin kind of looks like a douche. Anyone know his personal demeanor?

7

Posted by guest , Dec 01, 2008 9:28PM

"The financial sector itself has been building for many decades into the largest single element of the American economy. We have moved to a world where far too many of us seemingly no longer make anything; we’re merely trading pieces of paper, swapping stocks and bonds back and forth with one another, and paying our financial croupiers a veritable fortune. In the process, we have inevitably added even more costs by creating ever more complex financial derivatives, in which huge and unfathomable risks have been built into the financial system." - John Bogle, Vanguard Founder.

http://information-security-resources.com/2008/12/01/the-financial-industry-takes-too-much-gives-too-little-bakes-unknown-liability-into-the-system/

8

Posted by guest , Dec 01, 2008 9:31PM

Whoa, even that Bogle thinks it's all a write-off. Any good news out there today?

9

Posted by Seaman Bodine , Dec 01, 2008 10:08PM

Anybody else think it's pretty ironic that the grand poohbah of index investing is irritated at the concept of "trading pieces of paper".

Hey old fuck, all you're doing is saying all pieces of paper are fucking the same, or even worse, all pieces of paper are so complicated that you can't pick out the winners.

Go fuck yourself you HIV infected variant of Wilford Brimley. Stick some quaker oats up your ass.

10

Posted by guest , Dec 01, 2008 10:08PM

has LArry Kudlow ever been right about anything?

11

Posted by guest , Dec 01, 2008 10:11PM

Hey Bess,

Slow news day today

12

Posted by Anal_yst , Dec 01, 2008 11:22PM

A few random, rambling thoughts:

1. USC/Penn State should be an interesting Rose Bowl. As long as USC doesn't blow it @ UCLA, that is.

2. Big 12 south, what a mess, oye!

3. Larry Kudlow, jesus fucking hell. I wonder what he's snorting/smoking the past few years, it must be fucking incredible for him to be so fantastically wrong so often.

4. Anyone in NYC or North Jersey play squash or know if there's any corporate leagues like they have for lacrosse, etc?

13

Posted by guest , Dec 02, 2008 12:54AM

Music to my ears:
http://online.wsj.com/article/SB122818833059071519.html

14

Posted by guest , Dec 02, 2008 2:16AM

recession over? SOLD

15

Posted by guest , Dec 02, 2008 3:07AM

Credit Suisse to cut 650 investment banking jobs.

16

Posted by guest , Dec 02, 2008 5:24AM

@13
why dont you go fingerbank meredith whitney you underperforming loser fucktard.

17

Posted by guest , Dec 02, 2008 7:39AM

http://mcsweeneys.net/2008/11/20tucker.html

18

Posted by guest , Dec 02, 2008 1:55PM

KUDLOW AND BEA FULL OF SHIT

DEFINITION 2 CONSECUTIVE DECREASES IN GDP

3Q 2007 + 4.9 (from 2Q)

4q 2007 + 0.6 (from 3Q)

1Q 2008 + 1.0 (from 4Q)

2Q 2008 + 2.8 (from 1Q)

3Q 2008 - 2.8 (Preliminary, only)

1 REAL DECLINE; POSTED BEFORE FINAL RELEASES

TRUTH: ECONOMISTS ARE SENILE OR ON THE TAKE; SO IS KUDLOW

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