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Expensive Conventional Wisdom

For the bargain basement price of $400.00 you can read Standard & Poor's thinly veiled mea culpa and distill from their "super new not old at all" methodology that Junior "AAA" tranches of defaulted, mortgage backed CDOs will recover about $0.35 and Senior "AAA" $0.60. Your tranche is rated "A"? Punt.
Criteria: Recovery Assumptions Revised For Certain CDOs Backed Predominantly By U.S. RMBS [Alacra Store]


World's Most Expensive Office Now Somewhat Less Expensive

The market for literally palatial office space does not appear to have recovered.

Goldman Sachs Ditching Travel Expenses, Employees In Cost-Cutting Push

Don't like it? Cry Lloyd Blankfein a river. Oh, and there's more where that came from.