* 3 Paris Hilton name-checks
* “Our prim remembrance of Gidget going to Hawaii and hanging out with the beach boys seems to have been replaced in this case with an image of Heidi Fleiss setting up a floating brothel in Beverly Hills.”
* "AAA? You wooed Mr. Moody’s and Mr. Poor’s by the makeup, those six-inch hooker heels, and a 'tramp stamp.' Many of these good looking girls are not high-class assets worth 100 cents on the dollar."
* "I kid the Fed Chairman" jokes.
* Pretending (?) not to know who runs Bear Stearns
* Charts
Looking for Contagion in All the Wrong Places [PIMCO]

CDOs in `Hooker Heels' Fool Moody's, S&P, Gross Says [Bloomberg]